Local knowledge counts for water projects in Vietnam

Econet is working to improve urban water management in Vietnam.

COO Mika Kärkkäinen has just returned from Vietnam, where he visited Econet’s previous sites and met representatives of potential projects. The country is open to new ideas, but trading requires solid local knowledge.

“Overall, the trip was very successful. The Vietnamese people are dynamic and boldly forward-looking, which makes Vietnam an extremely developing and welcoming country,” says Kärkkäinen.

As Vietnam began to open up to a market economy, water infrastructure also started to improve. The country has 700 major urban centres, where water supply and sewerage systems have been renovated over the past three decades, mainly with international funding. However, there is still work to do.

Demand for Finnish expertise

Econet has a long history of water projects in Vietnam. Since 2002, the company has been involved in numerous water supply, sewerage and wastewater treatment projects in large and small towns. These projects have introduced new technologies and provided training, which has helped to make great strides forward.

According to Kärkkäinen, who visited five cities in March 2023 and met with Econet’s past and potential customers, there is a market demand for experts with strong local knowledge and broad shoulders to take overall responsibility for implementation.

Kärkkäinen visited Dien Bien Phu, a city in north-western Vietnam near the Laos-China border. As the sign on the gate of the local wastewater treatment plant shows, Econet was the main contractor responsible for the design and implementation of the plant, commissioned in late 2019. During his trip, Kärkkäinen also identified potential projects, such as a highly modern wastewater treatment plant for a hospital.

Vietnam attracts Finnish companies

With nearly 100 million inhabitants, Vietnam is one of the fastest-growing economies in the world. Not surprisingly, the country has become Finland’s largest trading partner in Southeast Asia. The EU-Vietnam Free Trade Agreement (EVFTA) came into force in 2020, providing opportunities for Finnish companies. However, operating in the business environment requires solid local knowledge.

“Perseverance and a reliable local partner or a long-term presence are essential. Econet has built a good reputation through successful projects, and we have good contacts and a strong network for future projects,” says Kärkkäinen.

Econet’s local representatives in Vietnam are Ms Tra My and Mr Anders Nyman. In addition, Business Finland’s office in Ho Chi Minh City provides advisory services and support in finding local networks and consultants. The Finnish Embassy in Hanoi also plays an important role.