Vietnam’s foreign direct investment (FDI) landscape in the first half of 2025 shows strong growth and notable shifts in geographic investment patterns. Notably, Sweden has emerged as one of the top countries with newly licensed FDI projects, marking a clear trend of increased Nordic presence in the Vietnamese market. Denmark is also positioning itself as a strategic investor in clean energy and green industry, continuing its sustainable investment initiatives in Southeast Asia.

FDI Surge – Sweden Among the Top New Investors
According to data from the Foreign Investment Agency (Ministry of Finance), as of June 30, 2025, total registered FDI into Vietnam reached USD 21.52 billion, up 32.6% compared to the same period in 2024. Newly registered capital accounted for USD 9.29 billion across 1,988 projects, a 21.7% increase in project numbers. The processing and manufacturing industry remained the most attractive sector, receiving over 54% of total new capital.

Among 72 countries and territories with newly registered investment in Vietnam, Sweden surprisingly ranked third, with USD 1 billion—equivalent to 10.8% of newly committed capital—trailing only Singapore and China. Sweden’s rise highlights the Nordic region’s growing commitment to shifting investment toward Southeast Asia, with Vietnam seen as a strategic destination thanks to its political stability, large market potential, and increasingly modernized manufacturing infrastructure.

Denmark – A Strategic Newcomer in Green Industry and Clean Energy
In parallel with Sweden, Denmark has recently emerged as a noteworthy investment partner, particularly in green transition sectors. Leading Danish corporations such as Ørsted, Vestas, and COWI are ramping up their presence in Vietnam through offshore wind power projects, logistics infrastructure, technical consulting, and sustainable development.

The most prominent project is by Danish group LEGO, worth between USD 1 billion and 1.3 billion, which was officially inaugurated in April 2025 in Binh Duong province. This marks LEGO’s sixth factory globally and its first carbon-neutral facility in Vietnam, set to operate entirely on renewable energy (solar and battery storage) by early 2026.

The project is expected to create approximately 4,000 jobs and lay the foundation for a green and sustainable supply chain. LEGO also plans to establish a distribution center in Dong Nai province to serve the broader Asian market.

According to experts, the shift of capital from traditional European industrial hubs to Southeast Asia—particularly from Nordic countries to Vietnam—reflects post-COVID-19 supply chain restructuring and aligns with the environmental, social, and governance (ESG) standards that Nordic investors prioritize.

Positive Signals from Nordic Investment Flows
Sweden’s leap into the group of top countries by newly committed FDI not only signals growing investment momentum but also reflects a long-term strategic approach by Nordic enterprises in Vietnam. The most attractive sectors include high-tech manufacturing, renewable energy, green logistics, financial and insurance services, and digital transformation solutions.

Both Sweden and Denmark are global leaders in innovation, environmental protection, and sustainable development—criteria that are becoming key competitive advantages for Vietnam in attracting high-quality FDI.

Policy Recommendations
To sustain and capitalize on the ongoing investment shift from the Nordics, Vietnam should:

• Accelerate administrative reform, especially in the energy and green infrastructure sectors;
• Develop specialized industrial zones catering to “green” and “digital” investment;
• Strengthen targeted investment promotion in Nordic markets through collaboration with embassies, trade offices, and business associations;
• Advance the regulatory framework for ESG and carbon taxation to support responsible investors.

Vietnam is at a pivotal moment to position itself as a strategic investment hub for Nordic countries in Asia. The strong entry of Sweden and Denmark into the Vietnamese market in 2025 is a clear testament to this trend—opening the door to long-term, sustainable, and effective partnerships between two regions that share common values around green development and innovation.

(Vietnam Trade Office in Sweden, concurrently accredited to Denmark, Norway, Iceland, and Latvia)