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EVFTA to facilitate Sweden’s investment in Vietnam: Swedish minister

EVFTA to facilitate Sweden’s investment in Vietnam: Swedish minister

Swedish Minister for European Affairs and Trade Ann Linde made this statement at a meeting with Vietnamese Deputy Minister of Industry and Trade Do Thang Hai in Hanoi on October 5, during which she hailed Vietnam as the nation with the second-fastest growth rate in the world and a significant player in its region.

The guest revealed that the Swedish government had approved an ambitious export strategy seeking to boost trade and promote its companies’ participation in the global economy, with bilateral trade and investment in the Southeast Asian region—a motive force behind the world’s growth—being an important part of that goal.

Innovation had been the key factor in the process of Sweden’s development from one of the poorest countries in Europe last century into one of the world’s most developed nations at present, Linde noted.

Swedish companies also expressed their pride in Sweden’s presence among the most sustainable nations in the world, with renewable energy accounting for the largest proportion in the country’s energy market share.

The Swedish government has an ambition of becoming one of the world’s first countries not to use fossil fuels. In addition, the government has also spent SEK400 million (US$46.68 million) on the research and development of environmental technologies.

For his part, Deputy Minister Hai hailed Vietnam as among the fastest growing economies in Asia, with an annual average growth rate of 6% over the past two decades.

The country was in need of safer and more effective solutions on public transport, energy and production, he said, adding that the adverse impacts of these solutions on the environment should also be minimised to meet global demand and the goal of sustainable development.