Prime Minister Calls on Swedish Businesses to Strongly Invest in Vietnam

Swedish businesses are invited to invest in Vietnam and join hands in turning “no” into “yes,” leveraging collective strength to achieve shared success.

Prime Minister Phạm Minh Chính delivered this message at the Vietnam–Sweden Business Forum held on June 12 during his official visit to Sweden.

Speaking at the event, Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa noted that relations between Vietnam and Sweden have continued to grow and bring tangible value. In the context of today’s rapidly changing global landscape, the two countries have new opportunities and must deepen cooperation across all areas.

According to Minister Dousa, Vietnam’s national development strategy aligns closely with Sweden’s, emphasizing science, technology, innovation, and digital transformation—alongside a strong push for green and digital transitions.

“In 2024, total bilateral trade between Vietnam and Sweden reached USD 1.48 billion. Sweden currently ranks 29th out of 149 countries and territories investing in Vietnam, with 111 valid projects and total registered capital of USD 743.39 million.”

He emphasized that governments are responsible for policy-making, but it is the enterprises themselves that are the key drivers of cooperation in green transition, digital transformation, and innovation. Sweden, he said, has a high-quality workforce, numerous leading enterprises across sectors, cutting-edge clean technologies, and a globally connected network—giving it strong potential to partner with Vietnam for mutual development.

For his part, Prime Minister Phạm Minh Chính acknowledged that, due to both subjective and objective reasons, the transition between Vietnam and Sweden from aid-based relations to development cooperation had not sufficiently built on their previously established foundations. Therefore, the current task is to revive tradition, build on core values, draw lessons from the past, overcome shortcomings, and move forward with greater determination and strength to usher in a new phase in bilateral ties.

The Prime Minister emphasized the need to inspire and motivate businesses, enabling both governments to refresh existing engines of growth and create new ones. With vast cooperation potential, he called on businesses from both countries to take the lead in unlocking new opportunities.

He further stressed that both governments should play a facilitating role, offering strategic plans and programs that allow businesses to collaborate, invest, and grow. Enterprises must proactively connect not only between Vietnam and Sweden, but also link the two economies with ASEAN, Northeast Asia, and Northern Europe—all vast and dynamic markets.

“Currently, over 70 Swedish enterprises are operating in Vietnam, including Ericsson, ABB, IKEA, Electrolux, Volvo, and H&M. Vietnamese investment in Sweden remains modest, with three projects totaling nearly USD 1 million.”
The Vietnamese Government is now focused on institutional reform, infrastructure development, and human resource training, striving for “transparent institutions, seamless infrastructure, and smart labor and governance.”

Vietnam is implementing synchronized strategies to drive transformation, including:

• Reorganizing the political system and establishing two-tier local government;
• Advancing science, technology, innovation, and digital transformation;
• Deepening international integration;
• Enhancing legislation and enforcement;
• Promoting private sector development;
• Building an independent, self-reliant, and deeply integrated economy.

Reaffirming that the highest goal of the Vietnamese Party and State is to build an independent, free nation where people live in prosperity and happiness, the Prime Minister pledged to ensure the legitimate rights and interests of businesses, political stability, public order, and policy predictability—providing a secure environment for stable and sustainable investment.

He expressed his belief that starting July 1, the cumbersome, bureaucratic processes that have previously hindered investors will largely be eliminated—or at least significantly reduced.

The Prime Minister also reaffirmed that Vietnam will achieve its development goals, especially with the support of businesses—both Vietnamese and Swedish. He therefore voiced his confidence that a new wave of Swedish investment into Vietnam is on the horizon.

In the spirit of “say it, do it; once committed, deliver; once acting, create results,” Prime Minister Phạm Minh Chính pledged that the Vietnamese Government will do its utmost to generate new momentum and strength for bilateral relations.

He concluded by stating that Vietnam and Sweden share a solid foundation, core values, a shared vision, a will to act, and a community of smart, adaptive, and creative entrepreneurs—who understand what they must do for themselves, for their nations, and for the relationship between the two countries.

Finally, the Prime Minister called on Swedish investors, enterprises, and partners to come to Vietnam in fields where they have strengths, and together:
“Turn ‘no’ into ‘yes’, ‘difficult’ into ‘easy’, and ‘impossible’ into ‘possible’. Combine strengths and invest profitably.”