Minister of Industry and Trade Nguyen Hong Dien recently held a working meeting with the Finnish Ambassador to Vietnam and Finnish business to outline an orientation to strengthen cooperation in trade, industry and energy between the two countries.
At the meeting, Minister Nguyen Hong Dien hailed the fruitful bilateral cooperation along with the potential for great advantages in economic and trade relations and welcomed Finnish business for actively engaging in this process as a means of promoting two-way trade growth and economic development of both countries.
On this occasion, the Finnish ambassador to Vietnam expressed his desire to support Finnish business in expanding investment cooperation in the Vietnamese market in various fields, especially energy.
The ambassador presented Wärtsilä as a leading enterprise in Finland in the field of energy transition, with solutions for flexible domestic. Internal combustion engine (ICE) power plants that have been implemented in many places around the world.
The President and CEO of Wärtsilä Corporation Håkan Agnevall presented in detail the ICE flexible energy technology that the group owns and informed the Minister about the cooperation situation with Power Generation Corporation 3 (EVN GENCO3) and expressed his desire to explore, invest and implement a Flexible ICE power in Ninh Binh province with Vietnamese partners.
Also during the working session, Minister Nguyen Hong Dien praised the recent cooperation activities in terms of project implementation between Wärtsilä Group and EVN GENCO3.
Vietnam is an ideal destination for foreign investors, as it is among the 15 countries with the best environment to attract FDI and is always one of the 20 countries with the largest trade scale in the world, while the annual economic growth rate is always is maintained at a high level, the minister told his guest.
Dien shared the guidelines for developing energy sources in Power Plan VIII to achieve Vietnam’s goal of carbon neutrality by 2050 and industrialization and modernization goal by 2030 with a vision to 2045.
He reviewed the process and procedures for the participation of foreign investors in domestic energy projects.
Thus, the minister asked Wärtsilä Group and EVN GENCO3 to carefully research and study so that they can come up with a feasible plan that ensures socio-economic efficiency.
The President of Wärtsilä Corporation accepted the minister’s views and promised to have a detailed study and report on the project to be submitted to the Ministry of Industry and Trade and the competent agencies for consideration. He also reaffirmed his orientation and commitment to long-term investment in the Vietnamese market, while supporting Vietnam’s energy transition roadmap.
As for the wider cooperation activities between Finland and Vietnam, the minister suggested that the Finnish ambassador should start a wide range of specific activities to encourage more Finnish businesses to cooperate with Vietnamese counterparts to realize important projects in the near future, such as thus contributing to the cooperation and development of both countries.
Echoing Dien’s views, the ambassador promised to continue to attract large Finnish companies to Vietnam to explore opportunities for investment cooperation in the future, setting the stage for further deepening Vietnam-Finland diplomacy that has spanned more than 50 years ( 1973 – 2024).
