According to the Ministry of Industry and Trade, trade between Vietnam and Denmark has a clearly complementary structure. Vietnam mainly exports textiles and garments, footwear, seafood, wooden products, iron and steel products, machinery and equipment, electronic components and various consumer goods to Denmark. In return, it imports machinery and equipment, pharmaceuticals, chemicals, technology products and materials for manufacturing and the green transition.
The EU-Vietnam Free Trade Agreement (EVFTA) also provides a favourable framework for businesses in both countries to better tap market potential through tariff reductions, improved market access for goods and expanded trade opportunities. It helps boost bilateral trade, diversify markets and strengthen links between Vietnamese and Danish businesses.
Statistics show that two-way trade reached 609.47 million USD in the first eight months of 2026, up 37.5% year-on-year. Vietnam’s exports to Denmark totalled 346.81 million USD, an increase of 27.7%, while its imports rose 53% to 262.66 million USD.
Vietnamese Ambassador to Denmark Nguyen Le Thanh said the most notable feature of bilateral relations over the past 55 years had been their substantial development in scope, substance and depth of cooperation. The milestones included the establishment of diplomatic relations in 1971, a Strategic Partnership in climate change, the environment, energy and green growth in 2011, a Comprehensive Partnership in 2013 and a Green Strategic Partnership in 2023.
These developments demonstrated that bilateral ties had continued to expand in both breadth and depth, in line with the interests and development priorities of each country. In particular, the Green Strategic Partnership has placed the green transition and sustainable development at the heart of bilateral relations, opening up opportunities for cooperation across a wider range of fields.
According to Thanh, Vietnam is becoming increasingly important to Denmark’s efforts to strengthen ties with the Indo-Pacific region. In its 2023 Foreign and Security Policy Strategy, Denmark identifies Vietnam as one of its priority countries for expanding and elevating relations in the region. This reflects Denmark’s view of Vietnam not only as a promising growth market but also as an important partner in economic cooperation, the green transition and sustainable development, as well as in strengthening Denmark’s presence in the region.
Economic, trade and investment cooperation remains a key driver of bilateral relations. Despite difficulties in international trade, exchanges between Vietnam and Denmark have maintained positive growth. Danish businesses increasingly regard Vietnam as a dynamic market and a long-term investment destination in the region.
At the end of July 2026, Denmark had 179 valid investment projects in Vietnam with total registered capital of nearly 2.5 billion USD, ranking 21st among 153 countries and territories investing in the country. Beyond investment volume, the quality and orientation of these projects are also significant. Major Danish groups, including LEGO, Maersk, Pandora, Vestas and Novo Nordisk, have established or expanded operations in Vietnam in manufacturing, logistics and seaports, energy, pharmaceuticals, green technology and other high-value-added industries.
Cooperation is also expanding into promising new fields such as healthcare and life sciences, innovation, digitalisation and technology.
Meanwhile, green-transition cooperation is becoming increasingly substantive and has emerged as a defining feature of bilateral relations. Vietnam has a dynamic economy, a market of more than 100 million people, considerable potential in renewable energy, science and technology and innovation, and increasingly deep integration into international supply chains. Denmark, for its part, boasts strengths in technology and experience in clean energy development, environmental technology, sustainable food production and the circular economy, and many other important fields.
These complementary strengths create opportunities for cooperation, investment and the development of sustainable value chains, bringing practical benefits to both countries.
Strengthening cooperation
At a working session with Danish wind energy group Vestas, Deputy Minister of Industry and Trade Truong Thanh Hoai stressed that Vietnam identifies renewable energy, including onshore, nearshore and offshore wind power, as a key priority for ensuring energy security, meeting electricity demand for socio-economic development and accelerating the energy transition.
Wind power development will not only add clean electricity to the national grid but also create opportunities to establish and expand the renewable energy industry, strengthen domestic equipment manufacturing, and develop technical services, port infrastructure, logistics, operations and maintenance. These activities would enable Vietnamese businesses to participate more deeply in domestic and global energy supply chains. Hoai called on Vestas to continue working closely with Vietnamese authorities and businesses and share international experience in wind power development, particularly offshore wind. He also urged the group to study and implement projects consistent with Vietnam’s plans and regulations, expand cooperation with domestic suppliers, and help improve local operations and maintenance capabilities.
He further called for stronger industrial cooperation, technology transfer and workforce training, as well as gradual increases in the localisation rate in the wind power industry.
The deputy minister also asked Vestas and its Vietnamese partners to maintain regular exchanges and dialogue on wind power market development, industrial cooperation, technology and supply chains, helping Vietnam effectively achieve its renewable energy development goals.
Ambassador Thanh noted that Vietnam is shifting towards a growth model driven by science and technology, innovation and digital transformation in line with Politburo Resolution No. 57-NQ/TW on breakthroughs in the development of science and technology, innovation and national digital transformation.
The combination of the two countries’ strengths and development priorities offered opportunities for joint research, technology development and application, the creation of new products and solutions, market expansion and deeper participation in global value chains.
To turn these strengths and opportunities into concrete cooperation programmes and projects that generate new products, technologies and value for both countries, the ambassador said priority should be given to stepping up cooperation in green energy transition, from policy and planning to investment, industrial development and renewable energy supply chains. Science, technology and innovation should also become new drivers of bilateral growth.
This area holds considerable promise, particularly as Vietnam prioritises strategic technologies such as artificial intelligence, robotics and automation, biotechnology, energy technologies and advanced materials. Denmark, meanwhile, has strong capabilities in research, development and technology application in many corresponding fields, supported by an innovation ecosystem that closely links universities, research institutes and businesses.
Maritime affairs, logistics and green supply chain development also offer promising avenues for cooperation. Denmark has strengths in maritime transport, logistics and sustainable technologies, while Vietnam benefits from its geoeconomic position, seaport network, manufacturing capacity and increasingly important role in regional supply chains.
These complementary advantages provide a basis for stronger business links, infrastructure and logistics services development, and the expansion of sustainable green value chains, helping both countries enhance competitiveness and resilience amid fluctuations in the global economy./.