On October 15, at the headquarters of the Ministry of Industry and Trade, Deputy Minister Nguyen Viet Son met with Ville Tavio, Finland’s Minister for Foreign Trade and Development, to discuss measures to strengthen bilateral cooperation in trade, investment, technology, energy, and the circular economy.

The Vietnamese delegation included representatives from the Department of Foreign Market Development and Multilateral Trade, the Electricity Authority, the Agency for Industry, the Agency of Foreign Trade, and the Department of Science, Technology and Digital Transformation.

At the meeting, Deputy Minister Nguyen Viet Son affirmed that Viet Nam attaches great importance to its friendship and cooperation with Finland, highlighting Finland’s strengths and experience in technology, innovation, clean energy, and sustainable development.

In trade, the Deputy Minister called on both sides to make more effective use of the Viet Nam - European Union Free Trade Agreement (EVFTA), strengthen business connections, diversify traded products, and expand market access. The Ministry of Industry and Trade stands ready to coordinate with relevant agencies to address difficulties in implementing the agreement and facilitate trade and investment.

In science, technology, and digital transformation, Viet Nam expressed its desire to expand cooperation in research, the application and transfer of advanced technologies, particularly artificial intelligence, digital technologies, new materials, and smart manufacturing.

The Deputy Minister proposed greater exchanges of experience in data governance and the application of technology in management, production, and supply chains, alongside efforts to strengthen cybersecurity and information security for energy and industrial infrastructure.

In the energy sector, Viet Nam welcomed Finland’s experience and technological solutions and encouraged Finnish businesses to participate in the development of clean, flexible, and sustainable power sources.

Viet Nam is also interested in solutions to provide reliable, scalable, and low-emission electricity for data centers and artificial intelligence centers, in line with national plans and practical conditions.

Regarding the circular economy, the Deputy Minister praised the support provided by the European Union and the Finnish government, affirming that the Ministry of Industry and Trade stands ready to coordinate with relevant agencies and donors to advance the project Promoting the Circular Economy in the Industrial Sector. Areas of interest include policy development, strengthening business capacity, technology transfer, and scaling up production models that use resources efficiently and reduce emissions.

According to Finland’s Minister for Foreign Trade and Development, Finland places strong emphasis on strengthening trade and investment ties with Viet Nam, making the most of opportunities offered by the EVFTA, and addressing market access barriers, particularly for agricultural and food products.

In technology and investment, discussions focused on opportunities for Finnish businesses to participate in Viet Nam’s priority development areas, including clean energy, flexible power generation, smart urban transportation, digital transformation, and secure and reliable essential infrastructure. The two sides also discussed the possibility of cooperation with Finnvera, Finland’s official export credit agency, to explore financial support mechanisms for suitable projects.

In the energy sector, Finland expressed interest in Viet Nam’s implementation of its power development plan, its direction for clean energy development, and the establishment of stable and predictable electricity pricing mechanisms to support investment decisions. Demand for green electricity at data centers also presents opportunities to combine Finnish companies’ technological strengths with Viet Nam’s infrastructure development needs.

In the circular economy, Finland expressed interest in working with Viet Nam and the European Union to complete the procedures for implementing an industrial cooperation project, with the aim of signing the financing agreement on schedule and maintaining the funding commitments.

At the conclusion of the meeting, both sides agreed to strengthen coordination and make more effective use of existing cooperation mechanisms, particularly in implementing the EVFTA, promoting trade and investment, transferring technology, and advancing sustainable development.

They reaffirmed their commitment to translating cooperation potential into practical programs, projects, and activities, helping deepen economic, trade, industrial, and energy cooperation between Viet Nam and Finland and improve its effectiveness for the mutual benefit of both countries.