Swiss and European firms back Vietnam’s push for double-digit growth, finance hub

THE HANOI TIMES — Swiss and European companies are ready to support Vietnam’s drive toward double-digit economic growth and the development of an international financial center, said Philipp Rösler, Chairman of the Swiss-Vietnam Economic Forum (SVEF), on February 3.

Meeting Prime Minister Pham Minh Chinh, Rösler said Vietnam’s strong growth in recent years stood out despite global economic difficulties with the growth of more than 8% in 2025 that placed Vietnam among the world’s fastest-growing economies.

Rösler praised Vietnam’s development strategy, including plans for an international financial center and sustained high growth. He said Swiss and European businesses stand ready to cooperate and help turn these goals into reality.

Swiss and European firms described Vietnam as an attractive long-term investment destination, particularly in finance, textiles, climate action, carbon and methane reduction, pharmaceuticals, biotechnology, semiconductors and related ecosystems, data infrastructure and artificial intelligence.

They urged the government to maintain open, stable and predictable policies, simplify administrative procedures and develop supporting ecosystems and services to help investors optimize operations.

Prime Minister Chinh addressed business concerns and outlined Vietnam’s priorities, incentives and mechanisms for green and digital development in an open and direct exchange.

He praised the SVEF and Rösler for promoting investment cooperation and raising Vietnam’s profile in Europe and globally, as well as the contributions of European businesses to Vietnam’s development.

The prime minister briefed participants on the outcomes of the 14th National Party Congress, highlighting the country’s long-term vision toward 2030 and 2045, including a target of double-digit economic growth from 2026.

To reach that goal, Vietnam will pursue three strategic breakthroughs: more flexible institutions, seamless infrastructure and smarter governance and human resources, he said.

Vietnam will also renew traditional growth drivers while accelerating new ones based on science, technology, innovation and digital transformation, according to the Vietnamese government’s leader.

The country is prioritizing clean energy, sustainable agriculture, including a project to develop one million hectares of high-quality, low-emission rice in the Mekong Delta, carbon market development and green transport through wider use of electric vehicles.

Vietnam offers strong incentives for semiconductor development and is rolling out chip manufacturing projects while building a skilled workforce, targeting 50,000-100,000 semiconductor engineers by 2030.

The country is also expanding national databases across sectors and localities to support artificial intelligence development.

Vietnam has further potential and policy incentives in pharmaceuticals, biotechnology, ecological agriculture, international financial centers, free trade zones and cross-border economic cooperation.

Prime Minister Chinh welcomed Swiss and European investment in high-tech and high value-added projects linked to technology transfer, as well as cooperation in green and digital transitions, renewable energy, the marine economy, green finance and tourism.

He encouraged investors to expand both direct and indirect investment, transfer technology, train human resources and share management experience to support Vietnam’s priority sectors.

The prime minister also called on European investors to help Vietnamese firms integrate into global value and supply chains.

He urged Swiss and European companies to support the development of Vietnam’s international financial center and to encourage remaining EU members to ratify the EU-Vietnam Investment Protection Agreement (EVIPA).

Chinh also asked businesses to press the European Commission to lift the IUU yellow card on Vietnam’s seafood exports and to contribute to Vietnam’s development through long-term investment, technology transfer, innovation partnerships and the adoption of international ESG and sustainable finance standards.

He highlighted the strong momentum in the Vietnam-Europe relations following their upgrade to a comprehensive strategic partnership, as well as Vietnam’s close ties with Switzerland.

“Vietnam commits to improving the business environment, maintaining political stability and social order, accelerating digitalization, cutting unnecessary procedures, reducing costs and protecting the lawful rights of investors,” he said.

Infrastructure investment and green economy

At a meeting with the Ministry of Finance earlier in the day, Rösler said the SVEF is ready to act as a strategic adviser for Vietnam’s international financial centers, with participation from institutions managing tens of trillions of dollars in assets.

Rösler, a former German vice chancellor and Vietnam’s honorary consul in Switzerland, said Vietnam’s upgrade to emerging market status proves its strong economic appeal.

He said Swiss companies are keen to channel long-term capital into infrastructure projects and to work with Vietnam on building a legal framework for the carbon credit market.

To accelerate billions-of-dollars projects, he called for continued administrative reform, stronger investor protection and stable tax and legal policies.

Deputy Minister of Finance Nguyen Duc Tam said Vietnam stands at a pivotal moment as it pursues double-digit GDP growth.

Unlocking high-quality foreign direct investment remains a key priority to strengthen domestic capacity, he said.

Major transport projects include completing 5,000 km of expressways by 2030 and developing the North–South high-speed railway with an estimated investment of US$70 billion.

These projects will improve connectivity and create new growth space for international investors, he added.

The ministry is also finalizing the legal framework for international financial centers in Ho Chi Minh City and Danang to build a transparent, international-standard financial ecosystem.

Tam called on Swiss and European firms to participate in green agriculture and the digital economy, including the low-emission rice project, carbon market development and big data infrastructure powered by clean energy.

He said the ministry will continue cutting red tape, removing barriers and ensuring policy stability to support sustainable investment.

The two sides agreed to establish regular communication through the Foreign Investment Agency and expressed hope that 2026 will mark a year of decisive action, turning cooperation commitments into concrete results.