Vietnam’s impressive economic development over the last decades and the country’s increasing integration into the world economy have strengthened the relationship between Switzerland and Vietnam in the area of trade and investment.
Over 100 Swiss companies are present in Vietnam today. Up to end of 2018, the total volume of their investments stands at roughly over 2 billion Swiss francs, making Switzerland one of the largest European investors. Several thousands of jobs have been created as a result of these investments, mostly in the areas such as construction, food processing, IT and pharmaceuticals.
Among them there are important multinational corporations such as Nestlé, ABB, Novartis, Roche, Schindler, Syngenta and DKSH. More than 60 Swiss companies are operating in Ho Chi Minh City and neighboring provinces.
Additionally, a growing number of small and medium sized companies have considered Vietnam as a destination to for their investment and business expansion.
Bilateral trade has increased significantly and keeps growing. According to the Swiss Customs Administration, the combined trade volume with Vietnam reached over CHF 2 billion in 2018. An increase of 4.8 % compared to the previous year. Pharmaceuticals, machinery, chemical and instruments are the main Swiss exports.
Tourism has become another important economic activity between the two countries: around 30’000 Swiss citizen enter Vietnam every year, making Switzerland the sixth largest country of origin of tourists coming from Europe.
Tourism in the narrow sense of holiday travelers from Vietnam to Switzerland is of negligible size. Overall, there had been around 2100 visas issued for citizen of Vietnam travelling to Switzerland in 2014 (education, business, visit etc.).
The cooperation between two countries in education is extending continuously. Swiss Universities maintain longstanding and fruitful co-operations with a dozen of Vietnamese Universities. The scientific co-operation includes exchanges of students and professors lecturing in Vietnam. An increasing interest among young Vietnamese for a hotel management education in Switzerland has been seen recently.