Switzerland had invested over US$744 million in 42 valid projects in Vietnam as of late 2007, standing the 5th among EU investors in Vietnam behind France, the Netherlands, the UK and Luxembourg, Vietnam News Agency reported on April 14.
The investment has put Switzerland at the 17th position among more than 80 countries and territories directly investing in Vietnam.
Currently, around 90 Swiss enterprises are operating in Vietnam, generating 2,500 jobs for local people.
The country is now home to Switzerland’s big names including food and beverage company Nestle, vegetation pharmaceutical producer Novatis, IT services company Elca.
Credit Suisse, one of the leading banks in Switzerland, has considered Vietnam as an attractive market. The bank is building an operation strategy in the Southeast Asian country in the areas of banking services and insurance.
Meanwhile, SwissRe, one of the world’s biggest reinsurance companies, has bought 25 per cent of the Vietnam National Reinsurance Company (VinaRe)’s shares.
Pearl of Asia Development Corp, a subsidiary of the Trustee Suisse group, has unveiled plans to build a US$9 billion super-luxury entertainment-business complex on Vietnam’s biggest island of Phu Quoc, in southern Kien Giang province, state media reported today.
Two-way trade between the countries hit CHF498 million (nearly US$500 million) in 2007, more CHF133 million than 2006, according to the Swiss customs’ statistics. (VNA)
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