Vietnam - A rising market contributing to global value chains

On November 4, at the Switzerland - Vietnam Economic Forum 2025 co-hosted by the Swiss Embassy in Vietnam and the People’s Committee of Da Nang city, Deputy Minister of Foreign Affairs Le Thi Thu Hang emphasized that the forum holds special significance, reflecting the spirit of partnership between the two nations.

She noted that hosting this year’s event in Da Nang demonstrates both sides’ shared determination to integrate economic cooperation more closely with local realities, contributing to inclusive and sustainable growth.

Philipp Rösler, Chairman of the Switzerland - Vietnam Economic Forum (SVEF), highlighted that both Vietnamese and Swiss enterprises share a dynamic and open spirit. “Vietnam and Switzerland have much in common  diligence, discipline, and a strong sense of responsibility,” he said.

“These shared values form a solid foundation for expanding cooperation, not only in the economy but also in education, science, research, and especially youth engagement, connecting the next generations of our two nations. Today’s initiative aims not only to build a partnership in business and ideas but also to strengthen the friendship between Switzerland and Vietnam,” Rösler added.

He observed that with Vietnam’s political stability and strong economic momentum, this is an opportune time for both countries to deepen cooperation. “Vietnam is no longer a ‘frontier market’ but an emerging economy of great potential, making active contributions to global value chains,” Rösler remarked.

Vice Chairman of the Da Nang People’s Committee Ho Quang Buu stated that the elevation of Vietnam - Switzerland relations to a Comprehensive Partnership earlier this year marks the beginning of a new era of extensive and sustainable cooperation, paving the way for mutually beneficial growth in trade, investment, and other key sectors.

“Although FDI cooperation between Da Nang and Switzerland remains modest with three projects totaling around USD 1.13 million, we see enormous potential in areas where Switzerland has strengths, such as finance, high technology, and tourism,” Mr. Ho Quang Buu said.

He expressed hope that Swiss organizations, enterprises, and investors participating in the forum would serve as bridges to promote Da Nang’s investment environment and encourage Swiss and international investors to explore opportunities in the city, particularly in tourism and port development. He also welcomed collaboration with Swiss financial experts to help Da Nang shape its vision for an international financial center.

New opportunities from the Vietnam - EFTA Free Trade Agreement

Deputy Minister Hang underscored that Vietnam’s participation in multilateral economic cooperation frameworks, including 17 free trade agreements connecting the country with more than 60 key economies has enabled deeper integration into global production and supply chains. As a result, Vietnam now ranks among the world’s top 20 economies in both trade volume and foreign investment attraction.

Within this broader context of international cooperation, Switzerland stands as one of Vietnam’s most important trading partners in Europe and the sixth-largest European investor in the country. Bilateral trade reached 2.45 billion Swiss francs (approximately USD 2.4 billion) in 2024, marking a 12% increase from 2023.

Switzerland currently operates 214 direct investment projects in Vietnam, with total registered capital exceeding USD 2 billion, ranking 21st among 152 countries and territories investing in Vietnam. Major Swiss corporations are performing effectively, generating tens of thousands of jobs and contributing significantly to Vietnam’s socio-economic development.

Deputy Minister Hang emphasized that economic diplomacy plays a pivotal role in the age of globalization, connecting businesses, promoting trade and investment, and fostering cultural and social exchange. For Vietnam and Switzerland, it serves as a powerful instrument to transform potential into concrete cooperation opportunities.

She noted that the upcoming Free Trade Agreement between Vietnam and the European Free Trade Association (EFTA) will create favorable conditions for businesses from both sides to access each other’s markets more easily. With a shared vision of green growth and people-centered development, economic diplomacy will continue to serve as the “golden key” driving comprehensive cooperation between Vietnam and Switzerland in trade, investment, science and technology, culture, and people-to-people ties.

The Switzerland - Vietnam Economic Forum 2025 is taking place in Da Nang from 3 to 5 November, bringing together policymakers, business leaders, and experts to discuss key areas of bilateral and global cooperation. The agenda includes sessions on Vietnam’s strategic vision for regional and international integration; trade connectivity under the theme From bilateral cooperation to multilateral value chains; and financial development under the theme Defining Vietnam’s role in the global financial architecture.

Other discussions focus on innovation, AI, and digital governance under the theme Building smart ecosystems for sustainable cities, as well as startup growth and innovation-driven development under the theme Empowering enterprises through policy, capital, and collaboration.

The forum also features thematic sessions on various economic and social issues and an open dialogue on sustainable tourism toward net-zero emissions.