The Free Trade Agreement between Vietnam and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein, creates conditions for investment, services, technological innovation, knowledge exchange, technical standards, sustainable development and skills training.
Dr. Luu Vinh Toan, an information technology expert based in Switzerland, told the Vietnam News Agency that the four EFTA states have small populations but high levels of development, income and purchasing power, advanced technology and strong governance standards. Switzerland can offer technology, standards, capital and management expertise, while Vietnam has manufacturing capacity, skilled workers, a large market and a strategic position as a gateway to ASEAN.
Toan identified precision manufacturing and automation, pharmaceuticals, medical devices and biotechnology, high-value agri-food models, the green transition, water management, urban planning, finance, capital and risk management as areas for deeper cooperation.
He said workforce training and exchanges should become a major part of the relationship. Switzerland's model, in which companies take a direct role in vocational training, fits Vietnam's needs in precision engineering, electronics, food technology, logistics and environmental technology. Swiss companies investing in Vietnam would gain access to trained workers, while young Vietnamese specialists could acquire skills, higher incomes and access to high-value industries.
The Association of Vietnamese Intellectuals and Experts in Switzerland plans to connect experts, universities, companies and localities, identify practical challenges in Vietnam for pilot projects and broker partnerships.
Ly Pham, a business development specialist at JANZZ.technology, called the agreement a turning point for businesses in both countries. She expects a new wave of Swiss foreign direct investment in Vietnam, especially in projects with high technological content, high added value and a strong focus on sustainability.
Pham also identified high technology, fintech and green finance, biotechnology, quality healthcare, vocational education and training as promising areas. Switzerland has strengths in innovation, advanced technology, specialised data and finance, while Vietnam offers skilled workers and a fast-growing digital market.
Pham said Switzerland's dual vocational training model could help Vietnam raise workforce skill standards. Swiss expertise in hospitality and tourism management, combined with Vietnam's tourism potential, could create new opportunities. She said the agreement and the Swiss president's visit could turn strategic commitments into concrete projects and make bilateral ties more substantive and sustainable.
Sources: VietnamPlus / Vietnam News Agency
