Finland in vietnam – an introduction

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Presentation at Vietnam Open for Business seminar, Mar 13 2014.

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Finland in vietnam – an introduction

  1. 1. Ambassador Kimmo Lähdevirta Finland in Vietnam – an introduction Vietnam
  2. 2. Why this seminar? 2
  3. 3. – We want to create a spark! – Last year: Business Partnership Seminars in 11 cities around Vietnam with the aim of finding willing and able Vietnamese companies – This year: Raise interest among Finnish companies and institutions in order to establish partnerships, enter markets, invest etc. – We need the joined up and sustained efforts of the whole Team Finland – including companies and institutions! 3
  4. 4. Why Vietnam? 4 Because both countries need it and there are good business opportunities!
  5. 5. – Strategically located in South East asia next to China and close to important sea routes – Developing towards becoming the next manufacturing hub 5 Vietnam – In addition to trade liberalization, EU-VN FTA, TPP and other trade agreements expected to improve also business environment – Economy growing steadily at 5-6 % per year, in growth centres around 10 % (Hanoi and HCMC with surrounding areas, Danang) – Young population (2/3 under 35), growing middle class, low labour costs (10 % less than China) => Great potential for marketing, production and outsourcing!
  6. 6. Why Finland and Vietnam? 6 – Many Finnish companies possess the kinds of products and services that Vietnam needs. Vietnam also has products to offer Finland – Finland and Finns have a good reputation in Vietnam, build up during decades of development cooperation – At the moment concessional credits worth €90 million and bilateral projects worth €22 million: water and sanitation (WSPST III); forestry (FORMIS II); innovations (IPP II) – Programs will end around 2017/2018 => we are in a transition phase = time to seize the opportunity!
  7. 7. Trade between Finland and Vietnam is growing, but still modest – About 80-100 Finnish companies in Vietnam – Trade figures according to Finnish Customs in 2013: Finnish exports €89 million (+20%) + imports €136 million (-1,4 %) = €225 million (+6%) – Finnish exports mainly machines and appliances, forestry products; imports mainly shoes, furniture, clothing and textiles, ICT and office appliances – But also other things: manufacturing (Nokia, Huhtamäki, Niemen tehtaat...), direct flight route between Hanoi and Helsinki (Finnair and Nordic Global Airlines), financing, services, software outsourcing etc... 7
  8. 8. What Team Finland Vietnam is and what it can do for you? 8
  9. 9. Team Finland Vietnam – Chairman: Ambassador Kimmo Lähdevirta – Coordinator/Contact Person for North (Hanoi): Deputy Head of Mission Annina Barbosa (annina.barbosa@formin.fi) – Contact Person for South (HCMC): Finpro Country Director Eija Tynkkynen (eija.tynkkynen@finpro.fi ) – IPP II Chief Technical Advisor Lauri Laakso – Water and Sanitation Program CTA Hannu Vikman – FORMIS II CTA Tapio Leppänen – Embassy and Finpro staff members 9
  10. 10. Services: – Gather and share information – Increase the visibility of Finland, Finnish knowhow, companies and institutions – Promote partnerships between Finnish and Vietnamese companies and institutions (remember also IPP, Finnpartnership and Vietnam Chamber of Commerce and Industry VCCI) – Assist Finnish companies and institutions by prestige services and other practical means Just get in touch with a Team Finland contact person and ask – you are not alone in Vietnam! Team Finland Vietnam’s main goal: create favourable conditions for a successful transition from development cooperation to economic and other forms of wider cooperation 10
  11. 11. But we cannot succeed without you! 11

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