Vietnam-France economic forum focuses on strategic cooperation

The ninth session of Vietnam-France high-level economic forum taking place at the headquarters of the MoF. Image source: Duc Minh

A Platform for reviewing and discussing strategic cooperation

The meeting was co-chaired by Deputy Minister of Finance Tran Quoc Phuong and Magali Cesana, director general of the Department for Bilateral Affairs, Internationalization of French Enterprises, and Foreign Investment under the French Treasury.

Deputy Minister Phuong stated that the annual high-level economic dialogue offers an important opportunity for both sides to review and exchange views on key issues of mutual concerns, thereby strengthening and deepening bilateral cooperation, especially in the context of a rapidly changing global and regional political-economic landscape that directly impacts bilateral collaboration.

The Vietnamese delegation included representatives from the Government Office, ministries, the State Bank of Vietnam, and Hanoi People's Committee, all of which maintain close cooperative relations with France.

Deputy Minister Phuong said, “With continued close and effective collaboration, economic and financial cooperation between France and Vietnam will grow stronger and more substantive, contributing significantly to linking the two economies.”

During the dialogue, both sides discussed topics including macroeconomic developments in Vietnam and France, trade, investment, development cooperation and financing, and sectoral collaboration in transportation, energy, agriculture and the environment, finance, and banking.

Discussing Vietnam's macroeconomic situation, Phuong highlighted the country's notable socioeconomic achievements amid complex and unpredictable global developments.

Vietnam's economy has proven resilient to external shocks, maintaining one of the highest growth rates in the world. GDP in 2025 is projected to grow by over 8 per cent. The economy's size is expected to expand from $346 billion in 2020 to $510 billion in 2025, rising five ranks to 32nd globally. GDP per capita is estimated to reach around $5,000, 1.4 times higher than in 2020, placing Vietnam in the upper-middle-income group. Economic structure and growth quality have also improved significantly.

Macroeconomic stability has been maintained; inflation remains below 4 per cent, and key economic balances are secured. The foreign exchange market is stable. Public debt has decreased from 44.3 per cent of GDP in 2020 to about 35-36 per cent in 2025 (well below the 60 per cent ceiling).

International institutions have commended Vietnam's economic management and growth prospects. The International Monetary Fund (IMF) ranked Vietnam among the top 10 fastest-growing economies worldwide, and Standard Charter forecasted Vietnam among the top five fastest-growing economies in Asia.

Phuong emphasised, “Vietnam is at a pivotal moment, formulating major strategies for the 2026-2030 period, in which public investment will serve as a key driver of growth. Priority will be given to strategic infrastructure projects in energy, transport, digital transformation, green transition, and sustainable urban development, aiming for double-digit annual growth over the next five years.”

From France’s view, Cesana congratulated Vietnam on its achievements and declared France’s commitment to continued partnership, contributing to closer ties between the two economies.

Promoting practical cooperation across multiple sectors

Affirming that France is a key partner in Vietnam’s foreign policy, Deputy Minister Phuong highlighted some priority areas for future collaboration.

They agreed to further implement the EU-Vietnam Free Trade Agreement effectively, encourage French investment in Vietnam’s priority sectors such as sustainable development, renewable energy, high technology, transport, infrastructure, and agriculture, and urged France to ratify the EU-Vietnam Investment Protection Agreement soon.

He noted that Vietnam’s demand for development financing in the coming years is enormous. The Vietnamese government is improving the legal framework for the mobilisation and use of official development assistance (ODA) and concessional loans, ensuring transparency and efficiency.

“Vietnam seeks the continued support of international partners, especially France, a country with advanced technology and a long tradition of development cooperation,” Phuong said.

In terms of sectoral economic cooperation, both sides agreed to closely coordinate in implementing signed agreements, ensuring progress and efficiency, while exploring new collaboration opportunities in energy, finance, and banking.

Cesana expressed agreement with Vietnam’s cooperation proposals, affirming that France will continue to support and share expertise with Vietnam in its areas of strength.

Both sides underscored that, despite global economic and geopolitical uncertainties posing challenges to ongoing programmes and projects, with the determination of the Vietnamese government and ministries, and the support of the French government and its partner institutions, economic and financial cooperation between Vietnam and France will continue to develop strongly and substantively, further linking the two economies.

France remains one of Vietnam’s earliest and largest providers of ODA and concessional loans, primarily through the French Treasury and the French Development Agency. French-funded projects span across Vietnam and multiple sectors.

Currently, Vietnam is France's second-largest trading partner in ASEAN, while France is Vietnam's fourth-largest trading partner in the EU. As of now, France has over 700 ventures in 16 economic sectors in Vietnam, with total registered capital of about $4 billion, ranking 16^th among 151 countries and territories investing in Vietnam. On the contrary, Vietnam has 22 projects in France with total registered capital of about $40 million.

The Vietnam-France High-Level Economic Dialogue is an annual intergovernmental forum, co-chaired by the Vietnamese MoF (formerly the Ministry of Planning and Investment) and the French Ministry of Economy, Finance, Industrial and Digital Sovereignty. It alternates yearly between the two countries and was established to discuss and promote bilateral cooperation needs across key sectors of mutual interest.

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