Forward-looking partnerships between Vietnam and Sweden

How would you assess the state of cooperation between Sweden and Vietnam at this time?

Sweden and Vietnam have long enjoyed a close and friendly relationship. In fact, Sweden was the first Western nation to establish diplomatic ties with Vietnam, back in 1969. More recently, during Prime Minister Pham Minh Chinh’s official visit to Sweden in June 2025, our two countries agreed to establish a Sectoral Strategic Partnership on Science, Technology, Innovation, and Digital Transformation. This important milestone reaffirmed the strong and enduring diplomatic bond between Vietnam and Sweden, while opening a new and promising chapter in bilateral cooperation.

During this visit, I have been deeply impressed by Vietnam’s remarkable pace of development and its ambitious goal of becoming a high-income country by 2045. To achieve this vision, the country will need to invest in high-quality, climate-smart infrastructure. Sweden stands ready to be a trusted partner on this journey, supporting Vietnam’s green and digital transformation towards a sustainable and innovative future.

Moreover, Vietnam has a dynamic and talented young workforce, which is truly a valuable asset for the country’s future development. We are delighted to see that, in 2025, more than 300 Vietnamese students were enrolled in Swedish universities. Among them are eleven recipients of the Swedish Institute Global Professional Scholarship (SISGP) and eight women who have been awarded pioneering scholarships in STEM fields.

After meeting with leaders of the Vietnamese Government and representatives from the business community, I was very impressed by their open-mindedness and willingness to cooperate with us. They are eager to explore new opportunities for collaboration and to discuss how we can work together effectively.

We are also pleased to have brought along several leading Swedish companies, each at the forefront of its industry, so they can engage with Vietnamese counterparts, exchange knowledge and experience, and together foster stronger, more sustainable growth in both countries.

What makes Vietnam an attractive destination for Swedish investors? What potential do you see for Swedish businesses in Vietnam, particularly in green and innovative sectors?

Vietnam is a dynamic and forward-looking partner of Sweden in Southeast Asia. The mutual trust and openness between our two nations have been key drivers of our successful development cooperation. A notable example is the impressive trade volume between Hai Phong and Sweden, which reached over $160 million in 2024 and more than $120 million in just the first nine months of 2025 - a very encouraging result.

Swedish companies view Vietnam not only as a promising and fast-growing market but also as a long-term strategic partner in innovation and sustainable value creation. The country’s skilled workforce and rapidly-expanding industrial base make it an attractive destination for green and high-tech investment. We anticipate that exports of green equipment to Vietnam will increase by around 20 per cent in 2026, reaching a total value of SEK2 billion ($210 million).

Given Vietnam’s vast potential for growth in the green sector, we have established the Sweden-Vietnam Green Business Working Group, with SEK500 million ($53 million) in financial support dedicated to small and medium-sized enterprises. In Hai Phong, Swedish companies such as ABB, Atlas Copco, and SKF are now part of VinFast’s supply chain, providing industrial robots and advanced components.

Additionally, we have signed an MoU with the Vietnam Chamber of Commerce and Industry (VCCI) to train 500 workers in circular economy practices. Today, more than 70 Swedish companies are actively operating in Vietnam - a clear testament to the country’s growing appeal as a destination for sustainable and innovative investment.

How will Swedish expertise and innovation support Vietnam in critical infrastructure projects?

I believe the infrastructure projects Vietnam is planning will play a pivotal role in driving future growth. As we often say, investing in infrastructure lays the foundation for greater investment and long-term economic expansion.

Sweden currently ranks second in the World Intellectual Property Organization (WIPO)’s Global Innovation Index 2025, reflecting our extensive experience in developing safe, efficient, and people-centered infrastructure networks. With that expertise, we are ready to support Vietnam through the Triple Helix model - a collaborative approach that brings together government, academia, and the private sector to transform innovation into practical, real-world solutions.

Sweden will also continue to support Vietnam in its transition towards a low-carbon economy through a combination of investment, technology transfer, and policy dialogue. Our cooperation will focus in particular on renewable energy, modernization of the power grid, and the development of clean and sustainable technologies.

For major national projects such as the North-South high-speed railway and green seaports, Swedish companies like ABB, Atlas Copco, and Scania are well-positioned to provide low-carbon solutions and intelligent logistics systems. In Hai Phong, we are also promoting collaboration with the Port of Gothenburg to develop a zero-emissions port, which, according to forecasts from Vattenfall, is expected to create around 1,000 local jobs by 2028.

In addition, many Swedish enterprises, including ABB, Atlas Copco, Ericsson, Volvo, and SKF, have already made significant contributions to Vietnam’s industrial modernization and port infrastructure development.

By building upon these partnerships, we can help Vietnam establish transportation systems that are low in carbon emissions, digitally interconnected, and globally competitive, thereby advancing the country’s green transition in a sustainable and inclusive manner.

What key policy frameworks or experience were important to Sweden’s success, and how might these approaches be adapted to support Vietnam’s goals?

We have demonstrated that economic growth and emission reductions can go hand-in-hand. Sweden’s GDP has doubled since 1990, while greenhouse gas emissions have been cut by half. This achievement stems from consistent, forward-thinking policies such as carbon pricing, green public procurement, and long-term climate targets, including our goal of becoming carbon neutral by 2045.

At the heart of this success is the Triple Helix model, fostering collaboration between government, academia, and industry. Under this framework, Sweden has invested SEK6.5 billion ($685 million) to support world-class research and digital infrastructure development. We also place great emphasis on attracting global talent, welcoming more than 40,000 international students in the 2022-2023 academic year, who now make up around 10 per cent of our total student population.

To adapt our experience to Vietnam’s context, we are ready to share expertise through the Joint Declaration on Climate Cooperation, which includes technical support for Vietnam’s National Energy Strategy to 2030. Most recently, at the Erasmus+ event in Hanoi on November 3, we presented our innovation ecosystem model, a framework that Vietnam can apply to train 1,000 businesses in carbon management and reduce methane emissions from rice-based agriculture.

Sweden stands fully ready to share its experience and co-develop practical solutions to support Vietnam’s journey to green, sustainable, and inclusive growth.