Efforts Made to Boost Trade, Investment Cooperation between Vietnam, France

France has major advantages in various areas which are also those prioritized by Vietnam in its FDI attraction policy, said Vietnamese Ambassador to France Dinh Toan Thang at a seminar in Paris on June 23
June 25, 2022 | 06:44
Efforts Made to Boost Trade, Investment Cooperation between Vietnam, France
At the headquarters of the Paris Chamber of Commerce (CCI), a seminar to promote trade and investment cooperation between Vietnamese and French businesses took place.

Co-presided over by Vietnamese Ambassador to France and President of the French Chamber of Commerce and Industry in Vietnam (CCIFV) Thibaut Giroux, the June 23 seminar aimed to promote trade and investment between Vietnam and France.

It also saw the presence of French Consul General in Ho Chi Minh City Emmanuel Pavillon Grosser and representatives from nearly 80 companies and investors from both sides.

In his remarks, Vietnamese Ambassador Dinh Toan Thang highlighted Vietnam as one of the fastest-growing and most dynamic economies in ASEAN, saying the Government of Vietnam has been persistently improving legal framework to attract French investors in the fields of mutual interest, particularly hi-tech industries and those promoting sustainability and environment protection.

The diplomat described the EU-Vietnam Free Trade Agreement (UVFTA) as a landmark trade deal providing a stable and long-term framework for trade, economic and investment cooperation between Vietnam and the EU, including France.

The two countries will celebrate the 50th anniversary of the bilateral diplomatic relations and the 10th year of their strategic partnership in 2023, and Thang expected the Vietnam-France economic ties will see strong breakthroughs in the coming time, with more and more French enterprises selecting Vietnam as a destination for investment.

According to the ambassador, France is currently Vietnam’s second biggest investor in the European Union (EU) with a total registered capital of over USD 3.6 billion, mainly in production and real estate.

However, it boasts advantages in telecommunications, renewable energy, the environment, biomedicine, manufacturing, infrastructure and logistics, which all conform to Vietnam’s foreign investment attraction orientations.

Vietnam exports a wide range of commodities to France, and the EU - Vietnam Free Trade Agreement (EVFTA), which took effect in August 2020, has created even more opportunities for shipments to France.

Though the Covid-19 pandemic caused negative impacts on the global trade in 2021, bilateral trade still saw progress.

Last year, Vietnam shipped about USD 3.2 billion worth of goods to France. The figure was USD 1.1 billion in the first four months of 2022, up 10.3% year on year.

Meanwhile, France’s exports to Vietnam approximated USD 1.6 billion in 2021, up 5.3%, and stood at USD 450 million in the January - April this year, down 16%, according to the General Department of Vietnam Customs.

An open and lively discussion among speakers and representatives of French businesses took place as part of the event.

The French enterprises wanted to explore Vietnam’s tax rates applicable at industrial parks, the government’s investment incentives for foreign investors, and the country’s strategy and policies for the development of the renewables and the governmental support for foreign companies in new product R&D, startup and innovative projects.

Vietnam's geographical location in the centre of ASEAN makes it very competitive among its peers in the logistics sector, CCIFV President Thibaut Giroux told VNA, adding that its population of 100 million and large workforce are attractive to foreign enterprises.

Efforts Made to Boost Trade, Investment Cooperation between Vietnam, France
Thien Minh Group and Vietnam Airlines held a conference in Paris on June 21 with a view to boosting trade and tourism links between Vietnam and France.

Earlier, on June 21, Thien Minh Group, which provides experience tourism and hotel services in Asia, and national flag carrier Vietnam Airlines held a conference in Paris with a view to boosting trade and tourism links between Vietnam and France after the Covid-19 pandemic was controlled.

The Paris conference was part of a series of events held by Thien Minh, Vietnam Airlines, and partners to promote Vietnamese tourism abroad.

The previous events took place in London (the UK), Singapore, Frankfurt (Germany), San Francisco (the US), Tokyo and Osaka (Japan), and Seoul (the Republic of Korea). The last destination of these activities is Sydney (Australia).

Ambassador Thang said Vietnam has long been an attractive destination for French tourists, and the full resumption of international flights since March 15 has led to a growing number of arrivals to Southeast Asian country.

The reactivation of tourism is currently a major priority of Vietnam so as to contribute to post-pandemic economic recovery and growth, he said, noting that following the Government’s decision to fully restart trading and tourism activities, a large number of international tourists, especially French and other Europeans, are showing their intention to revisit Vietnam.

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