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35 years after the establishment of diplomatic relations between Vietnam and Switzerland the two countries have signed a cooperation agreement regarding the modernisation of Vietnam's railway signalling system. In addition to Vietnam's contribution of CHF 3 million, Switzerland is contributing a total of CHF 16.5 million to the project with half provided in the form of a grant from SECO and the other half in the form of a loan provided by a consortium of Swiss banks. The equipment and know-how for fitting seven large stations along the north-south railway line with modern signalling systems will be provided by Swiss companies.
The north-south rail axis linking Hanoi with Ho Chi Minh City is one of the country's most important routes. At present there are serious safety deficiencies and operational shortcomings and the government has declared the elimination of these problems a priority. The improvement of this public transport link is vital to the country's sustainable economic and social development. It is SECO's largest project in Vietnam to date. Since the start of the 1990s, SECO has provided over CHF 70 million towards supporting the country's development and reform process.
State Secretariat for Economic Affairs