On 28/1, Standing Deputy Prime Minister Nguyen Hoa Binh met with President Guy Parmelin and Speaker of the House Pierre Andre Page during a working visit to Switzerland. During the meetings, the deputy prime minister stated Vietnam's desire to increase cooperation with Switzerland in developing international financial centers, focusing on institution building, operational experience, and training high-quality human resources.

He also proposed expanding cooperation in trade and investment, science and technology, green transition, and renewable energy. According to the deputy prime minister, Vietnam targets an average annual GDP growth of 10% or more for the 2026-2030 period. This makes the demand for development resources critical, especially in areas where Swiss businesses excel, such as green finance, digital finance, clean energy, and modern transport infrastructure. He expressed a desire for Swiss businesses to invest actively in Vietnam, affirming that the State is ready to work with businesses to resolve difficulties, promoting long-term development and mutual benefits.

On the same day, Deputy Prime Minister Nguyen Hoa Binh held discussions with leaders of the Vietnam - Switzerland Economic Forum (SVEF), the Swiss - Asia Chamber of Commerce (SACC), and businesses in finance and technology to attract investment. SVEF leaders and businesses expressed confidence in Vietnam's future growth prospects, affirming their readiness to cooperate and share experience in developing financial centers. Some businesses believe Vietnam's move to establish international financial centers is timely and can attract a new generation of foreign direct investment.

Standing Deputy Prime Minister Nguyen Hoa Binh paid a courtesy call to Swiss President Guy Parmelin, 28/1. Photo: VGP

Standing Deputy Prime Minister Nguyen Hoa Binh paid a courtesy call to Swiss President Guy Parmelin, 28/1. Photo: VGP

Vietnam is establishing financial centers under a "one center, two destinations" model, located in Ho Chi Minh City and Da Nang. Ho Chi Minh City will serve as a large-scale financial hub, focusing on the strong development of stock markets, bonds, banking, fund management, and listing services. Da Nang will concentrate on financial services related to logistics, maritime, free trade, and industrial-agricultural supply chains. The planned area for the Ho Chi Minh City center is 899 ha, and Da Nang is 300 ha.

The Da Nang center became operational on 9/1. The Ho Chi Minh City center is set to launch by 9/2, as requested by Prime Minister Pham Minh Chinh.

During the meetings, Vietnam and Switzerland aimed to conclude negotiations for a free trade agreement in 2026. This agreement is expected to unlock significant trade and investment cooperation opportunities, while also connecting the financial centers of both nations.

Phuong Dung