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HEADLINES
Swedish group wants to build a $1 billion high-tech recycling factory in Viet Nam
The Group is committed to applying modern technology to the polyester fiber recycling production project, meeting the world’s leading standards on environmental protection and complying with Vietnam’s environmental protection regulations.
In addition, the Group proposed to be supported in terms of mechanisms and policies related to the implementation of the textile waste recycling project, guidance on procedures for importing recycled materials and assessing environmental impacts, and support in connecting with specialized agencies to ensure the project is implemented smoothly.
According to the Group, it will always prioritize the collection of raw materials in Vietnam. However, there is not a clear mechanism for collecting used clothing in Vietnam. This will cause many difficulties in purchasing, classifying and processing raw materials to meet the production standards of the project.
“Therefore, we propose that the Ministry of Industry and Trade (MOIT) support the development of a mechanism and specific instructions on the collection, classification, and treatment of used clothing domestically to ensure a source of recycled materials for production,” said Mr. Tim King – Senior Operations Director, Syre Group.
Speaking at the working session, Minister Dien affirmed that the European Union (EU), including Sweden, is an important economic and trade partner of Vietnam.
Over the past years, since the two sides signed the Free Trade Agreement and the Investment Protection Agreement, the wave of investment as well as economic and trade relations has increased rapidly every year.
It can be said that the EU has everything Vietnam needs and Vietnam meets everything the EU needs, including Sweden, so the two sides need to cooperate more closely to promote economic and trade relations between the two countries to a new level, including specific proposals related to the High-tech Fabric Production Complex project.
According to the Minister, Syre Group’s proposals meet the traditional growth drivers and new growth drivers such as investment and green transformation, digital transformation, and circular economy, so the MOIT fully supports this project.
However, the Minister noted that the most important issue when importing recycled products is environmental issues.
Therefore, Vietnam is very interested in the technologies that Syre Group applies in the production process to ensure cleanliness and safety for the environment, and to meet the requirements for wastewater and waste treatment of the project.
In addition, the minister asked Syre Group to cooperate with domestic enterprises to implement the project’s goals, including the formation of a closed chain from production, processing to consumption, which can be localized, so that the project can demonstrate its socio-economic effectiveness for Vietnam.
“If Syre Group proves the superiority of the project in terms of production technology, the ability to contribute to the socio-economic development of Vietnam as well as the ability to create a closed domestic production chain, the MOIT is ready to advise competent authorities to have specific mechanisms and policies for the project,” Minister Dien emphasized.
The Import-Export Department under the MOIT basically supports the investment policy of Syre Group to strengthen the development of supporting industries for the textile and garment sector within the framework and regulations of the law, according to the minister.
Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People’s Committee, emphasized that Syre Group’s project is of great significance in making Vietnam a global circular textile and garment industry center, creating many jobs and contributing to the green economy.
Therefore, Binh Dinh Provincial People’s Committee proposed the MOIT to support the project, providing favorable regulatory conditions for importing scrap fabric, ensuring a stable source of raw materials for the project.
OTHER NEWS
Sweden exports to Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 138,657,325 | 123,061,091 | -11.2 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 1,882,827 | 2,244,435 | 19.2 |
| Plastic products | 1,879,802 | 1,193,822 | -36.5 |
| Rubber | 66,730 | 45,158 | -32.3 |
| Bags, purses, suitcases, hats, umbrellas | 2,754,241 | 2,756,513 | 0.1 |
| Products of rattan, bamboo, sedge and carpet | 1,190,469 | 970,520 | -18.5 |
| Wood and articles of wood | 2,477,448 | 3,644,909 | 47.1 |
| Textiles and garments | 8,628,322 | 8,533,157 | -1.1 |
| Footwears, parts of such articles | 3,895,910 | 3,050,228 | -21.7 |
| Materials for textiles and garments, and footwares | 265,744 | 361,301 | 36.0 |
| Ceramic products | 901,893 | 230,630 | -74.4 |
| Articles of iron or steel | 545,408 | 6,897,662 | 1,164.7 |
| Other metals and products | 77,280 | 0 | -100.0 |
| Computers, electrical products, part thereof | 5,545,077 | 12,376,131 | 123.2 |
