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Finnish minister applauds VN growth

Date: May 06, 2004

A Finish expert visits a joint venture between Finland’s ABB Company, Japan’s Kinden, Viet Nam’s Vinaincon. The US$7 business manufactures building equipment for the Hai Van Tunnel project. — VNA/VNS Photo Cong Dien HA NOI — A Finnish delegation led by the Minister for Foreign Trade and Development, Paula Lehtomaki, is on a four-day working visit to Viet Nam to increase trade and investment co-operation between the two countries. The delegation comprises high-ranking officials and more than 20 Finnish leading companies in communication technology, pulp and paper, mechanical wood industries, energy, banking, design, finance, construction, health care, water supply and sanitation. Speaking at the Finland - Viet Nam Business Forum held in Ha Noi yesterday, Lehtomaki said Viet Nam’s robust economic growth of more than 7 per cent, together with the structural reforms of the economy currently underway in Viet Nam, provide a good basis for increasing trade and investment co-operation between the two countries. "Viet Nam’s economic growth offers excellent business and trade opportunities for Finnish partners. Finland’s strong record as Viet Nam’s long standing development co-operation partner will benefit Finnish companies in entering the Vietnamese market," Paula said. Last year’s two way trade between Finland and Viet Nam reached 80 million euros (US$95 million), of which 37 million euros was from Finland. Finland mainly exports machines, paper and wood products to Viet Nam while importing agri-products and clothing. The minister said Finland supports Viet Nam’s entrance into the World Trade Organisation as it will help Viet Nam become a more predictable and transparent trade partner for other countries including Finland. Being among the eight long-term partner countries of Finnish development co-operation, Viet Nam has so far received consultations from the European country on rural development, forestry and water industries. Finland has planned to increase the annual disbursement for poverty reduction this year to 10 million euros from 6.5 million for Viet Nam. A Finnish packaging plant was due to inaugurate in HCM City on occasion of the delegation’s visit to the city on Wednesday. —VNS

(Source: Vietnam News)

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