Switzerland grants 5 million CHF for Vietnam’s trade promotion policy hinh anh 1At the signing ceremony. (Photo: VNA)

Hanoi (VNA) – The Vietnamese Ministry of Industry and Trade (MoIT) and the Swiss State Secretariat for Economic Affairs (SECO) signed an agreement in Hanoi on October 22 on the Swiss Government’s commitment of non-refundable aid worth 5 million CHF for a project on improving Vietnam’s trade and export promotion policy.

The project, implemented from 2021-2024, aims to improve the efficiency of trade activities and global competitiveness of small and medium-sized enterprises (SMEs) via enhancing framework conditions for trade, improving public-private dialogue mechanism and building an ecological system for trade promotion.

It has a budget of 5.672 million CHF, 5 million CFH of which will be provided by the Swiss Government and the remainder from the Vietnamese Government and policy beneficiaries.

The project will provide technical assistance to the MoIT to help deal with challenges such as shaping Vietnam’s export-import development strategy for the next decade and promoting digitalisation for SMEs.

Vietnamese Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said the project marks an important milestone in celebrating the 50th anniversary of Vietnam – Switzerland ties and 30 years of bilateral economic and technical cooperation, contributing to their commitments to Vietnam’s sustainable socio-economic development.

Carried out by the MoIT with technical support of the International Trade Centre, it is one of the most important projects under the 2021-2024 cooperation programme conducted by the SECO./.