| Telephone sets, parts thereof | 65,917,691 | 50,253,384 | -23.8 |
| Machinery, mechanical appliances, equipment, parts thereof | 11,318,931 | 15,094,186 | 33.4 |
| Toys, sports equipment and parts | 1,198,427 | 1,416,222 | 18.2 |
Sweden imports from Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 27,102,241 | 25,901,591 | -4.4 |
| Other petroleum products | 204,952 | 347,555 | 69.6 |
| Chemical products | 725,301 | 752,578 | 3.8 |
| Pharmaceutical products | 3,197,075 | 8,104,233 | 153.5 |
| Plastic materials | 38,624 | 321,116 | 731.4 |
| Plastic products | 491,682 | 598,469 | 21.7 |
| Wood and articles of wood | 408,089 | 328,060 | -19.6 |
| Paper products | 2,669,815 | 3,007,624 | 12.7 |
| Iron or steel | 628,686 | 1,007,277 | 60.2 |
| Articles of iron or steel | 900,681 | 476,519 | -47.1 |
| Computers, electrical products, part thereof | 2,144,373 | 251,673 | -88.3 |
| Telephone sets, parts thereof | - | - | - |
| Other machinery, equipment, tools and spare parts | 13,227,902 | 7,849,882 | -40.7 |
Denmark exports to Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 40,184,672 | 40,458,991 | 0.7 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 3,477,981 | 2,756,385 | -20.7 |
| Coffee | 643,506 | 999,202 | 55.3 |
| Plastic products | 2,149,643 | 2,369,750 | 10.2 |
| Bags, purses, suitcases, hats, umbrellas | 2,710,086 | 474,284 | -82.5 |
| Products of rattan, bamboo, sedge and carpet | 765,286 | 1,033,759 | 35.1 |
| Wood and articles of wood | 3,600,734 | 3,907,386 | 8.5 |
| Textiles and garments | 4,685,530 | 7,750,021 | 65.4 |
| Footwears, parts of such articles | 3,297,823 | 2,026,367 | -38.6 |
| Ceramic products | 1,262,843 | 983,007 | -22.2 |
| Articles of iron or steel | 2,338,042 | 3,085,290 | 32.0 |
| Other machinery, equipment, tools and spare parts | 1,851,107 | 3,021,551 | 63.2 |
| Electric wires and cables | 2,663,351 | 1,232,286 | -53.7 |
| Transport vehicles and spare parts | 131,895 | 836,881 | 534.5 |
| Furniture products from materials other than wood | 3,642,374 | 3,222,219 | -11.5 |
| Toys, sports equipment and parts | 224,719 | 360,075 | 60.2 |
Denmark imports from Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 18,515,146 | 14,373,344 | -22.4 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 1,770,688 | 1,614,126 | -8.8 |
| Milk and dairy products | 213,417 | 229,433 | 7.5 |
| Chemical products | 1,751,371 | 1,251,243 | -28.6 |
| Pharmaceutical products | 2,494,849 | 958,207 | -61.6 |
| Plastic products | 763,544 | 1,218,808 | 59.6 |
| Materials for textiles and garments, and footwares | - | - | - |
| Iron or steel | - | - | - |
| Articles of iron or steel | 1,218,640 | 337,080 | -72.3 |
| Computers, electrical products, part thereof | 316,874 | 140,900 | -55.5 |
| Other machinery, equipment. tools and spare parts | 5,219,214 | 3,195,156 | -38.8 |
| Electric wires and cables | 213,530 | 130,663 | -38.8 |
Norway exports to Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 11,178,334 | 13,900,825 | 24.4 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 545,488 | 850,088 | 55.8 |
| Fruits and vegetables | 336,170 | 314,541 | -6.4 |
| Cashew nuts | 625,012 | 369,232 | -40.9 |
| Plastic products | 293,107 | 400,583 | 36.7 |
| Bags, purses, suitcases, hats, umbrellas | 366,470 | 1,143,307 | 212.0 |
| Wood and articles of wood | 392,263 | 261,064 | -33.4 |
| Textiles and garments | 630,118 | 1,106,143 | 75.5 |
| Footwears, parts of such articles | 2,352,765 | 2,578,028 | 9.6 |
| Articles of iron or steel | 266,220 | 306,233 | 15.0 |
| Cameras, camcorders and components | 237,678 | 711,710 | 199.4 |
| Other machinery, equipment, tools and spare parts | 1,681,267 | 1,743,321 | 3.7 |
| Transport vehicles and spare parts | 146,904 | 564,198 | 284.1 |
| Furniture products from materials other than wood | 802,571 | 537,130 | -33.1 |
Norway imports from Vietnam
| Products | 1M2024 | 1M2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 31,915,067 | 47,240,937 | 48.0 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 22,283,265 | 25,978,452 | 16.6 |
| Chemical products | 354,249 | 632,819 | 78.6 |
| Fertilizers | 189,742 | 6,004,062 | 3,064.3 |
| Articles of iron or steel | 789,249 | 280,143 | -64.5 |
| Other machinery, equipment. tools and spare parts | 5,345,381 | 10,079,892 | 88.6 |
OTHER NEWS
Autoliv Expands Investment in Vietnam, Reflecting the Nordic Investment Shift
Introduction to Autoliv Sweden Autoliv is the world’s leading manufacturer of automotive safety systems, headquartered in Stockholm, Sweden. The company specializes in airbags, seat belts, pedestrian protection systems, and other advanced safety solutions for major global automobile manufacturers. With over 70,000 employees in 27 countries, Autoliv is committed to developing safety technologies that reduce traffic accidents and save millions of lives each year. In 2023, Autoliv generated approximately $10.5 billion in revenue, maintaining its position as the leading supplier in the automotive safety sector.
