Strong expansion of Vietnam and Denmark's commercial relations

DNHN - Three new projects with a total registered capital of $1.32 billion have propelled Denmark to third place among the major investment nations in Vietnam since the beginning of 2022.

According to the General Department of Vietnam Customs, the bilateral trade volume between Vietnam and Denmark in the first five months of 2022 was about 318.53 million USD.

2021, in which Vietnam's exports to Denmark reached around 227.2 million USD, an increase of 53.6%, while Vietnam's imports from Denmark reached 91.33 million USD, a decrease of 14.1% compared to the same time previous year.

Due to 2021, despite several consequences of the COVID-19 pandemic, the entire bilateral trade volume between Vietnam and Denmark reached $842.37 million, an increase of 18 per cent from 2020.

Textiles, clothes, aquatic goods, interior items made of materials other than wood, wood and wood products, machinery, equipment, and home appliances are among Vietnam's main exports to Denmark.Vietnam imports machinery, equipment, tools and spare parts, medicines, chemical products, aquatic items, and iron goods from Denmark. 

The bilateral trade volume between Vietnam and Denmark is projected to increase by 5.8 times between 2000 and 2020, indicating a robust growth in bilateral trade ties.

According to the Vietnam Economic Office in Sweden, the EVFTA Agreement, which will go into force in 2021 in conjunction with Denmark, Norway, Iceland, and Latvia, has had favourable effects on the two nations, hence enhancing Vietnam's trade connections. South - Denmark, therefore contributing to the expansion of the Vietnamese export market. On the EU market in general, and in Denmark in particular, Vietnamese products will have more prospects and competition.

Three new projects with a total registered capital of $1.32 billion, Denmark has maintained its position as the third biggest investor in Vietnam from the beginning of 2022 until the present. Danish enterprises are now eager to invest in Vietnam in sectors where Denmark excels, including renewable energy, agriculture, animal husbandry, and food processing.

Recent investments by LEGO and Pandora have shown the keen interest and dedication of Danish enterprises to the Vietnamese market. After the Covid-19 outbreak control measures were partly relaxed, the Danish business community in Vietnam voiced a wish to return and collaborate with Vietnam.

PV