Norway-Vietnam Bilateral Trade and Investment Cooperation
Bilateral trade cooperation between Norway and Vietnam has seen significant growth in recent years, with notable contributions from Foreign Direct Investment (FDI) projects. Norway has leveraged its advantages in advanced technology and sustainable development models, particularly in sectors such as renewable energy, maritime, and the circular economy.
FDI Investment from Norway into Vietnam (2020-2024)
From 2020 to 2024, Norway has invested approximately 150 million USD in Vietnam. The investments mainly focus on green industries, especially renewable energy and sustainable maritime solutions. Cities such as Ho Chi Minh City, Binh Duong, and Ba Ria-Vung Tau are home to most of these investments.
Notable Norwegian Companies in Vietnam
Many Norwegian companies have been operating in Vietnam, contributing to economic development and technology transfer. Some typical companies include:
- Equinor: A leading Norwegian energy company, involved in oil and gas and renewable energy sectors in Vietnam.
- Jotun: A leading paint company, with factories in Ho Chi Minh City and Binh Duong.
- DNV GL: A company providing certification and inspection services in the energy and maritime industries.
- Telenor: While the company has largely transferred its telecom activities, it still maintains a presence in Vietnam through other projects.
- VARD: A leading shipbuilding company involved in offshore projects.
Opportunities for Cooperation
Norway is known for providing sustainable solutions, especially in renewable energy, including wind and solar power, as well as sustainable maritime development. Norwegian companies are actively involved in developing renewable energy projects in Vietnam and improving the country’s energy infrastructure. Additionally, sharing experience in marine spatial planning and offshore energy development opens up many cooperation opportunities.
The Norwegian and Vietnamese governments have held dialogues and conferences to foster collaboration in these fields. Vietnam can learn from Norway’s clean energy development model and apply it to developing renewable energy sources within the country.
Cooperation between Norway and Vietnam in FDI not only provides economic opportunities but also enhances environmental management capacity, helping to meet global sustainable development goals.
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