Vietnamese, Swedish firms talk partnership for sustainable growth

08:36 | 10/05/2019 Cooperation

Crown Princess of Sweden Victoria Ingrid Alice Désiree and Deputy Prime Minister and Foreign Minister Pham Binh Minh co-chaired the Vietnam – Sweden Business Summit: Partnering for Sustainable Growth in Hanoi on May 7. 

Crown Princess Victoria Ingrid Alice Desiree at the event

The event was co-organized by the Swedish Embassy in Hanoi, the Swedish Trade & Invest Council and the Vietnam Chamber of Commerce and Industry on the occasion of the 50th anniversary of bilateral diplomatic ties, as part of the Vietnam visit by Swedish Crown Princess Victoria Ingrid Alice Desiree and her spouse from May 6-8.

It brought together over 1,000 delegates from ministries, agencies, international organisations, including 70 businesspeople representing 50 Swedish firms and trade organisations led by Swedish Minister for Foreign Trade Ann Linde.

Major fields set as a focus for sustainable development and innovation include manufacturing, solutions for consumers, health care and education were discussed at the summit.

Speaking at the event, Crown Princess Victoria said Vietnam and Sweden have fostered a long-standing and sustainable partnership based on mutual trust and respect over the past five decades. She expressed support for Vietnam’s commitment to the fulfillment of the United Nations sustainable development goals till 2030, and said with optimism that the event will afford both countries and their firms a chance to enhance cooperation.

Deputy Prime Minister and Foreign Minister Pham Binh Minh said it is golden time to develop bilateral ties and economic, trade and investment links in particular, adding that the Vietnamese economy is improving with more stable and transparent laws and policies, attracting investors globally, as well as from the EU and Sweden in particular.

At present, Sweden is an important and trustworthy partner of Vietnam in the European Union with 67 projects worth 364 million USD, ranking 34th out of 130 countries and territories investing in the nation. Two-way trade hit 1.5 billion USD in 2018.

Vietnam wants to acquire experience from the world’s leading technological groups to catch up with the fourth industrial revolution, he said.

He added that Vietnam supports trade liberalisation, respects international law and multilateral trade mechanisms. As an active member of the ASEAN Economic Community with a market of over 600 million people, Vietnam has closely linked with global and regional economies, especially realising the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and promoting the European Union – Vietnam Free Trade Agreement (EVFTA).

The host believed that Swedish firms present at the event are excited to welcome opportunities brought about by EVFTA so that he urged the Swedish government and firms to raise strong voice to accelerate the signing and ratification of the deal for common benefits of both nations.

Participating firms discussed business cooperation prospects, thus promoting their partnership.

Theo VNA