Take a chance on Vietnam: PM Phuc wants Swedish investment
V IETNAM hopes that Swedish investors and businesses will cooperate wit h and invest in the Southeast Asian nation, Prime Minister Nguyen Xuan Phuc has said.
The premier on Monday told the VietnamSweden business forum in Stockholm that the Southeast Asian nation is reforming its institutes a nd rest r ucturing its economy, while promoting t he private sector, so t he time to invest is now.
Attending the forum as part of his ongoing v isit to Sweden, Phuc hig hl ig hted t he t wo nat ions’ sound relat ions, say i ng t hey propelled t wo-way to more t han $1.5 billion.
Sweden ranks 34th among the 130 countries and territories investing in Vietnam wit h 34 projects worth a combined more than $350 million he pointed out, adding that numerous multinationa l groups from Sweden are operating in Vietnam like ABB, Ericsson, Volvo and Electrolu x.
He briefed t he part icipa nts on Viet nam’s economic development last yea r wit h GDP grow t h of 7.1 per cent, trade turnover hitting $500 billion, including $250 billion in exports, and inf lation kept under four per cent.
Viet na m has new-generat ion f ree t rade agreements and is preparing to sign the EUVietnam FTA (EV FTA) with the EU.
Phuc expressed his hopes that the government and businesses of Sweden will support t he EU’s early signing and ratif ication of t he deal and the EU-Vietnam Investment Promotion Agreement next month.
According to the prime minister, the pacts will promote trade bet ween Vietnam and the EU, a nd Viet na m a nd Sweden. Wit hin t he f ra mework of t he dea ls, Viet namese goods ca n access t he EU dist r ibut ion cha in, a nd Swedish firms investing in Vietnam will be able to access the Asean market.
He said that v ia the forum, the t wo count r ies’ busi nesses would bet ter understa nd each ot her, t hus cont r ibut i ng to elevat i ng Vietnamese-Swedish relations.
Swedish Prime Minister Stefan Lof ven, for his part, said he hoped the EU would sign the EV FTA with Vietnam soon.
He praised Vietnam for its socio-economic achievements over the past t wo decades.
Lof ven said the t wo countries’ firms have great opportunities for cooperation, and Sweden has invented important solutions in smart city building, 5G technolog y, public transport solutions, renewable energ y and power grid, IT and telecoms, air traffic f low management, waste treatment and healthcare technolog y.
Sweden is ready to work with Vietnam, he said, particularly wit h t he t wo countries celebrating the 50th anniversar y of VietnameseSwedish diplomatic ties t his year.
Also at the forum, the t wo prime ministers witnessed the signing of several deals between enterprises of Vietnam and Sweden, notably a project bet ween Vietnam’s NutiFood and Sweden’s Backa hi l l a nd t he cooperat ive of milk cow raising farms Skanemejerier Ekonomisk Forening with the operation of dair y mill NutiFood Sweden AB.