Vietnam Seeks Deeper Cooperation with Switzerland on Digital Assets

Vietnamese Deputy Prime Minister Nguyen Van Thang proposed to the Swiss canton of Zug and the Crypto Valley Fund to strengthen cooperation in human resource training and the development of digital asset market infrastructure for Vietnam. The proposal was made during a meeting with the government of the canton of Zug and the Crypto Valley venture capital fund in Zurich on July 28. According to the Deputy Prime Minister, Vietnam possesses numerous advantages for attracting investment funds, technology enterprises, and international financial organizations, owing to its population of approximately 100 million people, a young demographic structure, and a developing technology startup ecosystem. He cited data indicating that the annual flow of digital asset capital through Vietnam is estimated to be around 220 billion USD. He requested that the canton of Zug and Crypto Valley enhance collaboration in human resource training, policy consultation, and the development of digital asset market infrastructure, as well as foster connections within the blockchain business community. Furthermore, he urged Crypto Valley to expand its investments, particularly in Vietnamese technology startups. Vietnam is actively promoting the establishment of International Financial Centers in Ho Chi Minh City and Da Nang, and is progressively refining its legal framework for digital assets and digital financial models. The Swiss canton of Zug is recognized as one of the world's leading blockchain hubs, featuring the Crypto Valley ecosystem, which concentrates companies operating in the blockchain, digital assets, and financial technology sectors. Alberto Diaz, a representative from the Department of Economic Affairs of the Canton of Zug, affirmed the region's readiness to cooperate with Vietnam in areas such as financial technology, innovation, human resource training, and sharing experiences in building a favorable environment for technology enterprises. Meanwhile, Olaf Hannemann, co-founder of the Crypto Valley Fund, assessed Vietnam's potential to become a regional hub for innovation and digital finance, attributing this to its large market size, rapid digital transformation, and strong reform orientation. He stated that Crypto Valley is prepared to engage with Vietnamese partners to explore further cooperation opportunities in this domain. During a forum with Swiss and European businesses and investment funds on the same day, Deputy Prime Minister Nguyen Van Thang called on Swiss financial groups, investment funds, and technology companies to participate in the development of Vietnam's International Financial Centers and to expand investments in AI and semiconductors. At the forum, Swiss and European investors expressed interest in policies regarding foreign investor ownership ratios, the development direction of capital and bond markets, the legal framework for securities, and the investment attraction mechanisms of the International Financial Centers in Vietnam. On this occasion, the Deputy Prime Minister also held working sessions with the Swiss-Asian Chamber of Commerce (Economiesuisse) and met with the community of Vietnamese experts and intellectuals working in financial institutions, technology companies, and research institutes. He instructed domestic agencies to continue building a network of overseas Vietnamese experts to enhance connectivity, knowledge sharing, and support for policy refinement in the fields of finance, technology, and innovation.