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Vietnam-Sweden Business Forum 2024 opens

Berlin (VNA) – The Vietnam-Sweden Business Forum 2024 was held in celebration of 55 years of bilateral diplomatic relations by the Vietnamese Embassy and the Vietnam Trade Office in Sweden, and FPT Corporation in Stockholm on September 6.

Themed “Digital Transformation, Energy Transition, and Innovation: Cooperation for a Sustainable Future,” the event aimed to facilitate collaboration between Vietnamese and Swedish businesses in various sectors.

Attendees included Vietnamese Ambassador to Sweden Tran Van Tuan, Director General of Trade Policy at Sweden’s Ministry of Foreign Affairs Camilla Mellander, and Le Khac Nam, Vice Chairman of the Hai Phong city People’s Committee, alongside representatives from both countries’ enterprises.

Over the past five decades, the two countries have maintained strong, mutually beneficial ties across politics, economy, science, and culture. In particular, bilateral trade and investment have grown significantly, however, there remains ample potential for further cooperation in high-tech sectors such as digital transformation and energy transition.

Ambassador Tuan highlighted that Vietnam’s economy is increasingly driven by digitalisation, with the digital economy contributing 16.5% to GDP in 2023. He noted that both nations could greatly benefit from Sweden’s expertise in technology and innovation.

The forum featured discussions on opportunities and challenges in areas such as digital transformation, energy transition, and innovation.

Participants agreed that through close cooperation, Vietnam and Sweden can become leaders in the digital and green economies, setting examples for sustainable development.

During the event, several memorandums of understanding (MoUs) were signed, including one between Vietnam’s Trade Office and Business Sweden, aiming to enhance trade promotion and business cooperation between the two countries.

Additionally, Hai Phong’s Department of Industry and Trade signed an MoU with the Port of Gothenburg to expand logistics cooperation./.

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Denmark exports to Vietnam

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FPT opens new office in Sweden

FPT on September 6 announced the opening of its first office in Stockholm, Sweden, marking its Nordic footprint expansion. This strategic move is driven by the country’s increasing demand for digital services and high-quality IT professionals in its critical areas, including healthcare, automotive, banking and finance, and green transformation.

Located in Lindholmen Science Park, Gothenburg, Sweden’s leading innovation hub, with a vibrant ecosystem of over 375 leading companies, FPT’s new office positions the company closer to industry giants, particularly those in the automotive, energy, and manufacturing domains, such as Volvo Group, Ericsson, Telia, SAAB, IBM, and Semcon. This strategic location thereby allows FPT to enhance its ability to expand its local presence, delivery capabilities, and consulting services across Nordic and the wider European region.

Sweden, renowned for its leadership in digital transformation, boasts a robust innovation ecosystem and a comprehensive AI-focused strategy for cross-sector collaboration and investment. The Swedish government’s proactive measures to address the digital skills shortage, including attracting foreign tech players and utilising international talent, create an ideal environment for FPT to establish its presence and capitalise on the country’s growth opportunities. The IT firm also plans to build a workforce of 1,000 professionals globally in the next three years, dedicated to serving the dynamic European market.

The office inauguration occurred during the Vietnam-Sweden Business Forum on September 9, which celebrated 55 years of diplomatic relations and highlighted the shared vision of both nations to advance economic and trade ties. Hosted by the Embassy of Vietnam in Sweden and FPT, the event featured discussions on enhancing Vietnam-Sweden cooperation in digital transformation, innovation, automotive, and energy transition. It was attended by Tran Van Tuan, Ambassador of Vietnam to Sweden; Mdm. Camilla Mellander, director-general for Trade Policy at the Swedish Ministry for Foreign Affairs, alongside representatives from 50 government agencies and organisations, including Volvo Cars, Swedbank, Swedfund, Syre, and Vilja Solutions.

