President is Co-Chair Vietnam – Switzerland Business Forum | Companies
Bern (VNA) – The Vietnamese President Nguyen Xuan Phuc and his Swiss counterpart Guy Parmelin jointly chair Vietnam – Switzerland Economic Forum in Bern on November 26th
Before the forum, which was attended by representatives from over 100 companies from both countries, the Vietnamese head of state called on Swiss companies to invest in Vietnam and to work with Vietnamese companies in areas where Swiss companies have strengths and Vietnam gives priority, especially banking and finance, science and high tech, innovation and digital transformation.
For his part, President Parmelin highlighted the enormous potential for greater cooperation between the two countries and the need for new ones Cooperation frameworks to encourage Swiss companies to invest in Vietnam.
The interest and commitment of companies and representatives of the private sector in Switzerland in the forum shows that Vietnam is a priority for the European country in economic cooperation projects in Vietnam in the period 2021-2024.
The COVID-19 crisis demonstrated the need for a legal framework to promote close bilateral economic ties, he noted.
The two countries have signed an investment protection agreement, an agreement to avoid double taxation and an agreement to protect intellectual property rights, President Parmelin said. These are important legal bases for Vietnamese and Swiss companies to strengthen the partnership and the bilateral relations between the two economies.
Regarding a Free Trade Agreement (FTA) between Vietnam and the European Free Trade Association (EFTA) negotiated by both sides over the past nine years, President Parmelin expressed his hope that the countries will find solutions to the talks.
In agreement with his Swiss counterpart on the above issues, President Phuc said that immediately after his talks with President Parmelin on the morning of the 26th, the Vietnamese Minister of Industry and Trade would negotiate and sign the EFTA-Vietnam Free Trade Agreement for the benefit of both sides.
He informed Swiss investors about potential and investment opportunities in Vietnam and said that Vietnam is moving from the mere attraction of foreign direct investment capital (FDI) to working with foreign investors in a spirit of equality, mutual development and benefit, as well as responsibility to society and has changed the employees. and environmental protection.
Vietnam choose and prioritize investment projects in high technology, innovation and research and development socio-economic development.
The Vietnamese leader suggested that the two countries provide their companies with comprehensive information on each country’s investment policy, particularly in the areas of finance and banking, science and high technology, innovation and digital transformation.
The competent authorities of the two countries should encourage trade and investment flows between each other and increase exchanges of business delegations to learn about markets and opportunities for investment and business connections, he said.
President Phuc called for it Swiss company Assisting the Swiss government in supplying COVID-19 vaccines to Vietnam through the COVAX facility and supplying medical equipment and transfer technology for the research and production of COVID-19 drugs for the Southeast Asian nation.
Vietnam will strive to create a business environment as committed in new generation free trade agreements with high quality and comprehensive standards, including maintaining socio-political and macroeconomic stability, removing bottlenecks in the economy in terms of legal institutions, infrastructure and human resources , Develop supply chains and reduce logistics and administrative costs.
Swiss companies can take advantage of other opportunities when investing in Vietnam as the Southeast Asian nation has signed up to 15 trade deals, including large-scale, high-quality agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement, he said ./.