Vietnam attracts Northern European Investors

Northern European enterprises are gravitating towards Vietnam according to Trade Counsellor of Vietnam in Sweden and Northern Europe, Nguyen Thi Hoang Thuy.

Denmark in particular is emerging as a new investor in Vietnam, she explains.

A lot of it is thanks to the EU-Vietnam Free Trade Agreement (EVFTA), which became effective from 1 August 2020, and has helped ease the domestic economy of the South East Asian country.

The agreement has allowed for easier trade between the continents, which was earlier hindered by a lack of direct flights and cooperation.

“Many enterprises are planning to relocate to Vietnam to optimize incentives from the EVFTA whilst exporting to the EU,” she added.

Vietnamese exports to Northern European markets grew by 14.7% per year in 2020 to 2022.