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Doing business in Finland and the Nordic countries, 21st of November 2012, Hanoi, Vietnam

Finnpartnership, together with the Embassy of Finland in Vietnam and Vietnam Chamber of Commerce and Industry (VCCI), organized a seminar under the heading "Doing business in Finland and the Nordic countries" on November 21st, 2012, in Hanoi.

Finland as a target market was presented as was the industries and services that might be of interest to Vietnamese companies. If you are interested in doing business with Vietnamese partners, please contact VCCI (www.vcci.com.vn), the Embassy of Finland in Vietnam, or Finnpartnership.

Approximately 50 Vietnamese business people participated in the seminar and the seminar was broadcasted in the local news.

The Vice Executive President of VCCI, Dr. Doan Duy Khuong, opened the seminar. Among other things, it was mentioned that Vietnam's foreign trade has been growing fast since state controls were relaxed in the 1990s. The country imports machinery, petroleum products, electronics, fertilizers and steel, and exports crude oil, textiles and garments, rice, coffee, rubber, coal and processed forest products. On a balance-of-payments basis, exports totalled US$ 96.9 billion in 2011, up from US$ 72.2 billion in 2010, while the import bill rose to US$ 97.4 billion from US$ 77.4 billion the previous year. Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. Its trade with the Asian economies constitutes approximately 80 percent of its total trade.

It was noted that Finland has had an Embassy in Vietnam since 1973 and that Finland has cooperated with the government of Vietnam as well as the different institutions and the private sector in Vietnam for a long time. Finland and Vietnam will celebrate the 40th anniversary of diplomatic relations next year. Since the physical distance between the two countries is large, some instruments have been created to ease the cooperation and businesses between Finland and Vietnam. Counsellor Mr. Janne Sykkö gave a short introduction to the instruments such as the Concessional Credits, the Mekong Energy and Environment Partnership Programme (EEP), the Finnpartnership programme, the Innovation Partnership Programme (IIP), and the fund for local cooperation.

More information on these instruments can be found at www.finland.org.vn

At the seminar, Finnpartnership gave a thorough presentation on its mission and services (please view www.finnpartnership.fi/www/en/matchmaking/index.php for further information), and CTA Lauri Laakso introduced the Innovation Partnership Programme (IPP). The IPP programme started its actual operation in 2010. The programme works with companies, public authorities and knowledge producers like universities and research institutions in order to increase innovation activities in Vietnam. Partnerships between Vietnamese and Finnish institutions are encouraged. The tools for producing innovations for the local market include strategy work, capacity building, knowledge brokerage, as well aspromoting and financing the use of experts and partnership building. IPP is financed jointly by the governments of Vietnam and Finland. At the moment, there are around 30 companies working with IPP.

More information about IPP can be found at www.ipp.gov.vn

Published 12.12.2012