Take a chance on Viet Nam: PM Phuc wants Swedish investment

Tuesday, May 28, 2019 08:00

Prime Ministers Nguyen Xuan Phuc (third, left) and Stefan Löfven (third, right) witness the exchange of cooperation documents at the Viet Nam-Sweden business forum in Stockholm on May 27. — VNA/VNS Photo

Viet Nam hopes that Swedish investors and businesses will cooperate with and invest in the Southeast Asian nation, Prime Minister Nguyen Xuan Phuc has said.

The PM on Monday told the Viet Nam-Sweden business forum in Stockholm that the Southeast Asian nation is reforming its institutes and restructuring its economy, while promoting the private sector, so the time to invest is now.

Attending the forum as part of his ongoing visit to Sweden, PM Phuc highlighted the two nations’ sound relations, saying they propelled two-way to more than US$1.5 billion.

Sweden ranks 34th among the 130 countries and territories investing in Viet Nam with 34 projects worth a combined more than $350 million he pointed out, adding that numerous multinational groups from Sweden are operating in Viet Nam like ABB, Ericsson, Volvo and Electrolux.

He briefed the participants on Viet Nam’s economic development in 2018 with GDP growth of 7.1 per cent, trade turnover hitting $500 billion, including $250 billion in exports, and inflation kept under 4 per cent.

Viet Nam has new-generation free trade agreements and is preparing to sign the EU-Viet Nam FTA (EVFTA) with the European Union.

PM Phuc expressed his hoped that the government and businesses of Sweden will support the EU’s early signing and ratification of the deal and the EU-Viet Nam Investment Promotion Agreement (EVIPA) next month.

According to the PM, the pacts will promote trade between Viet Nam and the EU, and Viet Nam and Sweden. Within the framework of the deals, Vietnamese goods can access the EU distribution chain, and Swedish firms investing in Viet Nam will be able to access the ASEAN market.

He said that via the forum, the two countries’ businesses would better understand each other, thus contributing to elevating the Viet Nam-Sweden relations.

Swedish PM Stefan Löfven, for his part, said he hoped the EU would sign the EVFTA with Viet Nam soon.

He praised Viet Nam for its socio-economic achievements over the past two decades.

The Swedish PM said the two countries’ firms have great opportunities for co-operation, and Sweden has invented important solutions in smart city building, 5G technology, public transport solutions, renewable energy and power grid, IT and telecoms, air traffic flow management, waste treatment and healthcare technology.

Sweden is ready to work with Viet Nam, he said, particularly with the two countries celebrating the 50th anniversary of Viet Nam-Sweden diplomatic ties this year.

Also at the forum, the two PMs witnessed the signing of several deals between enterprises of Viet Nam and Sweden, notably a project between Viet Nam’s NutiFood and Sweden’s Backahill and the cooperative of milk cow raising farms Skånemejerier Ekonomisk Förening with the operation of dairy mill NutiFood Sweden AB. — VNS

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