“Sweden was the first Western country to establish diplomatic relations with Vietnam, and our longstanding partnership is built on mutual respect and a shared vision for growth and innovation. As a leading Vietnamese corporation, FPT is committed to deepening this relationship by leveraging Vietnam’s highly skilled and resourceful IT workforce to advance technological collaborations, especially in AI, semiconductor, automotive, and green transformation. Our new office will act as a vital bridge, connecting businesses on both sides and enabling Nordic customers to innovate and grow with cutting-edge technologies, comprehensive solutions, and access to a world-class talent pool,” stated Dr. Truong Gia Binh, FPT Corporation founder and chairman.

Tran Van Tuan, Ambassador of Vietnam to Sweden said,“The Embassy of Vietnam in Sweden believes that FPT’s opening of an office in Sweden marks a positive step forward in cooperation in the fields of science and technology between the two countries. FPT’s activities in Sweden will help local businesses gain more understanding not only about FPT but also about Vietnamese businesses in general, becoming a bridge for other cooperation activities between the two nations. This is also a meaningful event contributing to the celebration of the 55th anniversary of the establishment of diplomatic relations between Vietnam and Sweden.”

FPT first entered the European market in 2008 and has since established a strong presence in nine countries, driving digital transformation for over 150 leading businesses across industries. The tech firm has also actively expanded its local footprint through strategic partnerships and acquisitions, including the acquisition of RWE IT Slovakia, a subsidiary of European energy giant RWE, in 2014, and French IT consulting firm AOSIS in 2023.

Strengthening logistics cooperation to deepen Vietnamese goods’ penetration in the EU market

Recently, Gothenburg Port (Sweden) signed a Memorandum of Understanding (MOU) with the Department of Industry and Trade of Haiphong and Saigon Newport Corporation (SNP) on logistics cooperation.

The event took place on September 6, as part of the Vietnam-Sweden Forum held to celebrate the 55th anniversary of diplomatic relations between Vietnam and Sweden. The event was organized by the Embassy of Vietnam in Sweden in collaboration with the Trade Office and FPT Corporation.

Gothenburg Port is the largest port in the Nordic region, with over 11,000 ship visits annually from more than 140 destinations worldwide. It is Sweden’s only port capable of handling the largest, most modern container ships. Gothenburg processes nearly 30% of Sweden’s foreign trade, handling 39 million tons of goods each year.

This significant event is expected to enhance cooperation to develop logistics services between enterprises and localities from both sides, contributing to increasing Vietnam’s export-import turnover with Sweden in particular and the European region in general. The following is an interview with Mr. Richard Mellgren, Senior Director of Business Development, Sales, and Marketing at Gothenburg Port, discussing this important event.

As one of the largest seaports in the Northern Europe, what do you think about the potential that Gothenburg Port would cooperate with Vietnam in this field?

I believe this is a natural step forward considering we’re this year celebrating 55 years of diplomatic relations between Viet Nam and Sweden. As member of the EU, Sweden along with the rest of the EU can enjoy the benefits of our European Union–Vietnam Free Trade Agreement. The Port of Gothenburg plays a vital role in ensuring that transports and logistics can be conducted in a smooth and efficient manner. Viet Nam is developing in a rapid speed and we’re seeing many multinational companies, including Swedish ones, establishing themselves in Viet Nam. It is of utmost importance that we as the Port of Gothenburg can guarantee access to the world for the industry and in turn this means striving to nourish the existing trade routes but also develop new ones in order to enable further commerce between Viet Nam and Sweden.

We know that The Port of Gothenburg has signed a Memorandum of Understanding with the Department of Industry and Trade of Hai Phong and Sai Gon Newport. What do you expect from the cooperation between Gothenburg Port with Hai Phong City and Sai Gon Newport in the near future? 

By having the Memorandum of Understanding with the Department of Industry and Trade of Hai Phong and Sai Gon Newport, this will hopefully send a more clear message to the market that through collaboration on both sides, our joint intentions are to make the transportation of cargo as efficient as possible and at the same time, ensuring that we continuously take into consideration how we can do it smarter and even more sustainable. There’s a long history on both sides with years of experience and knowledge, together we must cultivate this expertise to ensure that we do what we can to bring value to the parts of the supply chain where we are engaged. Hopefully we can also inspire others to seek further collaboration.

