French investors urged to increase commitments in Vietnam

November 05, 2018 | 14:05
French investors have been urged to ramp up investment in Vietnam to capitalise on one of Asia's fastest-growing economies.
french investors urged to increase commitments in vietnam
Representatives of France and Vietnam shared their thoughts at the panel entitled "New ambitions in Vietnam"

The information was stressed at The France-Vietnam Business Forum 2018 held in Ho Chi Minh City yesterday. The forum was an opportunity for exchange between French and Vietnamese companies to find solutions and partnerships in order to fulfil their new ambitions in Vietnam. The event saw the participation of more than 200 French and Vietnamese companies.

Henri-Charles, chairman of the Chamber of Commerce and Industry France-Vietnam (CCIFV), said that Vietnam will witness miraculous growth so French companies are urged to accelerate investment to avail of new business opportunities in the country.

He noted that South Korean and Japanese investors have already secured a strong presence in the market. CCIFV would like to accompany Vietnamese firms to deepen partnership with French businesses.

Gerald Darmanin, Minister of Public Action and Accounts, lauded Vietnam’s extensive integration and high economic growth in the past 30 years. Vietnam is increasingly opening its doors to European countries, thus, more French businesses, including large corporations and small and medium-sized enterprises (SMEs), will invest in Vietnam in the coming time.

He highly appreciated the quality of Vietnamese companies and noted that the commitments to developing economic and trade partnerships are expected to be realised during the upcoming visit of the French President at the beginning of 2019.

According to François Corbin, chairman of the Medef delegation, this is the 13th French business delegation paying a working visit to Vietnam in 2018.

"Vietnam is going to welcome a new era of development with tremendous business opportunities for French businesses to implement their next phase of development. I believe French businesses are likely to achieve success by teaming up with Vietnamese firms."

With the country's huge potential and strong economic growth, French food company Adros has made a long-term commitment to invest in Vietnam. Valentin Tran, the firm's general director, said that Adros selected Vietnam as its investment hub in the region due to the country's large population and high purchasing demand. The group plans to tap into the domestic consumption market and later expand to neighbouring countries.

The France-Vietnam Business Forum was organised by CCIFV in co-operation with the French Embassy in Vietnam, the Consulate of France in Vietnam, the Conseillers du Commerce extérieur de la France (CCE – French Trade advisors), as well as Business France and Medef International.

The forum was one of several initiatives held in parallel with the official visit to Vietnam by French Prime Minister Édouard Philippe on November 2-4.

The French prime minister visited Vietnam on the occasion of a double anniversary: 45 years of diplomatic relations and 5 years of strategic partnership between France and Vietnam. The year 2018 marks an unprecedented strengthening of ties between the two countries, as evidenced by high-level visits, particularly after the visit of the Secretary General of the Vietnamese Communist Party in France.

By Thanh Van

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