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Electronic component manufacturing. (Source: VNA)
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In commemoration of the 50th anniversary of the Liberation of Southern Vietnam and National Reunification (April 30, 1975–April 30, 2025), the Swiss newspaper Le Temps published an article appraising Vietnam’s economic potential.
According to the article, it all started in the 1990s when Mr. Frédéric Montier, who would later become the Director of ELCA’s representative office in Vietnam, discovered the potential of Vietnamese experts through a scientist.
“I noticed the exceptional skills of this renowned expert,” he said. “Out of curiosity, I then looked into the achievements of the Vietnamese and found that they consistently ranked within the top 15 in international mathematics olympiads.”
Based on this observation, ELCA, a company headquartered in the canton of Vaud, established a representative office in Vietnam in 1998. The company now employs over 400 software developers who cater to the Swiss market and handle the corporation’s global services.
Over time, ELCA’s presence in Vietnam has been surpassed by other Swiss giants such as the multinational food and beverage company Nestlé and the multinational technology corporation ABB.
Nonetheless, Mr. Frédéric Montier takes pride in believing that ELCA was the first Swiss company in the information and telecommunications (IT) sector to venture into Vietnam.
Nowadays, all Swiss technology companies have branches in Vietnam, contributing to a total of approximately 100 Swiss companies doing business in this Southeast Asian country. They played a significant role in Switzerland’s nearly $2 billion investment in Vietnam in 2023.
According to Mr. Roger Leitner, President of the Swiss-Asian Chamber of Commerce, the aforementioned examples demonstrate how Swiss quality standards can be successfully applied in Vietnam.
“The story of Jakob AG is an impressive illustration of how Swiss companies can expand their operations in Vietnam with foresight, fulfill their local commitments, and maintain consistent quality standards while remaining internationally competitive,” he said.
Additionally, Mr. Roger Leitner expressed his belief that such an agreement would allow Switzerland to position itself advantageously against competitors within the European Union, which currently benefits from a free trade agreement with Vietnam.
The President of the Swiss-Asian Chamber of Commerce also mentioned Vietnam’s economic growth trajectory in recent years. With a population of over 100 million, Vietnam is attracting foreign investors who are actively seeking to diversify their economies. Vietnam has positioned itself as an attractive proposition in the region, offering lower labor costs and providing companies with more options.
The article in Le Temps also addressed the challenges Swiss companies may encounter when considering investment plans in Vietnam. However, according to Mr. Frédéric Montier, Vietnam is a country that warmly welcomes businesses.
“Vietnam offers a great quality of life, and on another note, an aspect sometimes overlooked in discussions, they are actively developing their infrastructure,” he added.
Anh Hiển
– 05:43 05/02/2025
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