HCMC — Prime Minister Pham Minh Chinh on June 12 (local time) called for Swedish companies to expand investment in Vietnam, particularly in green transition, digital transformation, and innovation.

Speaking at a Vietnam-Sweden business forum in Stockholm, Chinh said both governments would facilitate stronger business cooperation and create favorable conditions for enterprises. He encouraged companies to form direct partnerships and expand economic links between Sweden, Vietnam, and the broader ASEAN and Northeast Asia regions. The forum was co-chaired by Chinh and Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. Participants included Vietnamese Deputy Prime Minister and Foreign Minister Bui Thanh Son and executives from major companies in both countries, reported the Vietnam News Agency. Sweden currently ranks 29th among 149 countries and territories investing in Vietnam, with 111 active projects totaling US$743.39 million. Trade between the two countries reached US$1.48 billion in 2024. Around 70 Swedish companies are operating in Vietnam, including Ericsson, ABB, IKEA, Electrolux, Volvo, and H&M. Vietnamese investment in Sweden remains limited, with only three projects worth nearly US$1 million. There is significant potential for deeper cooperation in science, technology, innovation, telecommunications, renewable energy, circular economy, education, infrastructure, and defense industries, said Chinh. The forum served as a platform for businesses to exchange information, share experience, and express investment needs in areas aimed at accelerating Vietnam’s industrial transition through digitalization and innovation. Minister Dousa said the Vietnam-Sweden partnership has produced tangible results and should continue expanding across all sectors in light of current global shifts. He praised Vietnam’s recent development and said its national strategy aligns with Sweden’s focus on science, technology, digitalization, and sustainable growth. Officials and business leaders at the forum discussed cooperation opportunities in technology, telecommunications, renewable energy, education, and infrastructure. Both sides emphasized the need to accelerate digitalization and support a circular and low-carbon economy.

Earlier in the day, Chinh held a breakfast meeting with executives from leading Swedish corporations to discuss investment opportunities. Marcus Wallenberg, chairman of Stockholms Enskilda Bank and the Wallenberg Group, attended the meeting alongside representatives of AstraZeneca, Ericsson, and other affiliated firms. Company leaders explored possible investments in Vietnam across sectors such as energy, finance, telecommunications, and high technology. Chinh said Vietnam prioritizes partnerships with companies that possess advanced technological capabilities. He welcomed Ericsson and other Swedish firms to expand their operations in Vietnam, particularly in building the country’s digital infrastructure.