Similar to the rest of the world, the pandemic has had an adverse effect on Vietnam’s business and social landscape. Despite an overall global economic slowdown, Vietnam's economy has been surprisingly resilient. Vietnam is the only Southeast Asian country having positive economic growth, 2.9 per cent in 2020.
Compared to last year’s survey, Swedish companies are much more optimistic regarding their projected sales for the upcoming year. We foresee a bright future for the trade relations between Sweden and Vietnam, with increasing trade and investment volumes in many segments of the market. While business operations in 2020 have been affected one way or another, the overall business performance appears to be profitable as reported by more than half of the Swedish companies that took part in the survey.
According to the Global Climate Risk Index, Vietnam has recently placed itself as one of the nations most affected by climate change. In 2020, a historical series of storms and floods in the central region led to significant losses of human lives and infrastructure. While great strides have been made in the sustainability agenda, Vietnam still faces challenges on environmental and climate issues, presenting a great opportunity for Swedish firms to provide green solutions.
Vietnam has a sizable population of over 95 million and is home to APAC’s fastest-expanding middle class, expected to reach 33 million by 2025. As an emerging market, Vietnam has continued to grow thanks to the rapid adoption of cutting-edge technologies, a surging manufacturing hub, and a high degree of market openness.
The purpose of this report is to increase the understanding of Swedish companies’ performance in Vietnam and to share insights into the opportunities and challenges that the Vietnamese market poses.
Please download the report for a complete view of the results and detailed analysis.
About the survey
This Vietnam 2021 edition was carried out during the second quarter of 2021. To date, there are around 70 Swedish companies that are present in Vietnam all of which were invited to participate in the survey. The response rate of 30 per cent reflects the trying times which businesses were contending with during a pandemic year. It can be concluded that despite the relatively small response rate and sample size thereof, the data is fairly representative of Swedish companies’ presence, their business activities, as well as perceptions of economic developments in Vietnam.
The report is produced on a bi-annual basis by Team Sweden, a joint initiative where Business Sweden collaborates with Sweden’s local embassies, consulates and chambers of commerce around the world, among other stakeholders.
The survey provides first-hand perspectives and insights into business trends, issues and challenges in global markets based on extensive interviews with Swedish companies operating in each respective country.