It was spotlighted at the Nordic - Viet Nam Business Forum on October 29, part of the 2026 Autumn Economic Forum in Ho Chi Minh City.
The forum, themed “The Next Growth Decade: Where Vietnamese Ambition and Nordic Standards Compound," sought to pair Nordic technology, governance and sustainability expertise with Viet Nam’s market, manufacturing base and workforce.
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Vice Chairman of the Ho Chi Minh City People’s Committee Bui Minh Thanh addresses the Nordic - Viet Nam Business Forum on October 29, 2026. (Photo: baoquocte.vn) |
Chairman of the Nordic Chamber of Commerce in Viet Nam (NordCham Viet Nam) Thue Quist Thomasen said bilateral ties are gaining momentum through new agreements covering sci-tech and innovation cooperation, the Viet Nam–Norway Green Strategic Partnership, and the newly-signed Viet Nam–European Free Trade Association (EFTA) Free Trade Agreement (FTA).
Tariff cuts alone won’t secure long-term investment. Thomasen said companies need predictable licensing and approvals and access to green power, including direct power purchase agreements.
Norwegian Ambassador Stein Iversen said the free trade deal and the green partnership complement each other: the trade pact sets rules for commerce and investment, while the green partnership signals political backing for a sustainable marine economy, marine spatial planning and renewables. Firms therefore should move early to grasp those opportunities.
The EFTA–Viet Nam FTA took 14 years to negotiate and carries rules that companies will have to master, including tariffs, rules of origin and documentation. Iversen urged firms to study the text, test product fit and prepare for market standards. Ratification is still needed, and the forum heard that it could be completed in the first half of 2027.
The payoff is meant to be two-way: Norwegian companies gain easier access to Viet Nam while Vietnamese exporters gain conditions to sell into EFTA markets. Seafood is a standout - nearly 60% of Norway’s export value to Viet Nam, with salmon duties slated to hit 0% on entry into force and mackerel to 0% over three years. Maritime industry, circular economy and energy are also in play.
Vice Chairman of the Ho Chi Minh City People’s Committee Bui Minh Thanh said the city, now more than 6,772 sq.km and over 14 million people after merging with Binh Duong and Ba Ria - Vung Tau provinces, boasts finance, trade, services, industry, ports, logistics and marine economy strengths. The larger footprint gives it room to reshape growth and plug deeper into global value chains.
The city wants to shift from simple trade and investment promotion to co-building development capacity. Nordic investors are expected to bring technology, governance standards and innovation that lift Vietnamese firms up the value chain. Priorities include clean energy, sustainable transport, circular economy, hi-tech industry, environmental solutions and smart cities, he said.
Thanh pledged continued investment climate reforms, faster administrative procedures and more transparency and governance efficiency. These are necessary conditions for firms to invest, expand and stay for the long term.
More than 100 Government, diplomatic and business representatives from Viet Nam and the Nordics attended the event. The hope is that contacts turn into company visits, pilot projects, contracts or investment.
Source: VNA