Phu Tho promotes investment opportunities in Sweden, seeking partnerships in high-tech industries and green growth

Phu Tho promotes investment opportunities in Sweden, seeking partnerships in high-tech industries and green growth

A delegation from Phu Tho province has met with Swedish technology companies and industrial groups to promote investment in innovation, digital transformation, and sustainable development.

The meetings took place on June 10 during an official working visit to Sweden, led by Deputy Secretary of Phu Tho Party Committee Bui Huy Vinh. The delegation also met with the Embassy of Vietnam in Sweden.

The vist comes as Vietnam-Sweden relations move into a new phase of cooperation focused on innovation, digital transformation, advanced technology, and sustainable development – priority sectors that Phu Tho is targeting to attract investment and create new drivers of economic growth.

Phu Tho province's delegation and Vietnamese Embassy in Sweden

During a working session with the Embassy of Vietnam in Sweden, Ambassador Tran Van Tuan noted that the Vietnamese community in Sweden now exceeds 22,000 people, most of whom are highly educated and well integrated into Swedish society.

Beyond traditional sectors such as trade and services, many Vietnamese professionals hold key positions at universities, research institutes, technology companies, and major industrial corporations across Sweden. According to the ambassador, this highly skilled community represents a valuable bridge for expanding cooperation in science, technology, innovation, and investment between Vietnam and Sweden.

Ambassador Tuan also highlighted the Vietnam Science and Technology Experts Association in Sweden, established in 2024 to connect Vietnamese scientists and professionals working in the country. The organisation currently brings together experts in IT, AI, advanced materials, energy and biomedical sciences, creating opportunities for knowledge exchange, technology transfer and research collaboration between the two countries.

Recognising the potential of these networks, Vinh expressed his hope that the Embassy would continue supporting Phu Tho in promoting its investment opportunities, connecting with Swedish enterprises and introducing potential investors to the province.

According to provincial leaders, Phu Tho is accelerating administrative reform, improving its business environment and building a more investor-friendly administration. The province is particularly keen to attract investment in sectors where Sweden possesses strong expertise, including high-tech manufacturing, precision engineering, pharmaceuticals, IT, innovation and high-value tourism.

One of the highlights of the visit was a meeting with Airborne Group, a global technology company specialising in the research, design, automation and manufacture of composite components for aerospace, maritime, transportation and other advanced industries.

During the discussion, Airborne Group introduced its green hydrogen solutions and scalable energy storage systems designed to support the development of sustainable industrial parks and strengthen grid stability in Vietnam.

The two sides exchanged views on potential cooperation in technology transfer, green industrial development, joint innovation initiatives and long-term strategic partnerships.

In addition to industrial cooperation, the delegation also introduced Phu Tho’s unique cultural heritage and ecotourism offerings, aiming to attract high-end visitors from the Nordic region.

The discussions reflected Phu Tho’s broader investment strategy, which extends beyond attracting capital to embracing advanced technologies, modern management practices and sustainable development models from leading industrial economies such as Sweden.

Bui Huy Vinh, Deputy Secretary of the Provincial Party Committee and ASSA ABLOY Asia Holding AB

The delegation also held talks with executives of ASSA ABLOY Asia Holding AB, one of the world’s leading providers of digital locks, access control systems and smart security solutions.

Founded in 1994 through the merger of Sweden’s ASSA and Finland’s Abloy, the group now operates in more than 70 countries and territories and is recognised as one of the global leaders in security technologies.

Company representatives shared their future development plans and interest in exploring additional investment opportunities in Vietnam, including potential locations within Phu Tho Province.

Speaking at the meeting, Vinh emphasised that the traditional friendship between Vietnam and Sweden has been nurtured for more than five decades. For Phu Tho, one of the most significant symbols of that relationship is the Bai Bang Paper Mill project, which played a vital role in the province’s industrialisation and economic development.

Introducing Phu Tho’s investment environment, he highlighted the province’s strategic location near Hanoi, increasingly modern transport infrastructure, young workforce and stable business climate. These advantages have helped attract a growing number of foreign-invested enterprises in recent years.

Notably, ASSA ABLOY already has a manufacturing presence in Vietnam through ASSA ABLOY Smart Technology Vietnam, located in Ba Thien II Industrial Park. The facility, which began operations in 2020 with a total investment of approximately $25 million, manufactures a range of high-tech products including digital smart locks, access control systems, security devices and electronic components for the security technology industry.

As Phu Tho focuses on developing high-tech manufacturing, electronics, automation, digital transformation and supporting industries, foreign-invested enterprises are viewed as a key driver of economic growth, technology transfer, workforce development and international integration.

The provincial leadership therefore reaffirmed its commitment to creating favourable conditions for foreign investors to operate and expand successfully in the long term. At the same time, Phu Tho hopes ASSA ABLOY will continue to expand its investment footprint in the province, particularly in advanced manufacturing, smart production, workforce training and the development of a supporting industrial ecosystem.

Through its investment promotion activities in Sweden, Phu Tho not only showcased its economic potential but also actively engaged with emerging trends in innovation, green technology and sustainable development. The visit marks another step in the province’s efforts to attract high-quality investment projects, strengthen competitiveness and support long-term economic growth.

VIR