Autoliv’s Strategic Expansion in Vietnam Autoliv’s airbag manufacturing plant, located in Song Khoai Industrial Park (Quang Ninh), is set to commence operations in November 2025, following more than two years of construction. This marks a significant milestone not only for Autoliv but also for the increasing investment trend of Nordic businesses in Vietnam.
The Autoliv Vietnam plant, with a total investment of $154 million, is being developed through Autoliv Vietnam Co., Ltd. The facility will specialize in producing automotive and other motor vehicle safety products, with an expected production capacity of around 10 million units per year, primarily for export.
Currently, the company is accelerating construction, equipment installation, and workforce training to prepare for production. The construction is scheduled for completion by February 2025.
On February 3, 2025, the Swedish Ambassador to Vietnam, Mr. Johan Ndisi, visited the Autoliv Vietnam plant and highly valued the company’s first investment in the country. He emphasized that this project is expected to generate approximately 2,000 jobs in Quang Ninh, reinforcing Vietnam’s role in the global supply chain.
Since January 2025, Autoliv Vietnam has been actively recruiting various positions, including beam cutting and joining workers, warehouse staff, warehouse supervisors, and sample room personnel, with immediate employment opportunities following the Lunar New Year holiday.
The Autoliv plant in Vietnam was initiated on July 10, 2023, spanning a 9-hectare area in Amata City Ha Long Industrial Park. INVESTCORP serves as the general contractor for the design and construction of the project.
The Nordic Investment Shift Towards Vietnam Vietnam is emerging as an attractive destination for Nordic enterprises due to its strategic location, abundant labor force, and competitive costs. In recent years, an increasing number of companies from Sweden, Denmark, Finland, and Norway have chosen Vietnam as a key manufacturing hub.
Several key factors driving this investment shift include:
- EVFTA Agreement: The EU-Vietnam Free Trade Agreement (EVFTA) has significantly reduced tariffs, facilitating Nordic businesses in exporting from Vietnam to Europe.
- China +1 Strategy: Many Nordic companies are seeking additional manufacturing locations outside China to diversify their supply chains.
- Investment-friendly Policies: The Vietnamese government is actively improving the investment environment by offering tax incentives, administrative support, and developing industrial infrastructure.
- Sustainability Focus: Nordic enterprises are known for their commitment to sustainability and corporate responsibility. Vietnam’s commitment to emission reduction and renewable energy transition aligns well with the investment criteria of Nordic businesses.
Several major Nordic corporations, including LEGO, Orsted, Vestas, Tetra Pak, and Jotun, have been investing significantly in Vietnam.
Autoliv’s investment in Vietnam exemplifies the growing presence of Nordic businesses in the country. With strong support from both governments and an improving business environment, Vietnam can expect a surge in investments, particularly in manufacturing, high-tech industries, and renewable energy. This trend signals a positive outlook for Nordic capital inflows into Vietnam, further solidifying its position on the global manufacturing map.
(Vietnam Trade Office in Sweden, covering the Nordic countries)
VN to speed up development of its semiconductor industry
Nordic countries accelerate green transition
According to the Vietnam Trade Office in Sweden, which also covers the Nordic market, in the context of green transition and sustainable development, Nordic nations such as Sweden, Norway, and Denmark continue to lead with pioneering policies on renewable energy, circular economy, and technological innovation. These policies not only shape the future of the Nordic economy but also pose challenges and offer opportunities for Vietnamese export businesses.
In particular, green transition and carbon neutrality are expected to remain key priorities in the region. These countries aim to increase the share of renewable energy and minimize greenhouse gas emissions.
In Sweden and Denmark, businesses must meet very strict environmental standards, especially for products with a high carbon footprint. For Vietnamese exporters, this means improving production processes, reducing fossil fuel use, and developing sustainable products. Items such as wooden furniture, textiles, and agricultural products will have a significant advantage if certified as using renewable energy or environmentally friendly materials.
