Finland provides 100 mln USD for public sector investment in Vietnam
Finland will provide more than 100 million USD for public investment projects in Vietnam, starting from 2021, under a bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) backed and guaranteed by the Finnish Government.
The signing of the bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) between Vietnam and Finland takes place on January 21. (Photo: Embassy of Finland in Hanoi)
Hanoi (VNA) – Finland will provide more than 100million USD for public investment projects in Vietnam, starting from 2021, under abilateral Framework Agreement on the use of Public Sector Investment Facility(PIF) backed and guaranteed by the Finnish Government.
The signing took place on January 21 after several rounds ofnegotiations between the governments. The signatory from the Vietnamese sidewas Deputy Minister of Finance Tran Xuan Ha and from the Finnish side wasFinnish Ambassador to Vietnam Kari Kahiluoto.
The PIF supports the public sector investments in developingcountries in line with the Sustainable Development Goals of the UN andutilise Finnish expertise and technology. It supports investment projects insocial services provision, such as water supply, environmental sanitation,environment protection, climate change response, energy, and clean technology.
In a pre-recorded remark, Finnish Minister for DevelopmentCooperation and Foreign Trade Ville Skinnari said he expects with the PIF,Vietnam will have additional public funding while companies from Finland withyears of experience, expertise, and suitable technology solutions can gain broaderaccess to the Vietnamese market.
The implementation of the agreement will play a vital partin nurturing the long-term and effective partnership between Finland andVietnam, the minister said.
Vietnam and Finland has established diplomatic ties morethan five decades ago. Two-way trade has increased four times over the last10 years. Thousands Vietnamese students are pursuing education in Finland./.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
The signing of the bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) between Vietnam and Finland takes place on January 21. (Photo: Embassy of Finland in Hanoi)
