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Switzerland supports Vietnam in enhancing Trade Policy and Export Promotion

Switzerland and Vietnam signed on October 22 an agreement on the implementation of the Trade Policy and Export Promotion (SwissTrade) project.
Switzerland supports Vietnam in enhancing Trade Policy and Export Promotion

This project improves trade performance and international competitiveness of SMEs by enhancing the framework conditions for trade, improving public-private dialogue mechanisms, and strengthening the eco-system for trade promotion. The project runs from 2021-2024 with the total budget of CHF 5.627 million (equivalent to VND 148 billion), in which Switzerland’s grant contribution is CHF 5.0 million (around VND 131,5 billion) and the counterpart funding from the Government of Vietnam and beneficiaries amount to CHF 627,000 (around VND 16.5 billion).

 

Vietnam’s development record over the past 35 years of reform is remarkable. Economic reforms and trade liberalization have spurred rapid economic growth and development. However, while trade has grown strongly in these years, framework conditions still need further improvement. A lack in strategic orientation in export promotion, and a still fragmented and nascent ecosystem to support companies leave many small businesses struggling to access international markets and international value chains.

The SwissTrade project will help address these challenges through the technical assistance to the MOIT: (1) shaping the key strategic directions for the next 10-year Import-Export Development Strategy of Vietnam; (2) establishing public-private dialogue mechanisms to further the exchange between the private sector and the national authorities on trade policies, trade facilitation and trade promotion; and (3) and strengthening the capacity of  Business Support Organizations (BSOs) in delivering export promotion services to SMEs to improve their competitiveness and participation in global value chains. Particular attention will be paid to the effects of the COVID-19 pandemic and the promotion of digitization for Vietnamese SMEs.

The Swiss Ambassador to Vietnam Ivo Sieber said at the signing event that: “With this project Switzerland continues its longstanding cooperation in trade development with Vietnam. It will help strengthening the competitiveness of SMEs and supports a more performing, sustainable and inclusive trade development in Vietnam.”

Vice Minister of the Ministry of Industry and Trade Nguyen Sinh Nhat Tan was quoted at the signing event: “The SwissTrade marks an important milestone in Vietnam’s entry into the implementation of the tasks and goals in the Resolution of the 13th Party Congress, the 10-year social-economic development strategy 2021 – 2030 and the 5-year social-economic development plan 2021 – 2025. The project is not only fitting, but also underscores both countries’ commitment to Vietnam’s sustainable socio-economic development”.

The SwissTrade project will be implemented by the Ministry of Industry and Trade (MOIT) and the International Trade Center (ITC). It is a flagship project of Switzerland’s economic development cooperation. The new Cooperation Programme 2021-2024, which is executed by the Swiss State Secretariat for Economic Affairs (SECO), aims at supporting Vietnam in achieving market-based, sustainable growth. It focusses on promoting market-oriented and reliable economic framework conditions, and on enhancing the private sector’s competitiveness and market access.

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