
Vietnam, EFTA poised to finalize FTA later this year
The nation’s Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) is likely to be completed later this year to coincide with the country celebrating the 50th anniversary of diplomatic relations with Switzerland.

This information was released by Vietnamese Ambassador to Switzerland Le Linh Lan during the “Webinar Market Focus Vietnam” event on March 2 which was jointly held by the Vietnamese Embassy in Switzerland, the Geneva Chamber of Commerce, Industry and Services, and the Switzerland-Vietnam Business Group (SVBG).
Since 2012, Vietnam and the EFTA have been in the process of officially conducting negotiations for FTAs, although negotiations have encountered various difficulties, mainly relating to intellectual property rights and public finance.
The Vietnamese Ambassador stated that both sides are currently striving to speed up the FTA negotiation process in an effort to finalise the signing of the FTA this year. Once implemented, the deal is expected to offer numerous advantages for Swiss investors that are keen to do business in the country.
In line with this, foreign investors are likely to benefit from 15 FTAs signed by the nation, including the EU – Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RECP).
Furthermore, Switzerland represents an important trading partner and is the sixth largest European investor in the country with total investment capital of roughly US$2.058 billion, the majority of which is focused on the processing, manufacturing, and electricity sectors.
At present, approximately 100 major Swiss enterprises and groups are operating domestically, including Nestlé, Novatis, Roche, Holcim, and ABB.
According to experts, following the initial wave of large Swiss corporations pouring investment capital into Vietnam, more small and medium enterprises (SMEs) operating in the fields of service, manufacturing, and technology are anticipated to invest in the Southeast Asian nation in the time ahead.
VOV

Leading exports take advantage of new generation FTAs
Truong Dinh Hoe, secretary general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the EVFTA, which took effect last August, has opened up opportunities for shrimp exporters.

List of FTAs joined by Vietnam as of December 2020
List of FTAs joined by Vietnam as of December 2020 in which Vietnam has joined cover most continents. They comprise nearly 60 economies which altogether make up ~90% global GDP.
MORE NEWS
Samsung emerges as largest foreign investor in Vietnam
Vietnam has attracted more than US$14 billion in foreign direct investment (FDI) in the first half of 2022, and electronic giant Samsung has attained its position as the largest investor thanks to its additional large-scale investments.
VIETNAM BUSINESS NEWS JULY 1
Vietnam’s economic growth accelerates on back of exports, manufacturing: Bloomberg
Some 155 Vietnamese athletes to partake in ASEAN Para Games 2022
The ASEAN Para Games 2022 is a qualifier for athletes to win tickets to Paralympic Paris 2024.
Anti-corruption drive - an irreversible trend in Vietnam, says Party leader
Party General Secretary Nguyen Phu Trong reiterated the Party’s strong stance on combatting corruption among ranking officials while addressing an anti-corruption conference in Hanoi on June 30, stating that it will be an enduring policy.
Vietnam’s African swine fever vaccine to be widely used by late 2022
The vaccination is expected to be carried out in Vietnam from July to the end of this year.
Noi Bai International Airport’s domestic flight volume grows rapidly
Noi Bai International Airport’s domestic flight volume has been growing rapidly, 40 per cent higher than the peak time of summer in 2019, before the COVID-19 pandemic.
Magazines exceeding their functions need to be eliminated: journalist
Many magazines go beyond their functions and produce content beyond the principles and purposes stated in licenses.
Investors to be able to trade stocks on T+2 settlement cycle
According to the new draft, securities will be transferred to investors' accounts within the trading hours of T+2.
Vietnam jumps eight notches in international beauty ranking
Vietnam has moved up eight positions to 42nd in the grand slam ranking for beauty over the past two years, announced international beauty site Globalbeauties.
Thailand Fashion Week 2022 features Vietnamese culture
A Vietnamese collection imbued with Vietnamese culture dubbed 'Sounds Of Vietnamese And Colours Of Five Continents' kicked off Thailand Fashion Week in Bangkok on June 30.
Small alleys offer authentic taste of Hanoi cuisine
Small and sneaky alleys in the Hanoi Old Quarter not only offer enjoyable experiences of the capital city’s time-honoured culture but also the authentic taste of Hanoi cuisine.
Vietnam urged to upgrade to attract big rubber funding
Vietnam’s rubber industry is exerting every effort to meet global sustainability standards.
Fish-sauce exports have great international potential: MARD
The Ministry of Agriculture and Rural Development (MARD) believes that the fish sauce industry has great potential to develop like the wine industry.
Rumor on former Minister of Health’s suicide in prison denied
Amid the rumors about former Minister of Health Nguyen Thanh Long and former Director of Hanoi Heart Hospital Nguyen Quang Tuan suicided in prison, a police official confirmed that it is fake news.
Vietnam continues to be one of the top FDI receivers in ASEAN
Vietnam continues to be a magnet to foreign direct investment (FDI) in ASEAN as it is transforming into a production base for tech giants.