A delegation made up of Swedish small and medium-sized enterprises held a working session with representatives from the Ho Chi Minh City Department of Industry and Trade on March 11.

During the reception, they gained greater insights into overall business opportunities in Vietnam in general and Ho Chi Minh City in particular, as well as ways to start operations in the country by gathering information related to such fields as agriculture, energy, maritime, and automation.

Nguyen Thi Hoang Thuy, head of the Vietnam Trade Office in Sweden, said the trip by Swedish enterprises came less than a week after the visit made by a delegation of the Swedish Parliament’s Committee on Foreign Affair led by its Chairman Aaron Emilsson

These trips serve to demonstrate the Scandinavian country’s growing interest in the Vietnamese market, she added.

Earlier in February, Industry and Trade Minister Nguyen Hong Dien held a working session with the People's Committee of Binh Dinh province regarding Swedish Syre Group’s investment in a high-tech fabric production complex project in Nhon Hoi A Industrial Park.

At the meeting, Tim King, senior operations director of Syre Group, unveiled the firm’s plan to inject money in the polyester fiber recycling complex project in Binh Dinh.

According to the Binh Dinh People's Committee, Syre Group’s investment plays an important role in turning Vietnam into a global circular textile and garment industry hub, contributing to the development of the green economy.

Recently, Swedish fashion giant Hennes & Mauritz (H&M) also intended to expand its supply chain and production in Vietnam to take the full advantage of its labour, infrastructure, and sustainable development potential.

Thuy emphasised that Vietnam is becoming an attractive destination for Nordic businesses thanks to its strategic location, abundant labour force, and competitive costs.

In  recent years, an increasing number of companies from Sweden, Denmark, Finland, and Norway have chosen Vietnam as a destination to expand their production activities.

A key factor that has pushed up the shift, according to experts, is the 2020 enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), which has significantly reduced tariffs and created favourable conditions for Nordic businesses to export from Vietnam to Europe.

Vietnam bolsters co-operation with Sweden for green future

VOV.VN - The Embassy and Trade Office of Sweden in Vietnam opened a green exhibition and launched the “Sweden - Vietnam Business Footprint” on October 21, with the event affirming the European nation’s commitment to promoting bilateral ties for a green future.