Editor’s note: This article is co-authored by Johan Ndisi, Swedish Ambassador to Vietnam, and Caroline Nyamayemombe, UN Women Country Representative in Vietnam.

Diversity is more than just the right thing to do – it’s good for business. Across industries, companies that embrace gender diversity, especially in leadership, outperform those that do not. Studies show that businesses with more women in decision-making roles achieve higher profitability, greater innovation, and better risk management. The evidence is clear: diverse leadership drives economic success and business innovation.

Sweden and Vietnam have long promoted female leadership, and the results speak for themselves. As of 2025, women hold 36 percent of board seats in Sweden’s publicly listed companies and 36.3 percent of senior management roles. In Vietnam, female board representation in listed enterprises rose to 18 percent in 2024, with 284 of 500 Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange companies having at least one woman on their board of directors.

Research consistently shows that companies with gender diversity perform better financially. According to McKinsey, firms in the top quartile for gender diversity are 25 percent more likely to achieve above-average profitability. Moreover, organizations with gender-diverse leadership teams generate higher revenue, innovation, and better business decisions – 73 percent of the time. Why? Because different perspectives lead to better problem-solving and long-term strategies. Women leaders often focus on sustainability, customer needs, and employee well-being – key drivers of business success, especially in fast-changing economies.

Diversity also boosts entrepreneurship. Startups with at least one female founder create 63 percent more value than male-led ones. Yet, in 2021, only 11.1 percent of Sweden’s investment capital went to mixed-gender teams – a missed opportunity. Increasing financial support for female entrepreneurs in Sweden and Vietnam could unlock major economic potential.

To reap the benefits, businesses must be willing to take bold and concrete actions. The growth of companies signing up to the Women’s Empowerment Principles of UN Women and UN Global Compact, which promote women's leadership in workplaces, marketplaces, and the community, has set the stage for further inclusive progress.

Leading Swedish and Vietnamese firms such as IKEA, H&M, Ericsson Vietnam, and TH Group have demonstrated that prioritizing gender balance drives success. IKEA, for instance, achieved 50 percent female representation in leadership globally by 2022. Similarly, H&M has made gender equality a priority, with women holding 72 percent of leadership roles. At Ericsson Vietnam, women now represent over 40 percent of the workforce, including executive leadership and line management, with this number continuing to rise. Meanwhile, TH Group Vietnam boasts a workforce that is 46 percent female, with women holding 30 percent of middle and senior management positions – nearly double the national average of 16 percent.

The future belongs to businesses and nations that understand the value of inclusion.

Globally, process remains slow, in 2023 women held only 23.3 percent of board seats worldwide. While gender parity in leadership may take decades to achieve, Vietnam, and other nations, can accelerate this progress by fostering female leadership in business and innovation.

Investing in women is more than just the right thing to do; it drives economic growth and sustainability. Both Vietnam and Sweden serve on the UN Women Executive Board, demonstrating their commitment to gender equality. With their strong track record, both countries have the opportunity to inspire greater action and accountability on a global scale.

This March 8th, let’s celebrate and support all women and girls as they shape a better future for Vietnam and beyond. The message is clear: Rights. Equality. Empowerment.