Switzerland Proposes Vietnam Crypto Valley Link as EFTA Pact Is Signed

Guy Parmelin proposed connecting Switzerland’s Crypto Valley to Vietnam’s innovation sector, with cooperation spanning blockchain, artificial intelligence and quantum technology, alongside a separate free-trade agreement.

Parmelin made the proposal during a visit to Hanoi on Oct. 17. It called for cooperation in blockchain, artificial intelligence and quantum technology, but announced no specific crypto project, funding commitment or implementation schedule.

On Oct. 18, Vietnam and the four states of the European Free Trade Association (EFTA) — Switzerland, Iceland, Norway and Liechtenstein — signed a free-trade agreement in Hanoi. The agreement has not yet entered into force.

The pact covers trade in goods and services, investment, intellectual property and government procurement. Trade between EFTA member states and Vietnam totaled €4.8 billion in 2025, with Vietnam’s trade surplus at €2.5 billion.

The trade agreement addresses broader economic ties, while Parmelin’s technology proposal remains a separate initiative.