Vietnamese and French businesses seek to boost cooperation

The event hosted was part of activities to mark the 50th anniversary of diplomatic ties, and the 10th year of the Vietnam-France strategic partnership.

The Vietnam-France Business Forum on April 15

It was hosted by Hanoi People's Committee from April 13-16, with support from Vietnam’s Ministry of Foreign Affairs, France’s Ministry of Europe and Foreign Affairs, embassies from both countries, and the Association of French Localities.

Themed "The driving force for sustainable and comprehensive recovery and development after the COVID-19 pandemic,” the event attracted 50 localities in Vietnam and 12 localities of France, as well as many state and private organisations.

Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen said the forum was an opportunity to connect the authorities of the cities, investors and businesses of Vietnam and France to discuss implementing investment and business activities in Vietnam.

“The forum also creates an opportunity for parties to exchange ideas, initiatives, and solutions to improve mutual understanding, cooperation, investment, and contribute to traditional friendship; strengthening existing relationships, and at the same time, expanding exchanges and cooperation between new Vietnamese and French local partners,” he added.

Vietnamese Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said, “Vietnam is an active and responsible member of ASEAN, the Asia-Pacific region (APAC). France is a key member of the European Union. Vietnam and France are both members of the Francophone community as well as participating in the Vietnam-EU Free Trade Agreement. These are important legal foundations and frameworks for the two sides to expand cooperation.”

“Vietnam prioritises attracting quality FDI in association policies to support investment in science and technology, and improve production capacity to meet and participate in the global supply chain, especially in high technology, innovation, green energy, and renewable energy,” she said.

At the forum, participants focused discussion on sustainable cities; environment, water and water treatment; culture, heritage, tourism, smart cities, and digitisation.

Vietnamese provinces like Lam Dong, Thai Nguyen, Binh Dinh, and Quang Ngai held meetings with French localities and businesses to discuss cooperation opportunities in waste water treatment, agriculture, and tourism.

Hanoi and Toulouse signed a cooperation agreement

In particular, Hanoi and Toulouse signed a cooperation agreement at the event. At the closing ceremony of the conference, representatives of the Hanoi People's Committee and the Councillor of the Nouvel Anquitaine Region announced a joint statement.

The Vietnam-France cooperation conference is the only regular exchange between Vietnamese localities and other countries, taking place every three years. It is an opportunity for localities of the two countries to meet, exchange on the topics of mutual interest, and promote cooperation in economy, culture, education, urban and environment.

The conference has been held every two or three years since 1996, with Vietnamese and French localities taking turns to host the event. It is a chance for both sides to discuss difficulties, evaluate the results in bilateral relations, and deliver feasible solutions to foster their partnerships, thus strengthening diplomatic ties between the two countries.

Businesses and authorities of the two sides at the forum

According to Vietnam’s Ministry of Planning and Investment, French investors came to Vietnam very early on with projects like the Metropole Hotel, the France Telecom telecommunications project and later the Vietnam-France Friendship Hospital.

France's total registered investment capital in Vietnam has reached over $3.8 billion, ranking 16^th out of 143 countries and territories investing in Vietnam. French enterprises have been present in 36 localities in Vietnam such as Ho Chi Minh City, Hanoi, and Ba Ria Vung Tau. Meanwhile, Vietnam invested in France with the total capital of over $73 million.

Bilateral trade in 2022 reached $5.33 billion, of which, the export turnover of Vietnam to France will reach $3.7 billion and the import turnover of Vietnam from France reached $1.63 billion.

50 years of French relations In 2023, France and Vietnam will celebrate the 50th anniversary of diplomatic relations and 10 years of strategic partnership. This is a good opportunity to look back and assess what our two countries have accomplished in trade and investment and reflect on ways to further develop our economic exchanges.

French groups keen to back green schemes Sustainable green development and expanding investment links between France and Vietnam are being highlighted as the two countries celebrate the 50th anniversary of diplomatic relations and 10 years of strategic partnership this year.

France trailblazing in sustainable development The Indo-Pacific region, particularly nations like India and Vietnam, is becoming an engine for French economic growth in terms of green, sustainable, smart cities and semiconductor development.

French influence increases as Vietnam calls for EVIPA payoff Vietnam is working with France on new plans to expand bilateral investment cooperation, with the latter to soon adopt the EU-Vietnam Investment Protection Agreement, which will help facilitate investment flows.

Vietnam a potential market for French businesses, investors: experts French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.