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

STOCKHOLM — Việt Nam hopes that Swedish investors and businesses will cooperate with and invest in the Southeast Asian nation, Prime Minister Nguyễn Xuân Phúc has said. 

The PM on Monday told the Việt 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 Phúc 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 Việt Nam with 34 projects worth a combined more than $350 million he pointed out, adding that numerous multinational groups from Sweden are operating in Việt Nam like ABB, Ericsson, Volvo and Electrolux.

He briefed the participants on Việt 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.

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

PM Phúc 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-Việt Nam Investment Promotion Agreement (EVIPA) next month.

According to the PM, the pacts will promote trade between Việt Nam and the EU, and Việt Nam and Sweden. Within the framework of the deals, Vietnamese goods can access the EU distribution chain, and Swedish firms investing in Việt 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 Việt Nam-Sweden relations.

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

He praised Việt 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 Việt Nam, he said, particularly with the two countries celebrating the 50th anniversary of Việt Nam-Sweden diplomatic ties this year. 

Also at the forum, the two PMs witnessed the signing of several deals between enterprises of Việt Nam and Sweden, notably a project between Việt 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