Finland provides Vietnam with $ 100 million for public sector investment

The signing of the bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) between Vietnam and Finland. Photo: Embassy of Finland in Hanoi

After several rounds of negotiation, it’s been agreed that Finland will provide $ 100 million for public sector investment in Vietnam.

Signed by Tran Xuan Ha, Deputy Minister of Finance, and Kari Kahiluoto, Finnish Ambassador to Vietnam on 21 January, Finland will under a bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) backed and guaranteed by the Finnish Government, provide more than US$100 million for public investment projects in Vietnam, starting this year.

According to the Sustainable Development Goals of the UN and the utilization of Finnish expertise and technology, the PIF supports public sector investments in developing countries. Ville Skinnari, Finnish Minister for Development Cooperation and Foreign Trade has previously said that with PIF he expects Vietnam to receive additional public funding, and experienced Finnish companies with expertise and suitable technology solutions can gain wider access to the Vietnamese market.

Vietnam and Finland hold long-established diplomatic ties, two-way trade has increased dramatically over the past decade and thousands of Vietnamese students are exploring education in Finland.

Source: Saigon Online

About Mette Larsen

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

View all posts by Mette Larsen

Leave a Reply

Your email address will not be published. Required fields are marked *