PM emphasises role of Vietnamese, Swedish businesses in linking two economies

Prime Minister Phạm Minh Chính said the two governments would play a facilitating role by setting out major strategies, programmes, and plans, and by creating favourable conditions for businesses to cooperate, invest, and grow together.

Prime Minister Phạm Minh Chính expressed his hope that businesses from Việt Nam and Sweden would take the initiative to connect with one another and link the two economies, while co-chairing a business forum in Stockholm on June 12 (local time).

The leader said the two governments would play a facilitating role by setting out major strategies, programmes, and plans, and by creating favourable conditions for businesses to cooperate, invest, and grow together.

He noted that the Vietnamese government is focusing on consolidating institutions, developing infrastructure, and enhancing human resource training.

Việt Nam is currently implementing a comprehensive set of strategies, including restructuring the political system and two-tier local administration; promoting science, technology, innovation, and digital transformation; advancing international integration; building and enforcing laws; fostering the development of the private sector; and building an independent, self-reliant economy, the PM told the forum.

The leader affirmed that Việt Nam guarantees the legitimate rights and interests of businesses, ensures political stability, social order and safety, and maintains consistent policies — all to provide a secure environment for enterprises to invest, operate, and grow in a stable and sustainable manner.

Chính expressed his belief that, with the strong core values and sound relationship between Việt Nam and Sweden, a new wave of Swedish investment in Việt Nam can be expected in the near future.

He also called for greater determination, stronger efforts, and a renewed approach to elevate the Việt Nam–Sweden relationship to a new stage of development.

Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa, who co-chaired the forum, held that amid today’s rapidly changing global landscape, Việt Nam and Sweden have new opportunities and an even greater need to strengthen cooperation across all areas.

The minister said Sweden possesses a highly skilled workforce and is home to major companies across most sectors, known for advanced technology, clean technology, high-quality services, and a strong global network. This gives Sweden strong potential and capability to cooperate effectively with Việt Nam for mutual development.

Participating enterprises highlighted their potential and strengths, shared experiences, and expressed interest in investment cooperation across various fields with a focus on accelerating green transition, fostering innovation, and transforming industries through digitalisation.

In 2024, bilateral trade reached US$1.48 billion. Sweden currently ranks 29th out of the 149 countries and territories investing in Việt Nam, with 111 active projects and a total registered capital of $743.39 million.

More than 70 Swedish companies are operating in Việt Nam, including major names such as Ericsson, ABB, IKEA, Electrolux, Volvo, and H&M. In contrast, Vietnamese investment in Sweden remains modest, with only three projects valued at nearly $1 million.

Also at the forum, PM Chính and Minister Dousa witnessed the exchange of seven cooperation documents, covering such spheres as aviation and new-generation artificial intelligence (AI) technology development.