Vietnam expected Finland to soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and encourage Finnish firms to expand investment activities in the country in priority fields, including hi-tech, telecommunications, renewables, and environment.

Deputy Prime Minister Pham Minh Binh and Finnish Ambassador to Vietnam Kari Kahiluoto. Photo: Hai Minh

Deputy Prime Minister Pham Minh Binh made the view in a meeting today [July 15] with the outgoing Finnish Ambassador to Vietnam Kari Kahiluoto.

Given the strong progress of bilateral relations, Minh called for greater cooperation between the two countries to tap into the potential of the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020, as well as ratifying the EVIPA.

Minh requested Finland to continue supporting the Vietnam-EU comprehensive partnership.

“For its part, Vietnam is willing to serve as a bridge to promote relations between Finland and ASEAN,” he continued.

According to Minh, both Vietnam and Finland have signed a framework agreement for public projects in Vietnam to access concessional loans from the Nordic country’s Public Sector Investment Facility (PIF) scheme, saying this would contribute to Vietnam’s socio-economic development.

Meanwhile, educational cooperation between the two countries has seen strong progress, creating favorable conditions for Vietnamese students studying in Finland.

“Finnish educational model is being adopted at the Vietnam-Finland International School under Ton Duc Thang University,” he informed.

At the meeting, Kahiluoto informed the Finnish government has approved a report evaluating Vietnam’s transitional process in June 2021, which marks the shift in cooperation mechanism between the two countries from aid support to fair cooperation with mutual benefits.