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Hue and Da Nang in Vietnam offer many possibilities for Finnish companies

In May the Embassy of Finland in Vietnam arranged two business seminars in central parts of the country in order to promote business cooperation between our countries. Over one hundred local companies took part in these meetings. In speeches one could hear strong political will and genuine desire to create more business contacts between Finland and Vietnam. Common interests can be spotted in forestry, timber harvesting, ICT, textile industry, fishing industry and tourism. Hue and Da Nang are located in forested mountain area in the west coast.

Hue’s assets are tourism and strong craftsmanship

From the viewpoint of tourism Hue is undergoing exciting moments: the price level is still very low compared to the level of services, safety, pleasantness and attractiveness of the area. Hue offers history and culture as well as beach and restaurants. In the partly renovated former Forbidden City (ancient capital) one can experience the mystical and luxurious life of Far East court as well as see the marks of brutality of the Vietnam War.

In Hue area, craftsmanship is top of the country. Quality products and considerably low price level can offer interesting possibilities for Finnish textile and interior design businesses.

Da Nang offers significant benefits for ICT companies and great setting for tourism

Da Nang is the third largest city in Vietnam, and especially the ICT-sector has grown rapidly. The city offers several significant advantages to software companies such as freedom from value added tax (VAT) and freedom from corporate income tax for first four years as from the year generating taxable income. After that the companies can operate with 50% reduction of corporate income tax up to nine years. Also the import customs is minimal.

The area of Da Nang has invested strongly in providing services and infrastructure for ICT-sector. There are two full service ICT-parks, which offer premises and services (high-speed Internet access, virtual private network, server colocation, dedicated server, web/email hosting, domain name, cloud computing, etc.) for starting businesses. In Vietnam, starting a new business especially in a software park has many advantages such as land lease rate reduction, human resource training support, software export support and trade promotion support, etc. For more information regarding these ICT parks, please follow the links below:

Da Nang Software Park: www.dsp.vn
Da Nang IT Park: www.danangitpark.com

The youthful city of Da Nang has 3 universities and several other educational institutions, which provide educated employees for new companies. About 2000 students graduate in ICT every year in Da Nang and surrounding areas.    

For tourists Da Nang offers a metropolitan atmosphere of Far East yet not being too big of a city. In the evening dusk one can admire the lush colored lights of the bridges crossing the Han River from a terrace of a skyscraper. In the morning one can head to the miles long white beach, which  is known as BAC MY AN Beach.

Finnish company can apply for Business Partnership Support from Finnpartnership in order to investigate long term business possibilities in Hue and Da Nang and to train local staff. The contact information of the Vietnamese companies who participated in the seminars is available through Finnpartnership: birgit.nevala[at]finnpartnership.fi

Published 07.06.2013