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VietNamNews

Ties with Swiss firms promoted

Update: December, 09/2015 - 09:10

Export garments for the European market, including Switzerland, are processed at the Toan Huyen garment producer in Hai Duong Province. — VNA/VNS Photo Tran Viet

GENEVA (VNS) — Potential areas for cooperation between Vietnamese and Swiss businesses were discussed at a forum in Geneva on Monday.

The Viet Nam-Switzerland Business and Investment Promotion Forum was co-organised by Viet Nam's Permanent Mission to the UN, the World Trade Organisation (WTO) and other international organisations in Geneva.

It aims to create a network of cooperation between Vietnamese businesses and their Swiss counterparts, as well as other organisations.

Trade between Viet Nam and Switzerland has reached US$633 million in recent years. In the first 10 months of this year, Viet Nam exported $184 million worth of goods to Switzerland, while importing $340 million worth of goods from the European country.

In 2014, Switzerland ranked 18th among 101 countries and territories investing in Viet Nam, with 102 projects valued at more than $2 billion.

A number of Swiss firms, such as Holcim, Nestle, Generalli Insurance, ABB and Syngenta, have gained a reputation in the Southeast Asian nation.

Many well-known Swiss universities specialising in the fields of tourism and finance have also attracted a crowd of Vietnamese students.

Participants at the event shared their experiences in running businesses within the context of global economic integration and competitiveness.

Paul Wessendorp, chief of the Investment Promotion Section under the UN Conference on Trade and Development (UNCTAD), lauded the remarkable progress Viet Nam has made in shifting towards a market economy.

The country's encouragement of private companies, openness to foreign investors and its host of reforms helped boost its industrial development, diversified the economy and integrated it more deeply into the world economy, he said.

Highlighting Viet Nam's engagement in the Trans-Pacific Partnership (TPP) agreement, Paul Wessendorp said Viet Nam was one of the leading nations in Asia in terms of publicising its investment procedures in detail and transparently.

Other UNCTAD experts gave their opinions on the Vietnamese market, focusing on issues regarding foreign direct investment, small and medium-sized enterprises and e-commerce in the country.

Vietnamese Deputy Minister of Justice Nguyen Khanh Ngoc highlighted his country's efforts to improve the investment environment and provide legal support for businesses operating in the market.

The event also heard reports on trade and investment opportunities in the two countries.

Established in 1984, the Vietnamese Permanent Mission to the UN is tasked with promoting trade links between Viet Nam and Switzerland. — VNS



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