With this MOU, in your opinion, how would Viet Nam benefit when exporting to Scandinavian countries in particular and EU in general?

Again coming back to the 55 years of diplomatic relations between Viet Nam and Sweden, having the European Union–Vietnam Free Trade Agreement in place, we have come a good way to prove our intentions of building a good foundation for cooperation. By having partners in Viet Nam and in Sweden, and looking specifically at the Department of Industry and Trade of Hai Phong and Sai Gon Newport along with the Port of Gothenburg in this case, through collaboration, our ambition shall be to create value and confidence that we’re here to support the industry in the supply chain. Building relationships, developing further knowledge and best practice sharing on both sides, shall hopefully create awareness that there’s already collaboration going on and thus lowering the barrier to setting foot on unknown ground. I’d urge Vietnamese companies to make use of the European Union–Vietnam Free Trade Agreement and do reach out to various Trade organization and our organizations for guidance. We’re here to assist the industry.

To implement the MOU, what solutions would The Port of Gothenburg develop in the near future?

Here again it’s a matter of cultivating the professionalism that resides within our organizations, developing further understanding of the potentials and communicating our capabilities to the market. We’re living in a very dynamic world, so it’s important that we’re agile and respondent e.g. when it comes sustainability and the environment. As the Port of Gothenburg, we have a long history, we celebrated our 400 year anniversary 2020. We’re offering a diversified range of marine cargo solutions coupled with an extensive rail network, our Railport Scandinavia concept, connecting the port with the Swedish and Norwegian hinterland. Our knowledge base about solutions being requested in the Swedish market is good but it’s vital for us to learn more about the Vietnamese perspective in order to develop our existing and new solutions further.

As the largest seaport in Scandinavia area, what would you advice Vietnamese enterprises to increase exports volume to the Scandinavia market?

It’s well known that we’re importing a lot of goods from Asia including Viet Nam, understand your customers here in Scandinavia and what their needs and products are so that you can amongst others benefit from the European Union–Vietnam Free Trade Agreement. There are numerous regulations coming into effect, including the Corporate Sustainability Reporting Directive (CSRD), where companies are required to also document their scope 3 emissions. Be sure that you’re able to offer adequate information. Build relationships, trust, reliability and keep sustainability in mind. The Port of Gothenburg, with a 57% market share of all containers moving in/out of Sweden, is investing heavily in infrastructure to be able to accommodate vessels, port equipment, trains, trucks etc efficiently but also by offering sustainable solutions, e.g. renewable and bio fuels, onshore power, electrical charging and hydrogen stations for heavy trucks. The rail network, Railport Scandinaiva, handles more than 60% of all the containers moving to and from the port, this gives you an advantage of efficiently moving your cargo across all of Sweden.

Promoting trade, economic growth, and Vietnam-Sweden cooperation

The Vietnam Trade Office in Sweden and Business Sweden (Sweden’s Trade Office in Vietnam) have recently signed a Memorandum of Understanding (MOU) on cooperation.

The event took place on September 6, as part of the Vietnam-Sweden Forum, held to mark the 55th anniversary of diplomatic relations between Vietnam and Sweden. The event was organized by the Embassy of Vietnam in Sweden, in collaboration with the Vietnam Trade Office in Sweden and FPT Corporation.

Mr. Marcus Persson, Acting Trade Representative at Business Sweden in Vietnam, discussed the significance of this event in an interview with Cong Thuong newspaper.

Vietnam and Sweden have gone through 55 years of diplomatic cooperation, including remarkable economic cooperation. How do you evaluate the effectiveness of cooperation between the two countries in this field?

Vietnam and Sweden have enjoyed 55 years of robust diplomatic relations, marked by significant economic cooperation. Over the years, our collaboration has proven to be highly effective, fostering mutual growth and development. Swedish companies have been active in Vietnam, contributing to various sectors such as manufacturing, technology, and sustainable development. This partnership has not only facilitated trade and investment but also encouraged the exchange of knowledge and innovation.

