In the framework of a series of events celebrating the 40th anniversary of Vietnam - Finland diplomatic relations, the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Embassy of Finland in Hanoi organised a seminar titled “Investment opportunities and support tools for connectivity - trade exchange between Vietnam and Finland.” This is an opportunity for Vietnamese businesses to approach this potential market, as well as Northern Europe countries.
Addressing the event, VCCI Vice President Doan Duy Khuong noted that two-way trade has grown consistently, from US$210 million in 2011 to about US$300 million in 2012, or an increase of over 40 per cent against 2011, of which Vietnam earned US$99 million and spent over US$200 million.
Vietnam’s main exports to Finland are coffee, rubber, footwear, textile and garment, handicraft, wood products, bicycles and spare parts. Meanwhile, it imports machinery, equipment, telecommunication products, textile accessories, plastic materials, chemicals, electrical items, and steel.
On investment, Finland ranks 26th among nearly 100 foreign investors in Vietnam, with over US$336 million and eight projects. Finland-invested projects are mainly involved in industrial glue, garment, wooden products and fishing gear.
According to VCCI, Finland in particular and Nordic countries in general are known to have high-level technologies in many industries like shipbuilding, information technology, machinery, and medicine. In addition, Northern Europe is also a potential market for Vietnamese goods.
Finnish Ambassador to Vietnam, Mr Kimmo Lähdevirta said there are a lot of opportunities to do business in Finland since Vietnam - EU Free Trade Agreement negotiations are being stepped up. Therefore, Finland and Vietnam should look for new forms of cooperation.
He added that Finland has developed environment friendly technologies and forestry will be a potential cooperation area for Vietnam and Finland. Notably, the two countries can also focus on investing in energy industry and developing renewable energy sources with companies leading in conservation of energy, efficient use of energy and production of renewable energy.
In addition, the two countries can also cooperate in infrastructure, construction, mining, port services, environmental technology and raw materials.
Notably, Vietnamese businesses are very interested in Finnpartnership programme - a business matchmaking and development programme. According to VCCI, Finnpartnership programme aims to support and connect Finnish businesses with those in developing countries. The support can be granted to Finnish companies and other organisations for commercially viable, long-term activities aimed at economic cooperation in developing countries. These services are completely free for businesses in developing countries.
Benefits for registering Business matchmaking are a large database of Finnpartnership member companies. Searching is very simple and convenient as the data are categorised by industry and territory at the website address
www.finnpartnership.fi/partnersearch.
Vietnamese companies with more than one year of operation, a solid financial base and effective business plan can make free business matchmaking registration. However, according to VCCI, they need to provide the most detailed information and may enclose supporting documentations (such as latest annual financial statements, company profile, business registration and other required documents) to have better results.
Quynh Anh
Vietnamese
