The man under arrest has no prior record and police are still searching for a motive for the killing.
The man was arrested near the Bergvik shopping centre parking lot on suspicions of murder, reports the Nya Wermlands-Tidningen newspaper.
Police received a call about the murder around 7pm and made it to the scene before an ambulance arrived.
They found a man unconscious with serious wounds to his stomach. He was taken to hospital where he died a short time later.
The victim was found lying outside a building supply store.
The shopping centre was not yet closed for the day and there were customers in the area at the time of the attack.
“We’ve spoken with a number of witnesses to the incident, but it seems as if there were very few people nearby,” said Värmland police spokesperson Sören Lövengärd.
There had been initial reports that a knife had been found, but Lövengärd told the newspaper that he didn’t know whether the knife was used in the killing.
According to Lövengärd, the stabbing most likely didn’t occur where the man was found. There are traces of blood on the edge of the parking lot and in a nearby bus shelter an abandoned bag was discovered which may a connection to the dead man.