Vietnam requests Liechtenstein share international asset management experience

Prime Minister Le Minh Hung praised Liechtenstein's strengths in science, technology, innovation, and finance during talks with Prime Minister Haas.

During talks with Liechtenstein Prime Minister Brigitte Haas at the government headquarters today, Prime Minister Le Minh Hung requested Liechtenstein enhance experience sharing with Vietnam on developing and managing investment funds, banking operations, green finance, capital markets, and international asset management. This request aligns with Vietnam's strategic development goals for 2030 and 2045, which aim for a growth model based on science, technology, innovation, and digital transformation, according to the Ministry of Foreign Affairs.

Prime Minister Le Minh Hung and Prime Minister Brigitte Haas hold talks on 18/10. Photo: TTXVN

Prime Minister Le Minh Hung and Prime Minister Brigitte Haas hold talks on 18/10. Photo: TTXVN

Vietnam values its relationship with Liechtenstein, recognizing the country's position and strengths in science, technology, innovation, finance, and high-skilled human resource development. These areas complement Vietnam's development orientation, creating opportunities for increased connectivity between Vietnam, ASEAN, and the European Free Trade Association (EFTA).

The prime minister noted that the Vietnam-EFTA Free Trade Agreement and the Vietnam-Liechtenstein Double Taxation Avoidance Agreement will establish a more favorable framework for businesses from both sides. These agreements will help reduce tariffs and trade barriers, expand market access, enhance business connectivity, and promote investment flows, contributing to the growth and prosperity of both nations.

Regarding trade and investment cooperation, Prime Minister Le Minh Hung proposed that both sides continue to facilitate market access for each other's goods, including Vietnam's key export items such as seafood and textiles. He also encouraged Liechtenstein businesses to increase investment in Vietnam in high technology, precision engineering, automation, medical equipment, and finance, including potential participation in Vietnam's International Financial Center and capital markets.

Prime Minister Le Minh Hung at the talks on 18/10. Photo: TTXVN

Prime Minister Le Minh Hung at the talks on 18/10. Photo: TTXVN

Prime Minister Haas expressed hope that bilateral relations would expand across many sectors, effectively leveraging opportunities from new cooperation agreements. She highlighted the two recently signed agreements as important milestones in bilateral relations. Based on Liechtenstein's experience and strengths, both sides will enhance exchanges on investment fund management, asset management, banking operations, and capital and securities markets. Prime Minister Brigitte Haas affirmed that Liechtenstein considers Vietnam an important partner in Southeast Asia, wishing to further strengthen long-term economic, trade, and investment cooperation. Liechtenstein's leadership is ready to share methods and models that have helped optimize its production capacity and workforce, leading to high economic efficiency and productivity.

The two leaders agreed to continue coordinating and supporting each other at the United Nations (UN) and other multilateral forums. They pledged to promote multilateralism, respect international law and the rules-based multilateral trading system, contributing positively to addressing common challenges for peace, stability, cooperation, and sustainable development regionally and globally. Regarding regional and international issues, the two leaders also agreed on the need to strengthen cooperation within the United Nations framework, contributing to regional and international peace and stability.

On the same day, General Secretary and President To Lam met with Prime Minister Brigitte Haas. He requested both sides coordinate to promptly complete necessary procedures for the Vietnam-EFTA Free Trade Agreement to come into effect, thereby strengthening business connections and opening markets for each other's goods. General Secretary and President To Lam further asked Prime Minister Brigitte Haas to encourage Liechtenstein businesses to expand investment in Vietnam in green finance, high technology, precision engineering, automation, and medical equipment.