The signing took place during Haas’s official visit to Vietnam from October 17 to 19. The ceremony was held in the presence of Vietnamese Prime Minister Le Minh Hung, alongside representatives of the foreign ministries, government offices, and finance ministries of both countries.
| Vietnam and Liechtenstein sign double taxation avoidance agreement. Photo: Duc Thanh |
The agreement reflects the commitment of the Vietnamese and Liechtenstein governments to strengthening bilateral friendship and cooperation, particularly in the fields of economics, finance, and investment.
Ahead of the official signing, the Vietnam Tax Authority worked with Liechtenstein’s Ministry of Foreign Affairs at its headquarters on the afternoon of October 17 to review and initial the draft tax agreement, printed on the official treaty paper of each country. This preparatory step helped finalise the agreement’s content and documentation ahead of its formal signing by the two governments on October 18.
Vietnam and Liechtenstein established diplomatic relations on July 2, 2008. Over the past 18 years, friendly relations and cooperation between the two countries have continued to be maintained and developed.
The signing of the Double Taxation Avoidance Agreement marks an important milestone in completing the bilateral tax legal framework, laying a more favourable foundation for cross-border trade, investment, and business activities.
The agreement aims to allocate taxing rights appropriately between the two countries, prevent the same income from being taxed twice, and establish mechanisms for cooperation in implementing its provisions. It is expected to enhance the transparency, stability, and predictability of tax policies, reduce tax-related risks, and facilitate investment, production, and business activities by enterprises, organisations, and individuals resident in either country.
The agreement is also expected to strengthen investor confidence by establishing clear tax principles and rules for income arising from economic activities between the two countries. This provides an important foundation for encouraging investment flows, expanding business cooperation, and strengthening links between the Vietnamese and Liechtenstein business communities.
As of July 31, Liechtenstein had one active foreign direct investment project in Vietnam, with total registered capital of $4 million, ranking 86th among 153 countries and territories investing in the country.
The project is the TIETEX Vietnam factory in Dong Nai city. Operating in the processing and manufacturing sector, the facility primarily produces shoe insoles and also engages in import-export activities and wholesale distribution. Vietnam has no investment projects in Liechtenstein.
In trade, bilateral turnover reached approximately $10.2 million in 2025. During the first five months of 2026, Vietnam imported approximately $2.98 million worth of goods from Liechtenstein and exported approximately $1.73 million worth of goods to the country.
Economic relations between the two countries have considerable room for growth. Liechtenstein has strengths in precision engineering, industrial equipment, and machinery, while Vietnam is accelerating the development of its processing and manufacturing industries and deepening its international economic integration.
Vietnam’s strategic position as a gateway to Southeast Asia also provides favourable conditions for businesses from both countries to explore cooperation opportunities, expand into new markets, and participate more deeply in regional and global supply chains.
Against this backdrop, the Double Taxation Avoidance Agreement is expected to strengthen the legal foundation for bilateral economic relations and create a more transparent and favourable tax environment. It will help businesses assess their tax obligations more effectively and improve the efficiency of their investment and commercial operations.
The signing further underscores Vietnam’s proactive approach to international integration in finance and taxation. It also demonstrates the country’s commitment to expanding international tax cooperation, improving its tax policy framework, and building a transparent and stable investment and business environment in line with international practices.
As of October 2026, Vietnam had signed 82 double taxation avoidance agreements with countries and territories worldwide, of which 78 had entered into force. Continued expansion of this network helps strengthen cooperation between competent authorities, facilitate the resolution of tax issues arising from cross-border activities, and boost tax compliance.
The signing of the Double Taxation Avoidance Agreement between Vietnam and Liechtenstein marks a significant step forward in bilateral economic and financial cooperation, reflecting mutual trust and a shared commitment to collaboration. With this legal framework in place, both countries will be better positioned to encourage trade, investment, and business activities, paving the way for more substantive, effective, and mutually beneficial bilateral relations.
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