Vietnam premier calls on Switzerland to share expertise in developing int’l financial center

He also desired closer links between Vietnam’s financial center and major financial hubs around the world.

PM Hung met with Swiss President Guy Parmelin at the government headquarters in Hanoi on Saturday afternoon, as part of the latter’s official visit to Vietnam, according to the Ministry of Foreign Affairs.

The Vietnamese leader affirmed that Vietnam regards Switzerland as a reliable friend and an important partner in Europe.

He expressed Vietnam’s desire to strengthen political trust and soon establish an intergovernmental cooperation mechanism covering the economy, science and technology, and innovation.

He said the visit was expected to open a new chapter in bilateral relations, particularly with the signing of the Vietnam-European Free Trade Association Free Trade Agreement (VEFTA).

Appreciating Switzerland’s active role in advancing the agreement, the prime minister called on both sides to coordinate efforts to bring it into force as soon as possible, paving the way for a breakthrough in trade and investment cooperation.

He also set the goal of doubling bilateral trade turnover.

Besides, he encouraged Swiss businesses and investment funds to expand their presence in Vietnam, particularly in banking and finance, manufacturing, biotechnology, pharmaceuticals, and innovation.

President Parmelin noted that the two countries shared many common values, particularly their commitment to peace, cooperation, and multilateralism.

Switzerland attaches great importance to its relationship with Vietnam and seeks to promote substantive and effective cooperation, he said.

The large number of Swiss business representatives and scientists accompanying the delegation reflected strong interest in and high expectations for the potential of bilateral cooperation.

The Swiss president said the signing of VEFTA would create opportunities to expand trade and investment and enhance business connections between the two countries, particularly among small-and medium-sized enterprises.

Switzerland is willing to share its expertise in insurance, reinsurance, manufacturing, precision machinery, and high technology, he said.

He also proposed linking Switzerland’s Crypto Valley with Vietnam’s innovation ecosystem to promote cooperation in blockchain, artificial intelligence (AI), and quantum technology.

In addition, he placed particular emphasis on vocational training programs closely aligned with businesses’ needs.

Parmelin further affirmed Switzerland’s willingness to facilitate visa arrangements for Vietnamese citizens.

Both sides agreed to continue advancing the Vietnam-Switzerland Comprehensive Partnership and make effective use of VEFTA to expand investment cooperation, including in seaport infrastructure.

They also pledged to work together to boost the multilateral trading system, diversify markets, and improve resilience to fluctuations in the global economy.

Education and training, science and technology, and innovation were identified as key pillars of bilateral cooperation.

The two sides agreed to step up collaboration on emissions reduction, green transition, agricultural research, water resource management and reuse, and sustainable agriculture, while also expanding cooperation in insurance and reinsurance.

They further agreed to promote cooperation in culture, tourism, labor, and people-to-people exchanges, while continuing to coordinate and support each other at multilateral forums.

The European ‌Free Trade Association and Vietnam are set to sign the free trade deal on Sunday.

The Swiss president and his spouse Caroline Parmelin, along with a high-ranking Swiss delegation, arrived in Hanoi on Saturday morning, beginning their two-day official visit to Vietnam at the invitation of General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam and his spouse.