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HEADLINES
Nearly 30 Swedish Companies Explore Investment Opportunities in Viet Nam
According to the Vietnam Trade Office in Sweden, a business delegation of nearly 30 Swedish companies has recently visited Vietnam to explore investment and business cooperation opportunities.
This visit took place less than a week after a delegation from the Swedish Parliament’s Committee on Foreign Affairs, led by Chairman Aaron Emilsson, completed their official trip to Vietnam—highlighting Sweden’s growing interest in the Vietnamese market.
Rising Swedish Investment Interest in Vietnam
The delegation’s visit underscores a broader trend of Swedish companies shifting investment focus towards Vietnam. A prominent example is Syre, a leading company in the textile and recycling technology sector, which has announced plans for a large-scale investment project in Vietnam.
In February, Vietnam’s Minister of Industry and Trade, Mr. Nguyen Hong Dien, held a working session with the People’s Committee of Binh Dinh Province regarding Syre’s proposed high-tech textile manufacturing complex. During the meeting, Mr. Tim King, Senior Operations Director at Syre, expressed the company’s commitment to investing in a polyester recycling plant in Binh Dinh. The project will feature advanced recycling technology, complying with the world’s highest environmental standards as well as Vietnam’s environmental regulations.
Local authorities believe Syre’s investment will play a key role in positioning Vietnam as a global hub for circular textile manufacturing. The project is also expected to create jobs and contribute significantly to the country’s green economy. To support the initiative, the Binh Dinh People’s Committee has requested guidance from the Ministry of Industry and Trade regarding import procedures for textile waste under current regulations to ensure a stable supply of raw materials.
Broader Nordic Interest and Supply Chain Expansion
Apart from Syre, other major Swedish brands such as H&M have also shown interest in expanding their production and supply chains in Vietnam. This move is driven by Vietnam’s advantages in skilled labor, infrastructure, and sustainable growth potential, aligning with global strategies to diversify supply chains amidst market uncertainties.
Vietnam – A Strategic Destination for Nordic Businesses
Mrs. Nguyen Thi Hoang Thuy, Head of the Vietnam Trade Office in Sweden and in charge of the broader Nordic region, emphasized that Vietnam is increasingly becoming a strategic destination for Nordic businesses. Its geographic location, abundant labor force, and competitive costs make it attractive for investment and expansion.
In recent years, an increasing number of companies from Sweden, Denmark, Finland, and Norway have chosen Vietnam as a base for expanding their operations in Asia.
A key driver of this trend is the EU-Vietnam Free Trade Agreement (EVFTA), which significantly reduces tariffs and facilitates smoother trade flows. EVFTA enables Nordic companies to use Vietnam as a production base for exporting to European markets more efficiently.
OTHER NEWS
Sweden exports to Vietnam
| Products | 02M/2024 | 02M/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 199,142,150 | 206,568,506 | 3.7 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 2,781,229 | 4,848,971 | 74.3 |
| Plastic products | 2,728,659 | 3,045,544 | 11.6 |
| Rubber | 66,730 | 130,637 | 95.8 |
| Bags, purses, suitcases, hats, umbrellas | 4,150,980 | 4,201,852 | 1.2 |
| Products of rattan, bamboo, sedge and carpet | 1,527,406 | 1,565,890 | 2.5 |
| Wood and articles of wood | 4,138,367 | 5,715,553 | 38.1 |
| Textiles and garments | 12,206,199 | 14,447,200 | 18.4 |
