Vietnam’s economic partnership with Scandinavia is rapidly evolving beyond traditional trade into high-value collaboration in sustainability, advanced manufacturing, and digital innovation. Backed by strong bilateral frameworks and growing investment interest, this corridor offers strategic opportunities in sectors where Scandinavian technology meets Vietnam’s growth ambitions.

Sweden: Leading Investment and Innovation

Sweden has emerged as Vietnam’s largest Scandinavian investor, with registered capital soaring to over $1 billion in early 2025. Major firms—including Ericsson, ABB, and IKEA—are expanding in advanced manufacturing, ICT, and renewable energy.
Bilateral trade reached $1.5 billion in 2024, dominated by electronics, telecommunications equipment, and machinery. Sweden serves as a strategic gateway for Vietnamese exports into the EU, leveraging the tariff advantages under the EVFTA.

Denmark: Green Transition in Action

Denmark’s Green Strategic Partnership with Vietnam is translating into tangible projects, particularly in offshore wind and sustainable agriculture. Trade grew 20.3% in 2024, reaching $676 million, with Vietnamese steel and electronics exports showing particularly strong momentum.
Danish companies are also deepening local presence—from Lego’s $1 billion carbon-neutral factory to energy leader Ørsted’s offshore wind investments—aligning with Vietnam’s target of 30% renewable energy by 2030.

Norway: Sustainable Seas and Energy

While smaller in scale, Norway’s trade with Vietnam is growing fast—up 38% year-on-year in early 2025. Key areas include maritime technology, aquaculture, and renewable energy.
Norwegian companies bring advanced expertise in shipbuilding, cold storage, and hydropower, supporting Vietnam’s push toward sustainable seafood production and clean energy.

Why Now? Key Drivers

EVFTA Advantage: Tariff elimination and improved market access for EU members Sweden and Denmark.

Vietnam’s Green Push: Strong policy support for renewables, waste management, and high-tech manufacturing.

Supply Chain Diversification: Scandinavian firms are using Vietnam as a strategic base to serve both Asian and European markets

Outlook

Vietnam’s shift toward high-value, sustainable production—coupled with Scandinavia’s leading expertise in green and digital solutions—creates a compelling synergy. For investors eyeing long-term growth in Southeast Asia’s most dynamic economy, this partnership offers a forward-looking platform built on technology and sustainability.