Switzerland has announced that it will increase development aid to Vietnam in the next four-year period to 123 million Swiss francs (132.8 million USD).
This represents an increase of about 50 percent compared with the budget for the previous four-year period, according to Swiss Ambassador to Vietnam Andrej Motyl.
In line with Vietnam’s aim to become an industrialised country by 2020 and its middle-income status. Motyl said the focus will shift from poverty reduction to economic development cooperation.
The new development framework stresses supporting Vietnamese small-and medium-sized enterprises (SMEs) to increase their productivity and competitiveness through better access to credit.
“If SMEs wither away, the whole future of the economy will be at stake,” he said.
Since 1992, Switzerland contributed about 3600 million USD to Vietnam’s socio-economic development and reform agenda.
Speaking at the launching ceremony of the new development framework in Hanoi on September 18, Deputy Minister of Planning and Investment Nguyen The Phuong applauded the Swiss help and said that Vietnam will also vow to improve the progress of Switzerland’s investment projects in the country, which totaled at about 2 billion USD in 2012.-VNA
This represents an increase of about 50 percent compared with the budget for the previous four-year period, according to Swiss Ambassador to Vietnam Andrej Motyl.
In line with Vietnam’s aim to become an industrialised country by 2020 and its middle-income status. Motyl said the focus will shift from poverty reduction to economic development cooperation.
The new development framework stresses supporting Vietnamese small-and medium-sized enterprises (SMEs) to increase their productivity and competitiveness through better access to credit.
“If SMEs wither away, the whole future of the economy will be at stake,” he said.
Since 1992, Switzerland contributed about 3600 million USD to Vietnam’s socio-economic development and reform agenda.
Speaking at the launching ceremony of the new development framework in Hanoi on September 18, Deputy Minister of Planning and Investment Nguyen The Phuong applauded the Swiss help and said that Vietnam will also vow to improve the progress of Switzerland’s investment projects in the country, which totaled at about 2 billion USD in 2012.-VNA
