Vietnam and Norway aim to strengthen cooperation in the green economy

The Norwegian Embassy in Vietnam celebrated the 211th anniversary of Norwegian Constitution Day (May 17, 1814 - May 17, 2025) in Hanoi on May 16.

On this occasion, Norwegian Ambassador to Vietnam H.E Hilde Solbakken and Vietnam's Deputy Minister of Foreign Affairs Le Thi Thu Hang shared their insights into the Vietnam - Norway relationship and the potential for bilateral cooperation, especially in areas related to the green economy and circular economy.

Specifically, H.E Hilde Solbakken emphasized that Norway highly values the close cooperation between the two countries in jointly seeking solutions to overcome global challenges, including climate change and ocean protection.

In particular, Vietnam and Norway are working together to accelerate the green energy transition and enhance cooperation in green maritime.

Vietnam is currently Norway’s second-largest trading partner in ASEAN (after Singapore), with two-way trade turnover reaching over $450 million in 2024. In which, Norwegian seafood exports to Vietnam alone exceeded $250 million, up 16 per cent compared to 2023.

Currently, Norway has 60 FDI projects in Vietnam with total registered capital exceeding $200 million, ranking 40th among countries and territories investing in Vietnam. 

According to the Ambassador, cooperation to promote a green and circular economy between the two countries are yielding positive signs, particularly in improving waste management, sustainable marine aquaculture, renewable energy. Therefore, the two countries should further cooperation in these sector in the coming times.

H.E Hilde Solbakken also stressed that both Norway and Vietnam are open economies that rely heavily on trade.

Therefore, she expressed hope that negotiations on the Free Trade Agreement (FTA) between Vietnam and the European Free Trade Association (EFTA) (including Switzerland, Norway, Iceland, and Liechtenstein) would make significant progress this year to further boost trade between the two countries.

“In a world facing many challenges, it is more important than ever to cherish and uphold strong and growing relationships like the one between Norway and Vietnam. We place special importance on our close and long-standing ties with Vietnam and remain optimistic about the future of our cooperation,” H.E Hilde Solbakken emphasized.

On the similar mind, Deputy Minister of Foreign Affairs Le Thi Thu Hang also affirmed that the relationship between Vietnam and Norway has been developing very well and has achieved many positive results, especially in green economy.

Many Norwegian companies have played an active role in bilateral cooperation, particularly in the fields of renewable and green marine.

 In order to promote the great potential, the Deputy Minister said that the two countries are actively coordinating to build a new framework for cooperation in the field of sustainable marine economy and renewable energy, supporting Vietnam in implementing the Joint Energy Transition Partnership (JETP) with the group of international partners, including Norway.

The Deputy Minister also expressed hope that more Vietnamese businesses would boost their investment in Norway in the coming time.