The Vietnam-Sweden Enterprise Discussion board, held in Stockholm in September 2024. Credit score: LinkedIn, FPT Software program
Commerce between Sweden and Vietnam has surged by 11.8 per cent within the first 11 months of 2024, showcasing the rising energy of their financial collaboration.
This milestone coincides with the celebration of 55 years of diplomatic relations between the 2 nations.
Sweden-Vietnam commerce and logistics
In accordance with a report by Vietnam.VN, Sweden stays Vietnam’s largest buying and selling accomplice in Northern Europe, whereas Vietnam is Sweden’s high import accomplice in Southeast Asia.
In 2023, their whole bilateral commerce reached $1.29 billion (€1.17 billion), rising steadily to $1.3 billion (€1.18 billion) in 2024. This progress is pushed by the EU-Vietnam Free Commerce Settlement (EVFTA), which has lowered tariffs and commerce boundaries, making Vietnamese items extra aggressive when it comes to value and high quality.
Efforts to streamline logistics have resulted in partnerships between key ports, together with Gothenburg Port and Tân Cảng Sài Gòn. In accordance with Bùi Văn Quý, Chairman of the Southeast Asian Seaports Affiliation, these agreements purpose to cut back transport prices and enhance effectivity.
Partnership between Ericsson and Mobifone
In 2024, a 5G Innovation Centre in Vietnam was established by means of a partnership between Ericsson and Mobifone. The centre goals to develop digital transformation and high-tech analysis.
In accordance with a report by ScandAsia, Swedish customers are more and more prioritising sustainable and environmentally pleasant merchandise, presenting new alternatives for Vietnamese exporters. Merchandise like natural seafood, textiles made out of recycled supplies, and sustainably produced furnishings have seen rising demand.
Vietnam-Sweden Enterprise Discussion board
The Vietnam-Sweden Enterprise Discussion board, held in Stockholm in September 2024, was a significant spotlight of the 12 months. With the theme “Digital Transformation, Vitality Transition, and Innovation”, the occasion facilitated discussions on renewable power and inexperienced transformation.
As well as, Swedish companies resembling IKEA and H&M have elevated manufacturing orders in Vietnam, aligning with a world pattern of diversifying provide chains away from China.
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