Vietnam is an increasingly attractive business destination due to its rapid economic growth, strategic location in Southeast Asia, and favorable business environment with government incentives and a stable political climate. The country offers a growing consumer market, competitive manufacturing costs, and a strong export sector, making it a key player in global supply chains. Vietnam’s emerging tech scene and rich cultural heritage further enhance its appeal, providing businesses with opportunities for growth, innovation, and cultural engagement in a dynamic and expanding market.

Vietnam's green transition journey involves significant progress in renewable energy, particularly in solar and wind power, and a strong commitment to reducing carbon emissions, with a pledge to reach net-zero by 2050. However, challenges like coal dependency, grid infrastructure, and environmental pollution remain. To further advance this transition, Foreign Direct Investment (FDI) is crucial in areas such as clean technology, renewable energy projects, and infrastructure modernization. Finnish expertise in renewable energy, green buildings, construction, and circular economy solutions offers an excellent fit for addressing Vietnam's remaining challenges.

Smart Solutions in Infrastructure

The Philippine government's continued emphasis on infrastructure development opens the door for Finnish smart solutions. Transport infrastructure, such as airport and port modernization are some of the key priorities. Opportunities abound in smart building and planning, sustainable mobility, open data, circular economy practices, and energy transition technologies.

Digitalization and Cybersecurity

Digitalization is rapidly gaining momentum in the Philippines, with increasing awareness of cybersecurity needs. The Philippine government, under President Marcos Jr., is prioritizing the digitalization of public services and expanding citizens’ access to digital tools. This focus presents numerous opportunities for Finnish companies, particularly in sectors like government digitalization and transport systems, including port modernization.

However, cybersecurity remains a critical issue. The Philippines is particularly vulnerable to cyberattacks due to widespread internet use, limited cybersecurity awareness, and underdeveloped cybersecurity infrastructure. There is a substantial need for improvements in this field, presenting significant opportunities for Finnish expertise.

Opportunities with global initiatives - Asian Development Bank and EPC infrastructure

The Asian Development Bank, headquartered in Manila, offers untapped potential for Finnish companies. Powerful local EPC operators are going to start soon significant airport and seaport construction for which Finland has very good solutions to offer.

Sources: Business Finland, Vietnam; Embassy of Finland in the Philippines