Fund for Local Cooperation as a tool for promoting private sector partnerships between Vietnam and Finland Mac Le Thu Hong, Embassy of Finland, Hanoi, Vietnam

Fund for Local Cooperation (FLC) Available for Finnish Embassies in developing countries Complementary to bilateral development cooperation activities Support ODA eligible projects or other clearly defned activities with clearly set objectives, which are expected to have verifiable impact on development. to have verifiable impact on development

FLC in Vietnam Started in 2003 in Vietnam The annual budget growing from (2003) € to € (currently) with a dozen of on-going projects in different areas in Vietnam. FLC Strategies ( and ) and annual plans guide FLC activities in Vietnam to have verifiable impact on development

General Objectives of FLC FLC is used to enhance the objectives of the development policy programme of the Government of Finland: + reduction of poverty; + prevention of environmental threats; + promotion of equality; democracy and human rights; and + increase of worldwide security and economic interaction. to have verifiable impact on development

Specific Objectives of FLC in Vietnam The new main objectives of the FLC in Vietnam are to promote: Human rights and good governance Sustainable development from the environmental angle Private sector partnership to have verifiable impact on development

FLC – promoting private sector partneship FLC is used for increasing cooperation between Finnish companies and the companies of the host country as well as other actors in the private sector, with the aim of generating positive impact on development in the host country: + support and supplement the Finnpartneship programme. + used for the development of the local private sector and projects. + used for promoting the exports from developing countries to Finland or other countries. + serve to promote corporate social responsibility.

What are sectoral priorities? Information Communication and Technology (ICT) Environmental and clean technology (in the broadest sense)

Who can be eligible for FLC? Chambers of commerce and commercial associations. Organizations in the areas of export and investment promotion. Businesses (in case the project in question has as little influence as possible on the local competition situation) Cooperatives. Interest groups of companies and employees.

How to appply for FLC funding? Interested organizations send a concept paper or feasibility study to the Embassy The Embassy will pre-assess the concept paper and officially asks for detail project proposal if the concept fall in the interest of the Fund The organization prepares an Aplication form and detail proposal to submit to the Embassy

How to apply for FLC funding? (Cont.) The Embassy will assess thoroughly the detailed project proposal and provide with its concrete comments for improvement of the proposal The selected proposal will be presented to the Programme Committee Meeting for approval Project Agreement will be signed to approved proposals

Supported Projects in promoting private sector partnerships ”Finland Approach Campaign” by Vietnam Software Association (VINASA): + A training course for ICT companies in Vietnam; + A business delegation of ICT companies to Finland. ” ICT business delegation’s visit to Finland” by Young Businesspeople Association of Hochiminh City (YBA)

For more information Mac Le Thu Hong-Program Coordinator Embassy of Finland 6th Floor, Central Building 31 Hai Ba Trung, Hanoi