Finland and Vietnam fosters trade links

Seeking investment opportunities and promoting Vietnam-Finland trade links were the focus of a seminar held in the central city of Danang on May 6.

Participants were briefed about the city’s socio-economic development, its business environment, policies to attract foreign investment and related regulations to support establishing partnerships between Finish and Vietnamese enterprises.

Development programmes for businesses and universities in Danang funded by the Finish government were also introduced.

The Finnish businesses presented sectors on which they are currently focusing, including clean technology solutions for water, energy and the environment, as well as education, communications, information technology (IT), imports and exports.

In November, 2011 Danang signed a memorandum of understanding (MOU) with the city of Salo in Finland to work closely together on research in high-tech, IT, communications, vocational training and other types of higher education.

However, two-way trade turnover between Danang and Finland remained modest and continuously decreased annually to stay at around US$65,000 last year.

The Danang Municipal Department of Industry and Trade and the Salo Business Centre (Yrityssalo, Ltd.) reached an agreement last December on implementing a sub-project to offer training courses for creating innovative standard systems for enterprises in Danang.

After winning first prize in the design contest for Tran Thi Ly and Nguyen Van Troi bridges in Danang, the Finnish WPS Group signed a consultative contract with the city in 2007.

In 2011, the Finish Foreign Ministry also agreed to sponsor three projects in the city worth a total of VND1.53 billion as part of the Innovation Partnership Programme (IPP).



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