Textile and garment production for export (Photo: VNA)

In its recent report on Vietnam, SRF said the country's GDP grew impressively by 7.2% in 2024, sparking heightened interest from the Swiss government in strengthening its cooperation with the Southeast Asian nation. The Vietnamese market is becoming increasingly significant for Swiss businesses, it added.

Anja Fiedler, a representative of Switzerland Global Enterprise, mentioned Vietnam as a manufacturing hub for electric cars and smartphones, and noted that its economy is now growing faster than most Western countries. While its GDP growth slowed during the COVID-19 pandemic, it has since rebounded, most recently surpassing 7%.

Fiedler attributed Vietnam's growth to several factors, including its young and highly educated population. She emphasised that the country’s political stability provides an attractive environment for investors, offering a secure framework that reduces risks.

Vietnam’s commitments to comprehensive free trade agreements, many of them global, also play a pivotal role in driving its economic growth, she added.

The growing appeal of the Vietnamese market is evident, with companies like Zurich-based Angst+Pfister making significant investments. Specialising in industrial equipment for various sectors, the company established a factory in Vietnam last year to leverage the country’s strategic advantages.

Christof Domeisen, the owner of Angst+Pfister, highlighted Vietnam’s strategic location as an ideal production base, enabling the company to efficiently serve its international clientele./.