For specific sectors, Nguyen Thi Hoang Thuy, Head of the Vietnam Trade Office in Sweden, noted that the rapidly growing electric vehicle market in the Nordic region presents opportunities for Vietnamese businesses to engage in the supply chain for electric vehicle components and parts. Domestic manufacturers can take advantage of this trend by investing in production technology and exporting products for the green transportation sector.
The circular economy will increasingly become a crucial element in the value chain in the Nordic region. Policies promoting recycling and reuse, as well as replacing plastics with bio-based materials, are setting new standards for imported products. For Vietnamese businesses, producing eco-friendly packaging or using alternative materials such as bioplastics from wood pulp, cellulose, or recycled products will help increase competitiveness in this demanding market.
The agro, seafood, and processed food sectors need to focus more on green, reusable packaging. Additionally, ensuring sustainable production processes, complying with waste management standards, and reducing emissions will be essential to maintaining and expanding market share in the Nordic region.
Moreover, the Nordic countries play a key role in promoting green trade and the Carbon Border Adjustment Mechanism (CBAM). This mechanism will impose taxes on imported products with high CO2 emissions, putting pressure on Vietnamese exporters, especially in sectors such as steel, cement, chemicals, and aluminum. To adapt, Vietnamese businesses need to shift to green production models, reduce emissions in the supply chain, and demonstrate their ability to meet the stringent environmental standards set by the EU.
What are opportunities for Vietnamese businesses?
Nguyen Thi Hoang Thuy stated that while green transition trends may pose challenges, they also create opportunities for environmentally friendly products and services from Vietnam. Businesses capable of providing eco-friendly products, such as organic agricultural goods, handicrafts made from natural materials, or recycled items, will find ample opportunities to enter this lucrative market.
“The Nordic market, with its focus on green, sustainable consumption, and high-tech trends, offers many opportunities for Vietnamese businesses,” said Hoang Thuy. She also mentioned that the demand for organic agricultural products and processed food continues to grow significantly, with products such as coffee, tea, and cashews—already known for their quality in the EU market—having the potential to expand their market share even further.
Particularly, processed seafood such as shrimp, catfish, and frozen seafood products are popular choices due to their compliance with food safety standards and traceability. Developing products that are certified organic or environmentally friendly will help Vietnamese businesses gain a competitive edge.
In addition to food, garments, textiles, and footwear are key products for Vietnam in Sweden. Products made from recycled materials, organic materials, or those with sustainable production processes are highly valued by Swedish consumers. Investing in production technology improvements, enhancing product quality, and obtaining international certifications will open up a wealth of opportunities for Vietnamese businesses to increase their market share.
Furthermore, Sweden has a high demand for handicrafts and traditional, unique goods. Products such as furniture made from sustainable wood, rattan, and hand-crafted home decorations are popular for their environmental friendliness and rich cultural identity. This represents a significant opportunity for Vietnamese businesses to develop niche markets in the Scandinavian nation.
Therefore, businesses need to apply international standards such as ISO 22000, HACCP, and IFS to ensure food safety and meet the requirements of Sweden and the EU. In addition, promoting Vietnamese-branded products through trade promotion programs, international exhibitions, and media campaigns will be crucial.
They also need to transition their production processes to sustainability by using organic materials and recycled packaging to align with the green consumption trends in Sweden. Collaborating directly with large retail chains and exploring opportunities with major retailers like ICA, Coop, and Axfood will help bring Vietnamese products to store shelves.
Nordic green transition creates new opportunities for Vietnamese businesses
Việt Nam has emerged as a remarkable example of how trade and investment can fuel inclusive growth and development, according to Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).
In an interview with a Switzerland-based Vietnam News Agency (VNA) correspondent ahead of the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, to which Prime Minister Phạm Minh Chính is leading a high-ranking Vietnamese delegation, Grynspan underscored that UNCTAD strongly advocates for trade and investment as key drivers of inclusive development, with Việt Nam exemplifying the potential.
The UNCTAD leader expressed her impression of Việt Nam’s socio-economic progress, praising its efforts in improving the welfare of its people and achieving sustainable development.
She highlighted Việt Nam’s accomplishments in three critical areas: education, logistics and seaports, and innovation, which Grynspan noted, have been pillars in the country’s growth.
Việt Nam’s commitment to multilateral cooperation is also evident in its active participation in global forums such as the WEF, Grynspan added. This year marks PM Chính’s second consecutive attendance at the Davos meeting, a move she considers highly significant.
The meeting provides an excellent platform for Việt Nam to showcase its achievements and share its development model with the world, Grynspan remarked. — VNS