Switzerland and Vietnam Deepen Ties with $50 Million Sustainability Fund
Marking 35 years of development cooperation, Switzerland has announced a new initiative to support Vietnam’s sustainable growth. The Swiss State Secretariat for Economic Affairs (SECO) will provide USD 50 million in funding for the period 2025 to 2028, continuing a long-standing partnership focused on innovation, sustainability, and economic progress.
At a celebratory event held on May 29 by the Swiss Embassy in Hanoi, officials from both countries reflected on decades of collaboration. Since 1991, Switzerland has shifted its development support in Vietnam from basic poverty reduction to more advanced goals like sustainable trade, innovation, and finance.
So far, Switzerland has committed a total of 650 million Swiss francs (approximately USD 800 million) in official development assistance (ODA) to Vietnam. This support has helped shape Vietnam’s legal systems, enhance the safety of its financial sector, and create better conditions for business and investment.
According to Swiss Ambassador Thomas Gass, Vietnam is a key partner for Switzerland in Asia. The funding provided by Switzerland is a critical sign of the confidence it has in Vietnam’s future, not to mention their shared goals of building a greener, more inclusive economy.
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Driving Sustainable Change
Swiss-funded programs have already had a major impact. Trade initiatives have supported over 60 organizations and helped more than 10,000 businesses develop sustainable production methods. Meanwhile, over 2,000 startup entrepreneurs have successfully raised investment capital worth 124 million CHF, helping drive innovation.
Small and medium-sized enterprises (SMEs) have also benefited, with access to USD 33 billion in additional funding through credit schemes tied to innovation and sustainability.
Environmental benefits are equally notable. With Swiss support, traditional industrial zones in Vietnam are being transformed into eco-industrial parks. These efforts have saved 850,000 cubic meters of water annually and cut carbon emissions by nearly 40,000 tons.
Looking Ahead: 2025–2028 Program
The newly launched 2025–2028 Cooperation Program will focus on three key areas:
- Championing sustainable trade and innovation
- Fortifying sustainable public and private finance
- Building climate-resilient industries and urban areas
Ambassador Gass highlighted that these priorities align with Vietnam’s goals to become a high-income, climate-resilient country by 2045 and achieve net-zero emissions by 2050. He added that the program will “contribute meaningfully to Vietnam’s new era of sustainable growth.”
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Since 2013, Vietnam has been listed as a priority country under SECO’s global economic development programs. With the new funding, Switzerland continues to play an instrumental role in supporting Vietnam’s transition to a green economy and a more resilient future.
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Source: Vietnam net Global
