Vietnam’s rapid economic development over the last decades and the country’s steady integration into the world economy have contributed to stronger bilateral economic relations.
Switzerland is one of the larger European investors in Vietnam. Over 100 Swiss companies, including Nestlé, ABB, Novartis, DKSH, Roche, Schindler, Tetra Pak, Züllig, Swiss Re, Swiss Post Solutions, On Shoes and others, are present in Vietnam. By end of 2020, the total volume of Swiss direct investments in Vietnam stood at roughly CHF 1.9 billion. Some 20’000 jobs have been created as a result of these investments, mostly in the areas of pharmaceuticals, food processing, construction, machinery and IT.
According to Swiss Customs Administration, the combined trade volume with Vietnam reached over CHF 3.3 billion in 2020. Pharmaceuticals, machinery, medical instruments and watches are the main Swiss exports to Vietnam. Vietnam’s key exports to Switzerland include: precious metal (gold), mobile phones, footwear, textile/garments and aquatic products.
Cooperation between the two countries in education and research is extending continuously. Swiss Universities maintain longstanding and fruitful cooperation with a dozen of Vietnamese Universities. Since autumn 2020, joint research grants are being offered to Swiss and Vietnamese researchers. There is a longstanding Vietnamese interest also for college and hotel management education in Switzerland.