| Footwears, parts of such articles | 4,904,927 | 4,511,628 | -8.0 |
| Materials for textiles and garments, and footwares | 468,719 | 488,372 | 4.2 |
| Ceramic products | 1,309,400 | 395,619 | -69.8 |
| Articles of iron or steel | 1,235,461 | 19,577,289 | 1,484.6 |
| Other metals and products | 78,996 | 235,986 | 198.7 |
| Computers, electrical products, part thereof | 14,469,608 | 19,797,321 | 36.8 |
| Telephone sets, parts thereof | 88,366,887 | 76,458,076 | -13.5 |
| Machinery, mechanical appliances, equipment, parts thereof | 18,293,501 | 24,962,525 | 36.5 |
| Toys, sports equipment and parts | 2,126,406 | 2,155,229 | 1.4 |
Sweden imports from Vietnam
| Products | 02M/2024 | 02M/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 55,784,899 | 69,895,775 | 25.3 |
| Other petroleum products | 454,461 | 655,935 | 44.3 |
| Chemical products | 1,699,654 | 1,705,159 | 0.3 |
| Pharmaceutical products | 14,699,019 | 23,944,849 | 62.9 |
| Plastic materials | 247,590 | 464,357 | 87.6 |
| Plastic products | 1,115,003 | 1,039,742 | -6.7 |
| Wood and articles of wood | 663,293 | 703,115 | 6.0 |
| Paper products | 6,010,055 | 8,525,572 | 41.9 |
| Iron or steel | 1,495,243 | 2,485,989 | 66.3 |
| Articles of iron or steel | 1,551,554 | 1,990,712 | 28.3 |
| Computers, electrical products, part thereof | 2,218,311 | 850,935 | -61.6 |
| Telephone sets, parts thereof | - | - | - |
| Other machinery, equipment, tools and spare parts | 18,960,297 | 14,981,221 | -21.0 |
Denmark exports to Vietnam
| Products | 02T/2024 | 02T/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 66,856,915 | 69,165,135 | 3.5 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 5,842,038 | 5,234,943 | -10.4 |
| Coffee | 899,739 | 1,961,635 | 118.0 |
| Plastic products | 3,569,504 | 4,452,739 | 24.7 |
| Bags, purses, suitcases, hats, umbrellas | 3,109,828 | 919,550 | -70.4 |
| Products of rattan, bamboo, sedge and carpet | 1,269,941 | 1,360,183 | 7.1 |
| Wood and articles of wood | 5,268,556 | 5,913,137 | 12.2 |
| Textiles and garments | 6,597,729 | 10,612,651 | 60.9 |
| Footwears, parts of such articles | 4,197,595 | 4,252,959 | 1.3 |
| Ceramic products | 1,779,300 | 1,588,823 | -10.7 |
| Articles of iron or steel | 4,919,838 | 4,723,918 | -4.0 |
| Other machinery, equipment, tools and spare parts | 3,265,607 | 4,935,547 | 51.1 |
| Electric wires and cables | 7,042,113 | 5,062,888 | -28.1 |
| Transport vehicles and spare parts | 435,277 | 1,576,229 | 262.1 |
| Furniture products from materials other than wood | 5,672,579 | 4,702,856 | -17.1 |
| Toys, sports equipment and parts | 238,987 | 638,206 | 167.0 |
Denmark imports from Vietnam
| Products | 02T/2024 | 02T/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 31,504,319 | 34,770,428 | 10.4 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 1,941,801 | 3,900,828 | 100.9 |
| Milk and dairy products | 322,404 | 803,500 | 149.2 |
| Chemical products | 3,363,191 | 2,537,719 | -24.5 |
| Pharmaceutical products | 2,705,184 | 5,032,621 | 86.0 |
| Plastic products | 1,498,798 | 2,172,508 | 45.0 |
| Materials for textiles and garments, and footwares | - | - | - |
| Iron or steel | - | - | - |
| Articles of iron or steel | 1,895,181 | 1,505,725 | -20.5 |
| Computers, electrical products, part thereof | 636,437 | 463,295 | -27.2 |
| Other machinery, equipment. tools and spare parts | 8,942,443 | 6,919,337 | -22.6 |
| Electric wires and cables | 396,230 | 277,978 | -29.8 |
Norway exports to Vietnam
| Products | 02T/2024 | 02T/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 214,622,494 | 136,362,267 | -36.5 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 6,086,886 | 9,469,013 | 55.6 |
| Fruits and vegetables | 2,585,152 | 3,386,075 | 31.0 |
| Cashew nuts | 8,141,360 | 8,161,405 | 0.2 |
| Plastic products | 3,196,919 | 2,851,506 | -10.8 |
