Nordic firms show long-term interest in Vietnam as investments increase
Among 72 countries and territories investing in Vietnam over the year's first half, Sweden emerged as the third largest investor, with a total investment of 1 billion USD or 10.8% of newly registered FDI, coming after only Singapore and China.
The Lego plant in Binh Duong province. The recent increase in capital flow by Nordic companies shows significant interest in long-term operations in Vietnam. (Photo: VNA)
Hanoi (VNS/VNA) – A recent increase in capital flow from Nordic companies shows a significant interest in long-term operations in Vietnam, as the country positions itself as a key destination for European investors seeking to diversify supply chains and align with global sustainability standards.
Statistics from the Foreign Investment Agency show that foreign direct investment (FDI) totalled 21.5 billion USD in the first half of this year, an increase of 32.6% over the same period last year. Of this, newly registered capital reached 9.29 billion USD in 1,988 projects.
Notably, among 72 countries and territories investing in Vietnam over the period, Sweden emerged as the third largest investor, with a total investment of 1 billion USD or 10.8% of newly registered FDI, coming after only Singapore and China.
According to the Vietnam Trade Office in Sweden, which also covers Denmark, Norway, Iceland and Latvia, Sweden’s increase in investment in Vietnam reflects a broader shift towards Southeast Asia.
Vietnam is considered a strategic destination with a stable environment, a growing market and improving infrastructure.
Denmark is also expanding its presence in Vietnam, especially in the green transition, with leading companies like Ørsted, Vestas and COWI increasing operations in Vietnam through offshore wind, logistics infrastructure, engineering consultancy and sustainability projects.
A notable project is a carbon-neutral Lego factory that started operations in the former Binh Duong province in April.
To further attract investments from Sweden and Denmark, which are global leaders in innovation and sustainability aligning with Vietnam’s ambitions to attract high-quality investment, the Vietnam Trade Office in Sweden urged more focus on accelerating administrative reforms, particularly in energy and green infrastructure, along with the development of specialised industrial zones for green and digital investments.
ꦬ Investment promotion targeting Nordic markets should also be enhanced, while improving regulatory frameworks for ESG and carbon taxation will also be critical./.
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