Vietnamese, French firms forge stronger partnership

Vietnamese and French enterprises gathered at a business forum in Ho Chi Minh City on September 7 to seek measures to boost their partnerships, contributing to the sustainable development in Vietnam.

The signing ceremony of a cooperation agreement between Vietnamese and French firms on developing sustainable pig breeding in Mekong Delta region

Addressing the event, Chairman of the French Chamber of Commerce and Industry in Vietnam Nicolas Du Pasquier spoke highly of recent improvements of Vietnam’s investment environment.

He said Vietnam is a dynamic country with striking growths through three decades of renewal and has become an attractive destination of foreign investors, including those from France.

The country should continue speeding up its reform and restructuring of the economy and the banking and financial systems to tap its development potential, he said, expressing belief that the Vietnam-France future cooperation will thrive across sectors.

France is currently one of the largest European investors in Vietnam with a total investment of 3.4 billion USD. The country is the 10th biggest investor in Ho Chi Minh City with 185 projects totalling 848 million USD. Two-way trade between France and the city in the first seven months of this year reached 423 million USD.

Meanwhile, Martine Pinville, French Minister of State for Commerce, Small-Scale Industry, Consumer Affairs and the Social and Solidarity Economy, asserted that Vietnam is a country recording the strongest growth in the region.

Once the Vietnam-EU takes effect, businesses of both sides will enjoy more favourable conditions and opportunities to boost their partnerships, especially in pharmaceuticals, agriculture and food, she stated.

Pinville highlighted the high potential of bilateral affiliation, pointing to tourism and creative medical products.

According to Nguyen Thanh Phong, Chairman of the municipal People’s Committee, the city is the economic hub of Vietnam and an attractive investment destination for foreign businesses.

He pledged that the municipal government will facilitate investments, including those from France. He also called for French businesses to deepen their ties with local firms in the city.

Within the forum’s framework, a number of trade deals on agriculture and health care were signed by enterprises of both sides, including the one between French medical Sanofi Group and the Vietnam Pharmaceutical Corporation, and the other on sustainable pig breeding in the Mekong Delta region.

VNA