Vietnam - Switzerland Business Forum

On the 35^th anniversary of the establishment of diplomatic relations between Vietnam and Switzerland (October 1, 1971-2006), Vietnam Chamber of Commerce and Industry (VCCI), Swiss Embassy and Swiss-Asia Chamber of Commerce recently organized Vietnam-Switzerland Business Forum with the participation of 200 representatives from Swiss economic groups (finance, chemistry, energy, railway, etc.).

 

With total investment capital of US$720 million disbursed by the end of 2005, Switzerland is ranking fourth among European countries investing in Vietnam. Swiss companies are operating successfully in Vietnamese market such as Holcim (cement), Nestle (food), ABB (energy), Syngenta (agro-chemistry), Elca (software), AB Promotions (apparel), etc. The two-way trade value hit over US$240 million a year. Switzerland exports to Vietnam mainly machines, chemicals and pharmaceuticals and imports in return footwear, garment, agricultural and aquatic products. According to Mr Werner Berger, President of Swiss-Asia Chamber of Commerce, 15,000 Swiss tourists visit Vietnam a year ranking 6^th among European countries.

 

Mr. Daniel P.Keller, director of a consulting company pointed out that while the world is in turbulence, Vietnam remains with political stability and economic growth. The workforce is well-trained, reliable, industrious with preferential taxation and reasonable wages. The companies are most successful in intensive-labour industries with low transport cost and requiring no high technology. The investment environment has been improved with legal framework and government treatment. The government is also making great efforts in the fight against corruption, improving infrastructure and simplifying formalities.

 

For his part, Mr Luong Van Ly, Deputy Director, Ho Chi Minh City Department of Planning and Investment, pointed out that the city contributes 20.2 per cent to GDP, 39per cent to export turnover and 17 per cent to investment capital of Vietnam. In Ho Chi Minh city, by August 2006, Switzerland has 15 investment projects with a total capital of US$468,67 million, focusing on software, IT, construction consulting, real estate and cement.

 

Switzerland is one of the richest countries in the world with GDP of some SF400 billion (9 times of Vietnam) and per capita income of SF46, 000 (90 times of Vietnam). Swiss companies have high competitiveness and maintain stable and long-term investment.