The Vietnam-Sweden Industry Discussion board, held in Stockholm in September 2024. Credit score: LinkedIn, FPT Instrument
Business between Sweden and Vietnam has surged by way of 11.8 in keeping with cent within the first 11 months of 2024, showcasing the rising power in their financial collaboration.
This milestone coincides with the birthday celebration of 55 years of diplomatic family members between the 2 countries.
Sweden-Vietnam industry and logistics
In keeping with a file by way of Vietnam.VN, Sweden stays Vietnam’s biggest buying and selling spouse in Northern Europe, whilst Vietnam is Sweden’s most sensible import spouse in Southeast Asia.
In 2023, their general bilateral industry reached $1.29 billion (€1.17 billion), rising regularly to $1.3 billion (€1.18 billion) in 2024. This enlargement is pushed by way of the EU-Vietnam Unfastened Business Settlement (EVFTA), which has diminished price lists and industry limitations, making Vietnamese items extra aggressive on the subject of worth and high quality.
Efforts to streamline logistics have ended in partnerships between key ports, together with Gothenburg Port and Tân Cảng Sài Gòn. In keeping with Bùi Văn Quý, Chairman of the Southeast Asian Seaports Affiliation, those agreements intention to scale back delivery prices and beef up potency.
Partnership between Ericsson and Mobifone
In 2024, a 5G Innovation Centre in Vietnam used to be established via a partnership between Ericsson and Mobifone. The centre targets to increase virtual transformation and high-tech analysis.
In keeping with a file by way of ScandAsia, Swedish customers are an increasing number of prioritising sustainable and environmentally pleasant merchandise, presenting new alternatives for Vietnamese exporters. Merchandise like natural seafood, textiles created from recycled fabrics, and sustainably produced furnishings have observed rising call for.
Vietnam-Sweden Industry Discussion board
The Vietnam-Sweden Industry Discussion board, held in Stockholm in September 2024, used to be a significant spotlight of the 12 months. With the theme “Virtual Transformation, Power Transition, and Innovation”, the development facilitated discussions on renewable power and inexperienced transformation.
As well as, Swedish companies similar to IKEA and H&M have higher manufacturing orders in Vietnam, aligning with a world development of diversifying provide chains clear of China.
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View all articles by way of Letara Draghia.