Vietnam provides new market opportunities for Finnish companies
Since Finnpartnership’s founding, Vietnam has been among the most popular target countries for Finnpartnership-supported projects. For the last 20 years, there has been in total 195 Finnish companies’ projects in Vietnam that have been granted Business Partnership Support, making it the second most popular target country after India. The most popular sectors for the projects have been ICT, environment, energy, forestry and paper, and educational services.
Also this year, opportunities remain for Finnish companies seeking to establish or expand their presence. The Vietnamese government’s national strategy for attracting foreign direct investment (FDI) identifies six key sectors poised for growth:
- High technology and digital transformation,
- Smart manufacturing and advanced processing
- Renewable energy and green economy
- Pharmaceuticals, medical devices and biotechnology, and
- Education, tech training and high-value services
To further incentivise FDI, Vietnam offers a variety of policies, including tax exemptions, reduced land lease fees, and streamlined administrative processes. Vietnam is committed to modernising its economy and fostering a green, low-carbon development path. The recent EU-Vietnam Free Trade Agreement has enhanced trade relations and investment potential, providing a strong foundation for Finnish businesses looking to enter this vibrant market with a young and rapidly growing population that has just surpassed 102 million.
The EU’s Global Gateway strategy together with the Just Energy Transition Partnership play a pivotal role in supporting Vietnam’s ambitions by directing resources toward clean energy transition and sustainable infrastructure initiatives. This creates new opportunities for Finnish energy technologies and expertise. Additionally, the EU’s SWITCH-Asia Programme promotes sustainable business practices in Vietnam, offering support for projects that focus on resource efficiency, sustainable production, and green technologies. This framework helps companies align with Vietnam’s sustainability goals while facilitating their market entry.
I am dedicated to helping Finnish companies navigate the exciting opportunities in Vietnam. I work from Vietnam to offer one-to-one consultations, market insights, and connections with local partners, including international organisations. Finnpartnership’s ODA piloting serves as a touchpoint for building meaningful partnerships with major international organisations, including UN agencies and global NGOs. With the Business Partnership Support, Finnish companies can pilot their existing technologies or services directly within these organisations’ operations in real-world conditions. In this newsletter, you can read about a new collaboration opportunity with World Vision Timor-Leste. Companies interested in the ODA piloting or in general the market of Southeast Asia are warmly welcome to contact me.
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