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Prime Minister Pham Minh Chinh emphasized the need to inspire and motivate enterprises to join the two governments in reinvigorating existing dynamics and fostering new ones. There is ample room for collaboration, and businesses from both countries must take the lead in exploring these opportunities. – Photo: VGP/Nhat Bac
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Against the backdrop of strong political relations, the economic ties between Vietnam and Sweden have been flourishing. In 2024, the two-way trade turnover reached 1.48 billion USD. Sweden currently ranks 29th out of 149 countries and territories investing in Vietnam, with 111 valid projects and a total registered capital of 743.39 million USD.
Over 70 Swedish companies are operating in Vietnam, including well-known names such as Ericsson, ABB, IKEA, Electrolux, Volvo, and H&M. Conversely, Vietnamese investments in Sweden remain modest, with only 3 projects totaling nearly 1 million USD.
Recognizing the untapped potential in areas such as science, technology, innovation, telecommunications, green, digital, and circular economy, education, infrastructure development, renewable energy, and defense industry, the forum witnessed businesses from both countries presenting their strengths and sharing experiences, as well as expressing their desires to collaborate, with a focus on accelerating the green transition, innovation, and industry transformation through digitalization.
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Swedish Minister for International Development Cooperation and Trade, Benjamin Dousa, spoke at the forum – Photo: VGP/Nhat Bac
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Minister Benjamin Dousa acknowledged the evolving Vietnam-Sweden relations, which have yielded tangible outcomes. In today’s dynamic global landscape, both countries have new opportunities to strengthen cooperation across all sectors.
Minister Dousa commended the forum’s theme and expressed admiration for Vietnam’s recent development and its national development strategy. He noted the alignment between Vietnam’s strategy and Sweden’s focus on science, technology, innovation, and digital transformation, as well as green and innovative transitions.
Emphasizing the role of governments in policy formulation and that of businesses as the driving force behind bilateral cooperation in green transition, digital transformation, and innovation, Minister Dousa highlighted Sweden’s highly skilled workforce and the presence of prominent Swedish companies in various sectors, offering advanced technologies, clean solutions, and global networks. This positions Sweden well for productive collaboration with Vietnam toward mutual progress.
Addressing the forum, Prime Minister Pham Minh Chinh conveyed the warmest regards and best wishes from General Secretary To Lam, President Luong Cuong, and Chairwoman of the National Assembly Tran Thanh Man to the delegates. He shared that the Vietnamese people hold fond memories of Sweden, including images of the late Swedish Prime Minister Olof Palme leading a torchlight procession against the Vietnam War, celebrations in Sweden following Vietnam’s liberation and reunification, and iconic projects such as the Sweden-Vietnam Hospitals and the Bai Bang Paper Mill. These gestures embody Sweden’s humanitarian values and love for peace.
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A large number of Swedish businesses attended the forum – Photo: VGP/Nhat Bac
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The Prime Minister attributed the setbacks in the Vietnam-Sweden relationship during the transition from aid to comprehensive cooperation to objective and subjective factors, including a failure to build upon the solid foundation established previously. Now, the task at hand is to uphold traditions, draw on foundational values, learn from past experiences, and approach the future with renewed determination and vigor, propelling the relationship to new heights.
Prime Minister Pham Minh Chinh underscored the importance of inspiring and motivating enterprises to join the two governments in reinvigorating existing dynamics and fostering new ones. There is ample room for collaboration, and businesses from both countries must take the lead in exploring these opportunities.
The Prime Minister expressed his belief that the two governments would act as facilitators, providing strategic direction and creating favorable conditions for businesses to collaborate and invest for mutual growth. He encouraged enterprises from both countries to proactively connect with each other and bridge their respective economies, not only between Vietnam and Sweden but also with ASEAN, Northeast Asia, and Northern Europe, offering access to vast markets.
The Vietnamese government is committed to refining institutions, developing infrastructure, and enhancing human resources to ensure “open institutions, seamless infrastructure, and intelligent human resources and governance.”
Vietnam is currently implementing synchronous strategies to facilitate its transformation, including reorganizing the apparatus of the political system and local administration at two levels; promoting science, technology, innovation, and digital transformation; international integration; law building and enforcement; developing the private economic sector; and fostering an independent, self-reliant economy that actively integrates into the global economy in a substantive and effective manner.
The Prime Minister affirmed that the Vietnamese Party and State have no greater goal than building an independent and prosperous country and ensuring the happiness of its people. Vietnam is dedicated to safeguarding the legitimate rights and interests of businesses, maintaining political stability and social order, and ensuring consistent policies to foster a stable and sustainable investment environment.
Prime Minister Pham Minh Chinh expressed his confidence that, starting July 1st, the hassles and delays in granting licenses to investors will be significantly reduced, if not entirely eliminated. He assured that Vietnam will accomplish its set goals with the support of businesses, including those from Vietnam and Sweden. As a result, he anticipates a new wave of Swedish investment in Vietnam.
Embodying the spirit of “saying and doing,” “committing and fulfilling,” and “doing and producing results,” the Prime Minister assured that the Vietnamese government would spare no effort to contribute to the strength and momentum of the bilateral relationship.
The Prime Minister emphasized the shared foundational values, common vision, and determination to act between the two countries. He also highlighted the presence of intelligent, flexible, and creative business communities that understand their responsibilities to their nations and the importance of their contributions to the relationship between Vietnam and Sweden.
Prime Minister Pham Minh Chinh called on Swedish investors, businesses, and partners to engage in areas of strength, working together to “turn the impossible into the possible, the difficult into the easy, and the possible into reality,” synergizing strengths for profitable ventures.
During the forum, witnessed by Prime Minister Pham Minh Chinh and Swedish Minister for International Development Cooperation and Trade, seven cooperation documents were signed between agencies and enterprises of the two countries.
Binh Dinh Provincial People’s Committee granted an investment registration certificate to Syre Company from Sweden for the construction of a high-tech polyester fabric recycling plant in Binh Dinh with an investment of nearly 1 billion USD.
Vietnam Airlines and Scandinavian Airlines agreed to cooperate in a code-sharing partnership to enhance air connectivity between Vietnam and the Scandinavian region (Denmark, Norway, and Sweden), offering passengers more convenient flight options and seamless journeys.
FPT Group signed a cooperation agreement with WARA Media & Language, an AI research ecosystem under Sweden’s largest private research organization, to develop next-generation AI technologies, fostering groundbreaking and responsible innovations within one of Europe’s most dynamic AI ecosystems.
Nhat Quang
– 08:50 13/06/2025
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