Ho Chi Minh City and EFTA discuss investment and trade cooperation and green transformation initiatives

Ho Chi Minh City hosted a meeting with the European Free Trade Association (EFTA) Parliamentary Committee delegation led by Nikolai Astrup during their visit to the city to discuss expanding investment, trade and green transformation, innovation and related fields. In the afternoon of April 22, Deputy Chairman of Ho Chi Minh City People’s Committee, Bui Minh Thanh, chaired the meeting with the EFTA delegation led by Nikolai Astrup, the Chair of the EFTA Parliamentary Committee, during their visit to Ho Chi Minh City. During the meeting, Mr. Astrup stated that the visit to Vietnam aims to mobilize political support for the early completion of the Vietnam–EFTA Free Trade Agreement; to deepen understanding of Vietnam's political context and development dynamics; to assess opportunities and challenges for future trade agreements; to promote cooperation and increase EFTA's role and influence in Vietnam. The delegation also sought to learn about Ho Chi Minh City's development directions; administrative reform, decentralization and its impact on businesses and commercial activities; its role in regional and global value chains, as well as digital and green transformation. Mr. Astrup expressed hope that once signed, the Vietnam–EFTA FTA will help promote cooperation further between the two sides. The EFTA Parliamentary Committee represents parliamentarians from four member countries: Iceland, Liechtenstein, Norway, and Switzerland. The Committee's functions include supervising the work of the EFTA Secretariat, promoting political cooperation and dialogue with the European Parliament, especially within the European Economic Area framework. On behalf of the city's leadership, Deputy Chairman Bui Minh Thanh expressed thanks to the governments of the European Free Trade Association for their attention, support, and collaboration in the socio-economic development of Vietnam and Ho Chi Minh City. The city also appreciated the lawmakers' willingness to push for political support to expedite negotiations on the Vietnam–EFTA FTA, as well as their interest in the city's development and future cooperation prospects. The Ho Chi Minh City–EFTA relationship has developed well; the city’s trade turnover with EFTA countries exceeded US$2.2 billion in 2025; in Q1 2026, it topped US$784 million, up about 25% year-on-year. EFTA currently has 216 investment projects in Ho Chi Minh City with total capital close to US$700 million. Deputy Chairman Thanh noted that after consolidation, Ho Chi Minh City's economy exceeds US$120 billion in size, accounting for 23.5% of the country’s total GDP. Local budget contributions exceed 30% of national totals. Despite global volatility, the Government and the City have timely implemented social welfare policies, price stabilization, and proactive use of alternative energy to ensure the supply chain. By 2030, the City plans to allocate significant resources to shift transportation to electricity, promote green transport; and to push urban rail projects. Simultaneously, it will continue to improve the institutional framework, mobilize public–private partnerships for infrastructure and waste treatment technology, and adhere to green, sustainable development. The City invites EFTA partners to strengthen high-quality trade and investment in fields such as finance, blue economy, green transformation, and smart urban development; and to promote business connectivity, technology transfer and workforce training, aiming for early approval of the Vietnam–EFTA FTA. Ho Chi Minh City commits to maintaining a stable investment environment, protecting investors' rights and providing conditions for businesses, including EFTA enterprises, to operate long-term and efficiently. From April 20 to 24, 2026, the EFTA parliamentary delegation will undertake an official visit to Vietnam. The visit occurs in the context of the ongoing negotiations toward the Vietnam–EFTA FTA, following the 19th round of talks in Geneva from February 24–27, 2026, and a recent working visit to Hanoi by Swiss State Secretary for Economic Affairs and Norway’s State Secretary for Trade and Industry. The 20th round of negotiations will also take place in Hanoi with the participation of the respective negotiating teams.