Vietnam, Liechtenstein Boost Bilateral Cooperation

Hereditary Prince of Liechtenstein Alois said they will encourage its businesses to actively seek investment cooperation opportunities in Vietnam

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Vietnam, Liechtenstein Boost Bilateral Cooperation
Hereditary Prince Alois of the Principality of Liechtenstein and Vietnamese Ambassador Phung The Long. Photo: VNA

Liechtenstein wishes to promote cooperation with the Asia-Pacific region, especially Vietnam, which is a destination for many foreign businesses and investors, to promote the potential and strengths of each country, Hereditary Prince Alois of the Principality of Liechtenstein told Vietnamese Ambassador Phung The Long, VNA reported Saturday.

In a recent meeting with the Vietnamese diplomat, who presented a letter of credentials to him, Prince Alois congratulated Ambassador Linh on her appointment, and said the Liechtenstein government will encourage its businesses to actively seek investment cooperation opportunities in the Southeast Asian country, he stated.

He spoke highly of Vietnam’s success in preventing and controlling the Covid-19 pandemic, as well as in post-pandemic economic recovery.

For his part, Long, Ambassador to Switzerland and Liechtenstein respectfully conveyed the regards of the Vietnamese Party and State leaders to Prince Hans-Adam II and Hereditary Prince Alois, and expressed his wish to welcome the Princes in Vietnam at an appropriate time.

He promised to make every effort to further promote the relations between Vietnam and Liechtenstein, both bilaterally and multilaterally, including enhancing the exchange of delegations at all levels and creating favourable conditions for businesses to explore each other’s markets and promote trade-investment bond between the two sides.

On the occasion, the Vietnamese diplomat paid a courtesy visit to Liechtenstein’s Minister of Foreign Affairs, Education and Sports Dominique Haster, and worked with leaders of agencies in charge of economic, investment and development cooperation of Liechtenstein to discuss measures to further promote bilateral cooperation in the time to come.

Liechtenstein is one of the four smallest countries in Europe with an area of 160km2 and a population of 39,055 but the third highest GDP in the world in 2021. In terms of economic structure, Liechtenstein’s production and construction accounted for 45.8%, the service sector accounted for 54.1% (mainly finance, insurance, audit and legal), the agricultural sector. accounted for 0.1%. 98% of businesses in the country are private and only 0.2% are state-owned. Due to limited human resources, 55.8% of Liechtenstein’s human resources come from neighboring countries such as Switzerland, Austria and Germany.

Vietnam established diplomatic ties with Liechtenstein in 2008.

Hannah Nguyen