| Bags, purses, suitcases, hats, umbrellas | 8,367,700 | 7,607,528 | -9.1 |
| Wood and articles of wood | 4,102,319 | 2,852,790 | -30.5 |
| Textiles and garments | 15,291,120 | 10,891,128 | -28.8 |
| Footwears, parts of such articles | 13,901,484 | 20,317,258 | 46.2 |
| Articles of iron or steel | 2,693,085 | 1,370,943 | -49.1 |
| Cameras, camcorders and components | 5,600,582 | 5,475,822 | -2.2 |
| Other machinery, equipment, tools and spare parts | 7,516,749 | 14,182,660 | 88.7 |
| Transport vehicles and spare parts | 108,006,993 | 8,666,926 | -92.0 |
| Furniture products from materials other than wood | 1,506,956 | 3,245,765 | 115.4 |
Norway imports from Vietnam
| Products | 02T/2024 | 02T/2025 | Change (%) |
|---|---|---|---|
| All products (USD) | 66,660,416 | 95,901,997 | 43.9 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 45,214,022 | 51,672,342 | 14.3 |
| Chemical products | 711,593 | 953,529 | 34.0 |
| Fertilizers | 3,063,572 | 9,712,801 | 217.0 |
| Articles of iron or steel | 1,021,184 | 340,412 | -66.7 |
| Other machinery, equipment. tools and spare parts | 10,001,013 | 24,662,824 | 146.6 |
OTHER NEWS
Moving closer to realising the potential of offshore wind in Hai Phong
With its strategic location by the East Sea, Hai Phong has immense potential to emerge as a leading logistic and service hub for offshore wind, catering to both domestic and international markets while contributing to Vietnam’s green transition and sustainable development.
During the last two days, the Hai Phong City People’s Committee, the Danish Energy Agency and the Danish Embassy jointly hosted a Offshore Wind Training Seminar with participation of key stakeholders from the wind industry. The seminar provided in-depth insights into offshore wind technology, planning, and development, leveraging extensive Danish experience through case studies and technical recommendations. Discussions also covered regulatory frameworks, infrastructure needs, and policies to drive the growth of offshore wind in the region.
This seminar is part of the Vietnamese-Danish Energy Partnership aimed at accelerating the energy green transition in Vietnam.
How ABB robots contributing to the digital and green transition in Viet Nam?
Impressive to know that more than 10,000 ABB robots have been installed at both FDI and local factories in Vietnam. For the automotive industry, you can see them at factories from Vinfast, Thaco Truong Hai Auto, Hyundai Thanh Cong… or at factories of key players in the electronics industry incld. Samsung, LG, Jabil, Foxconn… or at top brands in the consumers and services like Vinamilk, TH Truemilk, Vinasoy, P&G, Unilever, Cargill, Carlsberg.. and general industry like Dai Dung, Hoa Phat, GE…
Ambassador Johan Ndisi and the Swedish largest ever SME delegation to Vietnam had an interesting visit at ABB Robotics and Automation Solution Center located at Saigon Hitech Park.
Sustainable Progress in Vietnam
Did you know that H&M been sourcing in Vietnam for over two decades, collaborating with 103 factories and employing more than 86,000 workers? Today, the Embassy visited one of H&M’s local suppliers—Banjie Factory—located in Hung Yen, just outside of Hanoi, where seamless garments are skillfully knitted, dyed, and sewn.
At this factory, H&M is leading the charge in electrifying the textile industry by investing in a state-of-the-art heating pump system. This initiative is set to replace the current wood-based heating method with an eco-friendly alternative, paving the way for carbon neutrality by the end of this year.
This bold move toward sustainability is the first of its kind, showcasing innovation and commitment to a greener future. Impressive work, H&M—raising the bar for global environmental standards!