Finland opens door to Bhutan for business

Business News

Finland has opened door to Bhutan for business partnership in education, agriculture, Information and Communication Technology (ICT), and infrastructure solution (green energy).

A seminar was conducted involving local companies and 20 companies from Finland represented by Ambassador of Finland HarriKamarainenon Wednesday in Thimphu.

The seminar aimed to lower the barrier for both the Finnish and local companies to engage in international business while encouraging them to find new collaboration and business opportunities. 

“It is aimed at creating broad linkage with both countries to do matchmaking in the interested businesses,” said Secretary General of the Bhutan Chambers of Commerce and Industry (BCCI), Sangay Dorji.

On the education sector, the discussion was on collaboration on the exchange program for students while in agriculture sector, it will look into farming system and agriculture cattle feed preservation method over winter.

Additionally, in ICT, the collaboration would be in Geographic Information System and analysis for natural environment and forestry, and digital education platform, among others. The infrastructure collaboration would look into economic housing solution, power grid solutions for hydro projects, log houses, and saunas.

The grant from the Finnish companies for long-term business partnerships in the emerging markets are 50, 70 or 85% for small and medium enterprises and 30, 50 0r 85% for large companies.

As an effort towards boosting trade relation, the first seminar in the country was organized on March 30, 2017 in Thimphu. The two countries discussed about exploring trade and investment opportunities in areas of tourism, hydropower, textiles, and education, among others.

Meanwhile, the seminar “Doing Business with Finland” was organized by the BCCI in collaboration with Finn-partnership,a Finnish government funding agency which facilitates and fund business partnerships and investments.

Bhutan and Finland have diplomatic relationssince May 1, 1998. However, no substantial trade happened between the two countries.

The “Doing Business with Finland” seminar was incepted since 2007 and it usually leads to dozens of promising business discussions and partnerships getting started.The events are all about matchmaking and making new business contacts between Finnish and the local companies.

Finn-partnership organizes around 10 such seminars each year all over the world, mainly in Africa and Asia.

Thukten Zangpo from Thimphu

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