The Danish, Finnish, Swedish and Norwegian embassies in Hanoi with the Ho Chi Minh National Academy of Politics organised a seminar on the achievements and experiences of the Nordic socio-economic model on the occasion the Nordic Day Celebration on March 23.

The event was attended by speakers from Scandinavia and over 100 Vietnamese academics, researchers, policy-makers, opinion leaders and other stakeholders.

Associate. Prof. Dr. Le Quoc Ly, Vice President of the Ho Chi Minh National Academy of Politics, said "The Nordic socio-economic model has recorded impressive economic growth achievements, in developing a social welfare system, protection of the environment, as well as preservation and promotion of cultural values, and should be considered as good reference, including to Vietnam."

Socio-economic Nordic seminar held in Hanoi on March 23

The Nordic countries are currently upheld as a model for good governance around the world.

Through their presentations at the seminar, four Nordic speakers provided the audience with an overview of the region’s history, shared experience on how the Nordic countries have worked together and trusted each other to become what they are today, and one of the distinctive features of social dialogue.

Speaking on behalf of the Nordic ambassadors while opening the seminar, Ambassador of Norway Siren Gjerme Eriksen stressed that “A key aspect of the close Nordic co-operation is that we learn from each other. Something that works well in one country will often be quickly emulated in the other countries. I believe Vietnam is also open to and interested in learning from others, sharing experiences. Increasingly, Vietnam can provide lessons itself”.

“The Nordic countries differ in many ways, but we are tied together by a set of common values such as common sense, equality, transparency, trust and entrepreneurship, and through our long history of friendship and co-operation,” said Danish Chargé d'affaires Christian Brix Møller.

Finnish Ambassador Kari Kahiluoto noted that “ the Nordic society model can be characterised by a high level of services and equalisers from society, distribution of income through taxation and strong institutions. This model has been flexible and has proven to serve Nordic societies well. “

The Nordics have had the oldest and most diverse forms of regional political collaboration for the past six decades. It is not by chance that a region with only 26 million people, which wouldn’t even make it into the top 50 of countries ranked by population, is one of the most integrated regions and the world’s 11th largest economy with a total GDP of USD1,416 billion.

Finnish Ambassador Kari Kahiluoto (right) at the seminar

The Nordic Model helps its members to share values and promote the common goals including gender equality, which “in the labour market is a hallmark for the Nordic countries, and has enabled us to become one of the most prosperous regions in the world”, said Ambassador of Norway Siren Gjerme Eriksen. Gender equality has made a significant contribution to the Nordic’s economic success. The proportion of women in work and politics is among the highest anywhere, and Nordic men hold the record in paternity leave.

Swedish Ambassador Pereric Högberg emphasised on innovation and sustainability where the Nordic strives to be a pioneer in the development of production methods that are clean, sustainable and use resources efficiently. He noted that “Goods and services must not damage the environment or health at any point in the cycle – from source to sea. We are world leaders in innovations, working together to find new, smart and bio-economic solutions. Also, transparency and access to information always have been key to Nordic success”.

As a result, Nordic countries became a group of nations managing to have good economic and social indicators and top many of the world rankings and indexes. The ranking is used as evidence of the model’s performance and also helps policy-makers to identify areas for improvement.