Swiss newspaper assesses Vietnam's economic development potential

On the occasion of the 50th anniversary of the Liberation of the South and National Reunification Day (April 30, 1975 - April 30, 2025), the Swiss newspaper Le Temps published an article assessing Vietnam's economic potential.

According to the article, it all started in the 1990s. Mr. Frédéric Montier, who later became the Director of the representative office of the technology company ELCA in Vietnam, discovered the potential of experts in Vietnam through a scientist .

“I noticed the special skills of this famous expert. With curiosity, I then looked into the achievements of the Vietnamese and discovered that they always ranked in the top 15 in the Mathematical Olympiads,” he said.

From this observation, ELCA, a company based in the canton of Vaud, opened a representative office in Vietnam in 1998. The company now has more than 400 employees developing software for the Swiss market and handling the group's global services.

Over time, ELCA's presence in Vietnam has been surpassed by other Swiss giants such as the multinational food and beverage corporation Nestlé or the multinational technology corporation ABB.

However, Mr. Frédéric Montier still feels proud to believe that ELCA is the first company in the Swiss information technology and telecommunications (IT) sector to come to Vietnam.

Now, all Swiss technology companies have branches in Vietnam, playing a role in a total of about 100 Swiss companies doing business in this Southeast Asian country and contributing significantly to the nearly 2 billion USD of Swiss investment in Vietnam by 2023.

According to Mr. Roger Leitner, President of the Swiss-Asian Chamber of Commerce, the above examples show how Swiss quality standards can be successfully applied in Vietnam.

“The Jakob AG story is an impressive example of how Swiss companies can expand their operations in Vietnam with foresight, local commitment and consistent quality orientation, while still maintaining international competitiveness,” he said.

In addition, Mr. Roger Leitner also expressed his belief that such an agreement would allow Switzerland to position itself at an advantage over its competitors in the European Union, which are benefiting from a free trade agreement with Vietnam.

In addition, the President of the Swiss-Asian Chamber of Commerce also mentioned Vietnam's economic growth in recent years. With a population of over 100 million, Vietnam is attracting foreign investors, actively seeking to diversify its economy. Vietnam is now positioning itself as a good choice in the region, offering lower labor costs and allowing companies to add more solutions.

The article by Le Temps then mentioned the difficulties and challenges for Swiss companies when exploring investment plans in Vietnam. However, according to Mr. Frédéric Montier, Vietnam is a country that always welcomes businesses.

“Vietnam has a great quality of life and another aspect, which is sometimes forgotten in discussions, is that they are actively developing infrastructure,” he said./.

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/bao-thuy-si-danh-gia-tiem-nang-phat-trien-kinh-te-cua-viet-nam-post1036195.vnp