The effectiveness of our cooperation is evident in the steady increase in bilateral trade and investments into both countries. With regards to Swedish investments into Vietnam, number of total FDI projects from Sweden picked up in 2023, with 6 new investment licenses together with 10 other additional investment and capital contribution and share purchase projects. Noteworthy investments from Sweden include industry giants like Autoliv and Tetra Pak, and the momentum doesn’t stop there. Companies in green industries are eagerly exploring opportunities to invest in Vietnam, further solidifying our dynamic and forward-looking partnership.

On the other side, Vietnamese companies like Nutifood and FPT are making significant strides in Sweden. Nutifood is joining forces with Swedish firms to elevate its product offering, while FPT is diving into Sweden’s vibrant tech ecosystem to forge partnerships and drive digital transformation initiatives. These bold investments highlight a powerful trend of Vietnamese enterprises expanding their global footprint and harnessing the potential of international markets.

There are still areas where we can improve. For instance, we need to work on reducing trade barriers and streamlining regulatory processes to make it easier for businesses to operate in both markets. Additionally, there is a need to enhance awareness and understanding of each other’s market conditions and business cultures. By addressing these challenges, we can create a more conducive environment for trade and investment, ensuring that our economic cooperation reaches its full potential.

As we look to the future, I am confident that our economic ties will continue to strengthen, bringing even greater prosperity to both Sweden and Vietnam.

It is known that within the framework of the series of events celebrating 55 years of Vietnam – Sweden, a memorandum of understanding has been signed between the Vietnam Trade Office in Sweden and Business Sweden. Could you please share the specific content of cooperation between the two sides in this memorandum?

As part of the series of events celebrating 55 years of diplomatic relations between Vietnam and Sweden, a memorandum of understanding will be signed between the Vietnam Trade Office in Sweden and Business Sweden, the Swedish Trade and Invest Council. This memorandum outlines several key areas of cooperation aimed at enhancing bilateral trade and investment. Specifically, it includes initiatives to promote trade, business exchanges, facilitate the sharing of market intelligence and best practices. Additionally, the agreement includes provisions for mutual assistance in trade promotional activities, such as business delegations and events like the Sourcing Fair, Smart Factory Initiative, and energy and infrastructure-related events. This MoU signifies a strengthened commitment to fostering economic growth and collaboration between the two nations.

To realize this memorandum in the coming time, what solutions will Business Sweden implement?

To realise the memorandum of understanding in the near future, Business Sweden will implement several strategic initiatives. However, the most crucial first step is to align with the Vietnam Trade Office to outline potential activities for 2025 and identify areas for mutual cooperation. This will encompass a variety of trade promotional events hosted by both parties, including the Ministry of Industry and Trade’s (MOIT) Sourcing Fair and Sweden’s initiatives in supply chain management, circular economy, and sustainable energy. Support in reaching out to relevant stakeholders will be crucial to achieving the objectives of these events. Building on the exchange of information and mutual support provided throughout the recent years, we will maintain this momentum and transform it into larger opportunities and activities that benefit both nations.

What advice do you have for Vietnamese enterprises to boost exports to the Swedish market in particular and the Nordic market in general in the coming time?

My advice for Vietnamese enterprises looking to boost exports to the Swedish market, and the Nordic market in general, is multifaceted.

Firstly, it is crucial to understand the market dynamics and consumer preferences in these regions. Conduct thorough market research to identify demand trends and tailor your products accordingly.

Secondly, focus on quality and sustainability, as Nordic consumers highly value environmentally friendly and ethically produced goods.

Thirdly, build strong relationships with local partners and distributors who can help navigate the market and regulatory landscape.

Finally, take advantage of trade promotion events and business forums to showcase your products and connect with potential buyers.

By embracing these strategies, Vietnamese enterprises can successfully penetrate and thrive in the Swedish and broader Nordic markets. To facilitate this journey, the Vietnam Trade Office stands as the most pertinent agency for Vietnamese businesses, leveraging their deep understanding of both the local Swedish market and Vietnamese business practices. Additionally, Business Sweden provides an Invest function specifically designed to support international companies in entering and flourishing within the Swedish market.