Viet Nam - An attractive destination for Northern European firms: ScandAsia
Viet Nam has become one of the most attractive investment destinations with high economic growth and strong investment in infrastructure being among the reasons for Northern European businessmen to consider.
VN, an attractive destination for Northern European firms: ScandAsia
An article recently published on the site ScandAsia, which covers Nordic news and business promotion in Asia said Swedish exports to Viet Nam have increased by almost 6 percent by 2020, despite the COVID-19 pandemic.
Country analyst at the Swedish Export Credit Agency (EKN) Johan Fredriksson noted Viet Nam was one of a handful of countries whose economies grew even during the pandemic year of 2020. And according to forecasts from the World Bank and IMF, continued growth is expected at around 6-7 percent per year, he noted.
According to him, the door is also open for small- and medium-sized companies. He highlighted opportunities for the groups to establish themselves in the country as subcontractors.
Business Sweden’s acting country manager in Viet Nam Emil Akander, was cited as saying the growing export was thanks to several factors, particularly the rapid increase of the Vietnamese middle class’s purchasing power.
He explained that 30 million Vietnamese will belong to the country’s middle class by 2025, which is almost a doubling since 2012.
The official said at the same time, Viet Nam sees major investments being made in infrastructure and health care.
Airports and the subway in Viet Nam's two biggest hubs Ha Noi and Ho Chi Minh City are being expanded, new hospitals built, and major investments made in new energy. These sectors are strengths of Swedish firms, he added.
Today, several conglomerates and large industrial companies from Sweden, including H&M, ABB, Tetrapak, Sandvik, SKF, and Ericsson, are operating in the country.
source: news.chinhphu.vn
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