Strengthening Vietnam–Sweden Cooperation in Climate and Business
On November 4, 2025, at the headquarters of the Ministry of Industry and Trade (MOIT), Deputy Minister Nguyen Hoang Long held a meeting with Ms. Sara Modig, State Secretary and Deputy Minister of the Ministry of Climate and Enterprise of the Kingdom of Sweden, who was on a working visit to Vietnam.
Attending the meeting with the Deputy Minister were representatives of the leadership of several units under MOIT, including the Agency of Foreign Trade, the Electricity Authority of Vietnam, the Department of Innovation, Green Transition and Industrial Promotion, and the Department of Oil, Gas and Coal.
Ms. Sara Modig’s visit aimed to further strengthen the substantive relationship between Vietnam and Sweden and to realize the cooperation aspirations of both sides, as reflected in the Memorandum of Understanding on Economic, Trade and Green Development Cooperation between the Ministry of Industry and Trade of Vietnam and the Ministry for Foreign Affairs of Sweden. This MoU was handed over by Deputy Minister Nguyen Hoang Long to Mr. Hakan Jevrell, State Secretary of the Ministry for International Development Cooperation and Foreign Trade under the Swedish Ministry for Foreign Affairs, during the official visit to the Kingdom of Sweden by Vice President Vo Thi Anh Xuan in December 2024.
At the meeting, Deputy Minister Nguyen Hoang Long shared Vietnam’s sustainable development goals in the fields of industry, energy and green transition. In recent years, Vietnam has made impressive progress on its development journey, transforming into a dynamic economy, with GDP growth projected to reach 8% in 2025 and aiming for double-digit growth in the coming years. Vietnam is increasingly affirming its active role within ASEAN, alongside deeper participation in United Nations activities and major trade agreements, demonstrating its growing influence and commitment to global cooperation. Swedish partners in particular, and European partners in general, are always welcome to participate in the development of offshore wind power projects and smart grid systems in Vietnam.
Deputy Minister Nguyen Hoang Long proposed that the two sides jointly study the possibility of signing a cooperation framework on energy, focusing on areas such as the development of green and clean energy sources, enhanced cooperation in the development of small modular nuclear reactors (SMRs), and cooperation in the exploitation and utilization of rare earth resources.
For her part, Deputy Minister Sara Modig affirmed that Sweden stands ready to accompany Vietnam in implementing its sustainability goals. As a leading country in Europe and globally in green energy, Sweden is well positioned to support Vietnam’s transition to a low-carbon economy through investment, technology transfer and policy dialogue, particularly in renewable energy, grid modernization and clean technologies. The Deputy Minister introduced several Swedish companies active in the energy sector that were present at the meeting, such as Hitachi Energy Vietnam, Comsys and Unipower, and expressed her hope that in the coming period, both sides would jointly explore the establishment of feasible cooperation mechanisms between Vietnamese agencies and units and reputable, experienced Swedish agencies and organizations to support Vietnam’s energy transition in a sustainable and equitable manner.
On this occasion, Deputy Minister Sara Modig also introduced and invited the leadership of the Ministry of Industry and Trade to attend the event “Energy and the Digital World: Modernizing Vietnam’s Power Infrastructure for a Sustainable Future,” scheduled to take place in early December 2025. The event is organized by the Embassy of Sweden and Business Sweden, in coordination with relevant Vietnamese authorities, with the aim of promoting technical exchange and policy dialogue, thereby enhancing cooperation between Vietnam and Sweden in the modernization of power infrastructure.
In the context of the current challenging geopolitical environment, Sweden has introduced an investment and trade development strategy focusing on Asia, in which Vietnam is regarded as a particularly important partner within Sweden’s supply chain. Vietnam is also Sweden’s largest import partner in Southeast Asia, with bilateral trade turnover remaining stable and growing steadily over the years.
In 2024, according to statistics from the General Department of Vietnam Customs, two-way trade turnover reached USD 1.473 billion (up 14.3% compared to 2022), of which exports amounted to USD 1.045 billion (up 10.5%) and imports reached USD 427.6 million (up 25%). Sweden ranks 23rd among 152 countries and territories investing in Vietnam, with 111 valid projects and a total registered investment capital of USD 1.7603 billion. Currently, more than 70 Swedish companies such as ABB, AstraZeneca, Ericsson, Electrolux, H&M, IKEA, Tetra Pak and Hitachi Energy are operating in Vietnam in sectors including energy, telecommunications, healthcare and infrastructure, promoting innovation and job creation.
Source: International Market Development Department
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