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Switzerland increases development aid

Update: September, 19/2013 - 09:29
Switzerland announced yesterday that it would increase development aid to Viet Nam in the next four-year period to 123 million Swiss francs (US$132.8 million).— Photo baoxaudung

HA NOI (VNS)— Switzerland announced yesterday that it would increase development aid to Viet Nam in the next four-year period to 123 million Swiss francs (US$132.8 million).

This represents an increase of about 50 per cent compared with the budget for the previous four-year period, according to Swiss Ambassador in Viet Nam Andrej Motyl.

In line with Viet Nam's aim to become an industrialised country by 2020 and its middle-income status, Motyl said the focus would shift from poverty reduction to economic development co-operation.

The new development framework stresses supporting Vietnamese small-and-medium enterprises to increase their productivity and competitiveness through better access to credit. "If the small-and-medium enterprises wither away, the whole future of the economy will be at stake," he said.

Since 1992, Switzerland contributed about $360 million to Viet Nam's socio-economic development and reform agenda.

Speaking at the launching ceremony of the new development framework, Deputy Minister of Planning and Investment Nguyen The Phuong applauded the Swiss help and said that Viet Nam would also vow to improve the progress of Switzerland's investment projects in the country, which totaled at about $2 billion in 2012. — VNS

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