Swiss-vietnamese economic relations

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. The total volume of their investments stands at roughly 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, and pharmaceuticals.

Bilateral trade has increased significantly. It is nearing a volume of 1.5 billion Swiss francs and is quite diverse. Pharmaceuticals, machinery 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 (2016), 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. There is however an increasing interest among young Vietnamese for a hotel management education in Switzerland: tourism in Vietnam is booming – the total number of tourists in Vietnam in 2014 was nearly 8 million international arrivals and 32-35 million domestic travelers and the turnover from tourist sector will reach USD 18-19 billion by 2020. Therefore, the demand for well-trained and competent personnel is on the rise. Overall, there had been around 2100 visas issued for citizen of Vietnam travelling to Switzerland in 2014 (education, business, visit etc.).