Vietnam Remains Attractive Destination for French Investors

The representative of the city of Marseille spoke at the meeting. Photo: VNA

The first France-Vietnam economic forum was held in the French port city of Marseille on Monday. The topics discussed at the forum were import and export, investment, prospects for economic and trade cooperation with Vietnam.

Organized for the first time at the initiative of the Chamber of Commerce and Industry Aix Marseille Provence (CCI Aix Marseille Provence) and the Honorary Consulate of Vietnam in Marseille, the forum attracted the participation of 100 representatives from French and Vietnamese enterprises.

Vietnamese Ambassador to France Dinh Toan Thang introduced about the socio-economic situation, as well as the investment environment and potential for cooperation with Vietnam.

Speaking at the event, Vietnamese Ambassador to France Dinh Toan Thang said Vietnamese agencies met with Aix Marseille Provence’s leading firms to step up projects in the fields of infrastructure, logistics, seaports, food processing, clean energy, aerospace, healthcare and pharmaceuticals.

Enterprises in Aix Marseille Provence also expect to connect new investment projects with Vietnamese partners, he said.

Vietnamese representations in France are also doing their best to create new bridges between Vietnam and Aix Marseille Provence.

In a video speech sent to the event, Minister for Foreign Trade, Attractiveness and French Nationals Abroad Olivier Becht called on the two countries’ businesses to enhance trade and investment on the back of advantages brought about by the EU-Vietnam Free Trade Agreement, promote joint actions in promising areas such as renewable energy, infrastructure, and continue pursing major projects in Vietnam such as Hanoi's metro line.

He emphasized the special importance of the France-Vietnam relationship as well as the prospects for multifaceted cooperation, especially in the context that the two countries are looking forward to the 50th anniversary of the diplomatic relations and the 10th anniversary of the strategic partnership.

He committed that French trade promotion and import-export agencies will support enterprises in new projects between the two countries.

The plenary session helped listeners better understand the overview, prospects and potentials of the Vietnamese market, the opportunities brought by the EVFTA as well as issues related to logistics and legal procedures.

Minister for Foreign Trade, Attractiveness and French Nationals Abroad Olivier Becht speaks in a video clip. Photo: VNA

Businesses and representatives of consulting and trade promotion agencies met to share experience in the process of carrying out projects in Vietnam.

Thierry Modica, representative of CCI Aix Marseille Provence, said: "The potential for economic cooperation between the two sides is huge. We have a large Vietnamese community in Marseilles and surrounding areas.

Our businesses wish to invest in Vietnam and promote economic exchanges. Our CCI has 14,000 companies as members, and our mission is to connect companies from both sides."

He said the economic forum was organized to develop and promote the partnership and trade exchange between France and Vietnam and vice versa.

CCI Aix Marseille Provence expects the second phase of this forum to be held in December 2022 with field trips to Vietnam (Hanoi, Da Nang and Ho Chi Minh City).

They also want to attend the Vietnam-France Economic Forum 2022 to exchange with Vietnamese partners. According to the organizers, many companies have registered to participate in this event.

Business perspective

Attending the forum with the desire to meet partners wishing to invest in Vietnam, act as a bridge between French and Vietnamese businesses, Thierry Mermet, CEO of Source of Asia said he has been in the country for 25 years now, witnessing the whole process of opening up and the strong development of foreign investment in Vietnam.

He said: "Vietnam is ready to welcome foreign investment. The reason is because in the past 15-20 years, Vietnam has grown and opened up more.

The closure of China and difficulties in trade between Western countries and Russia have made the Association of Southeast Asian Nations (ASEAN) the only major economic region in the world today, with strong growth rate, dynamism and young population. Vietnam is the center of this region."

Vietnamese Ambassador to France Dinh Toan Thang introduced about the socio-economic situation, the investment environment and potential for cooperation with Vietnam. Photo: VNA

For Julien Brun, CEL Consulting, there are 3 reasons to invest in Vietnam.

The reasons include that Vietnam has a hard-working, dynamic and creative human resource; Vietnam has the most open economy in Asia and a potential commercial market.

However, he said: "Vietnam, despite many efforts, still needs to focus on developing port and airport infrastructure to further meet the foreign investment capital that will pour into the country.

In addition, it is also necessary to strengthen human resource training, prioritizing intellectual workers over manual workers, to meet the needs of digitizing factory operation by automated systems or robots in the future."

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