At the Vietnam – Sweden business forum held in Stockholm on June 12 (local time), as part of his 3- day official visit to Sweden, Prime Minister Pham Minh Chinh called for a new wave of Swedish investment in Vietnam in the near future on the basis of strong core values and sound relationship between the two countries, according to a report from the Government News.

The PM said the two-way trade reached $1.48 billion in 2024 while Sweden's investment in Vietnam stood at $743.39 million.

Currently, more than 70 Swedish enterprises, including major business giants like Ericsson, ABB, IKEA, Electrolux, Volvo, H&M, are investing in Vietnam, he added.

The Vietnamese Prime Minister pointed out that there remains vast potential for the two countries to advance bilateral cooperation in science and technology, innovation, telecommunication, green economy, circular economy, education and training, infrastructure development, renewable energy, military industry.

He expressed his wish that the Governments of the two countries will play a central role in creating favorable conditions for their business circles to cooperate for mutual development.

For the Vietnamese side, the Government is now focusing on improving institutions, advancing infrastructure development and human resource training in favor of foreign investors, the PM said.

Vietnam is restructuring the political system by reducing the number of ministries and central agencies and localities to make it more efficient; advancing science and technology development, innovation, digital transformation, developing private economy and promoting international integration, he added.

Vietnam pledges to protect the legitimate rights and interests of enterprises and ensure political stability, social order and safety for investors to do long-term business in Vietnam, the PM said.

Swedish Minister of International Development and Foreign Trade Benjamin Dousa noted that the relations between Vietnam and Sweden are increasingly growing, bringing concrete values to both sides.

Given the current global context, the two countries have more opportunities and need to boost cooperation across all fields, the minister stressed.

The two countries' development strategies lay emphasis on science and technology, innovation, digital transformation, and green transition, highlighted Minister Dousa.

At the business forum, Vietnamese and Swedish agencies and enterprises exchanged seven cooperation documents in the fields of education and training, artificial intelligence research, and polyester fibre recycling, in the presence of Prime Minister Pham Minh Chinh and Swedish Minister of International Development and Foreign Trade Benjamin Dousa.

Among the document, Vietnam’s central province of Binh Dinh handed over investment license to Sweden’s SYRE IMPACT AB for a large-scale polyester recycling and production complex, valued at around $1 billion.

The project will be located in Nhon Hoi Industrial Park (Zone A), spanning nearly 29 hectares. Once operational by 2029, the complex is expected to produce between 100,000 and 250,000 tons of PET pellets a year.