HANOI, Feb. 18 (Xinhua) -- Finland's investment in Vietnam will be much easier after the two countries sign the first-ever investment protection framework, scheduled for this week.

    The Agreement on Investment Promotion and Protection between Vietnam and Finland, the highest-level legal document on promoting and protecting Finnish-invested projects, is expected to be signed on Feb. 21 during Finnish President Tarja Halonen's first state visit to Vietnam from Feb. 20-23, according to local newspaper Vietnam Investment Review on Monday.

    Accompanied by the president will be a 16-member business delegation with corporate officials from such global companies as Nokia, KONE, Wartsila, Metso and Finn Air.

    The amendment of the memorandum of understanding on air traffic agreement between the two governments, also scheduled to be signed during her visit, will enable the two national flag carriers to study the possibility of opening direct flights between Vietnam and Helsinki, facilitating Finnish investment not only in heavy industries, tourism and education, but also labor cooperation with Vietnam, the newspaper said.

    "We have had initial discussions with Vietnam Airlines on the possibility to enter into some form of commercial cooperation," said Petteri Kostermaa, vice president of Finn Air's Network Strategy and Commercial Division.

    Investment and trade between Vietnam and Finland are still modest. In 2007, Vietnam exported 110.3 million U.S. dollars worth of commodities to Finland, and spent 66.5 million dollars importing Finnish goods, the newspaper said.