Switzerland commits $92 million in ODA for Vietnam
The Swiss Government has committed to providing 90 million CHF (92 million USD) of non-refundable ODA for Vietnam to implement prioritised joint projects.
Overview of the ceremony to announce the Vietnam-Switzerland development cooperation strategy for the 2017-2020 period
The commitment is part of the Vietnam-Switzerland development cooperation strategy for the 2017-2020 period, which was announced by Deputy Minister of Planning and Investment Nguyen The Phuong and the Swiss Minister of State for Economic Affairs Marie-Gabrielle Ineichen Fleisch at a ceremony in Hanoi on October 11.
The capital will be invested to three main areas – supporting the promotion of institution and economic policies, assisting the building of a competitive and effective private economic sector, and backing the sustainable urban development and climate change response.
Speaking at the ceremony, Deputy Minister Phuong said that the Swiss ODA-funded projects have brought about practical and specific benefits to many Vietnam’s agencies, organisations and people, contributing to the poverty reduction and socio-economic development of Vietnam.
Meanwhile, Marie-Gabrielle Ineichen Fleisch said that her country will continue helping Vietnam in pursuing comprehensive and sustainable growth and improving the living conditions of locals.
Switzerland hopes that the long-term cooperation with Vietnam will continue to be fruitful in the coming time, she said, affirming that Switzerland is always a trustworthy partner of Vietnam with commitments to assisting the Southeast Asian country to thrive in the future.
Since the two countries set up their diplomatic relations, their comprehensive partnership has been growing strongly, especially in economy through development cooperation.
Since 1992, Switzerland has provided Vietnam with about 470 million USD in ODA, most of which is non-refundable.
In the coming time, development cooperation between the Swiss State Secretariat for Economic Affairs with Vietnam in the coming time focuses on public financial management, the finance sector’s growth, small and medium-sized enterprises’ access to capital, and green production.
Swiss businesses encouraged to invest in Vietnam
Prime Minister Nguyen Xuan Phuc (R) receives State Secretary Marie-Gabrielle Ineichen-Fleisch
Vietnam welcomes investors from Switzerland, Prime Minister Nguyen Xuan Phuc has said.
He made the remark while receiving State Secretary Marie-Gabrielle Ineichen-Fleisch, Director of the State Secretariat for Economic Affairs (SECO) and Director of the Federal Department of Economic Affairs, Education and Research, in Hanoi on October 11.
The PM affirmed that Vietnam will create the best conditions for foreign investors, including those from Switzerland to do business, especially in the fields of finance, banking, insurance, high technology, medicine, processing industry, and tourism.
He highly valued Switzerland and the European Free Trade Association (EFTA) for recognising Vietnam ’s market economy status in July 2012.
Switzerland is expected to support the involved parties to push ahead with negotiations to reach a balanced and high-standard free trade agreement, which will weigh the mutual benefits and development gaps between Vietnam and EU members, he said.
He thanked Switzerland for prioritising the provision of official development assistance (ODA) for Vietnam in 2013-2016, saying Vietnam pledges to use the capital effectively and hopes to receive more ODA from the European nation in 2017-2020 to carry out development target programmes.
The PM also proposed Switzerland share experience in developing high quality education, vocational training, and science technology while increasing scholarships for Vietnamese students.
For her part, Marie-Gabrielle Ineichen-Fleisch said she is accompanied by many representatives from big Swiss companies and that show their interests in Vietnam – an attractive investment market.
Vietnam has become one of the important partners of Switzerland in Asia, she said, adding that Vietnam is also a popular destination of Swiss tourists.
Promoting the FTA negotiations between Vietnam and the EU is also a purpose of her ongoing visit, she noted.