Vietnam to create optimal conditions for French firms

NA Chairwoman Nguyen Thi Kim Ngan delivered the commitment at a working breakfast with the France-Vietnam Friendship Parliamentarians’ Group and representatives of 15 major French businesses in Paris on April 1.

Vietnam to create optimal conditions for French firms

NA Chairwoman Nguyen Thi Kim speaks at the working breakfast with the France-Vietnam Friendship Parliamentarians’ Group on April 1. (Photo: VNA)

Ngan said the Vietnamese NA delegation’s ongoing visit aims to promote and deepen the Vietnam-France strategic partnership, as well as bilateral legislative ties in particular, helping to enhance the multifaceted cooperation between the two countries with economic-trade collaboration as the centre.

She highly evaluated France’s policy on strengthening economic cooperation with Vietnam and hoped that French firms will expand their business and investment in the Southeast Asian country.

At the working breakfast, representatives of French enterprises such as Air Liquide and Total spoke highly of the Vietnamese market’s potential in energy, especially renewal energy.

Meanwhile, representatives of other businesses showed their interest in the fields of aviation infrastructure development, logistics, pharmaceuticals, health care, wholesale market building and clean food supply.

In the sphere of energy, a representative of the Vietnamese Ministry of Industry and Trade affirmed Vietnam’s support for projects involving French companies, saying the country will create all possible conditions so that the projects are implemented effectively and on schedule.

Vietnam to create optimal conditions for French firms

NA Chairwoman Nguyen Thi Kim Ngan meets with representatives of French enterprises. (Photo: VNA)

A representative of the NA’s Committee for Legal Affairs said the Vietnamese legislature will continue to further study the Law on Investment in order to make it easier for investors to participate in projects in Vietnam.

The Vietnamese NA will also amend the Law on Intellectual Property in May to satisfy conditions of economic integration, the official added.

Leaders of Vietnamese ministries, agencies and localities talked about investment opportunities and potential in Vietnam, particularly in aviation and metro, stressing that French businesses and investors are able to take part in these projects.

They also committed to creating optimal conditions for French businesses and investors to approach master planning schemes to clearly identify their investment plans.

An official of Hanoi city briefed on the progress of some projects involved in French partners, including a hospital exclusively for mothers and children, whose construction will begin in May 2019 and is expected to be completed in October 2020, a centre of emergency aid in combination with firefighting, and a farm produce wholesale market in Gia Lam district.

In her closing speech, Ngan said the Vietnamese NA will work harder to complete laws regarding economic affairs, in line with international practices and integration process Vietnam has committed in free trade agreements (FTAs), thus ensuring transparency, publicity and equality for both domestic and foreign investors.

The Vietnamese Government will create a competitive, favourable and open investment environment, and carry out intensive and extensive administrative reforms, from the stage of corporate establishment to customs and tax affairs, she said.

Vietnam is stepping up infrastructure development and economic investment programmes with high connectivity, towards a digital economy and smart urban cities, Ngan added.

Along with e-government, the legislature will build an e-parliament, she said, noting that the legislative agency will accompany businesses and investors, helping remove their difficulties.

In an interview granted to French daily newspaper L’Opinion about Vietnam’s economic prospects, the Vietnamese top legislator said that the Vietnamese economy will continue its rapid, sustainable and inclusive growth based on a strong domestic market of 95 million people with increasing incomes.

The creativity and aspirations for moving ahead of Vietnamese people, especially young people under 35 years old who account for up to 60 percent of the population, are considered as momentum for the nation’s development process, she said.

Besides, Vietnam is renewing its growth model based on renovation and creativity and digital economic transformation, while encouraging the development of startups, taking advantages of the Fourth Industrial Revolution and promoting the private economic sector, Ngan stressed.

The country is also improving its legal frameworks towards a modern market economy in conformity to international standards and commitments in new-generation free trade agreements (FTAs), she said.

With 12 signed FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Vietnam Free Trade Agreement (EVFTA) and FTAs with such important markets as ASEAN, China, Japan and Russia, Vietnam has taken a further step in the global integration process, she underlined.

Regarding the EVFTA’s impacts on Vietnamese trade prospects, the Chairwoman highlighted the importance of the deal, in terms of both strategy and economy-commerce, as it will open various cooperation opportunities for Vietnam and the EU. Both sides need to finalise relevant procedures so as to soon sign and ratify the pact, ensuring that it will take effect as soon as possible, she noted.

Regarding Vietnam-France relations, Ngan affirmed that the bilateral ties are enjoying an impetus for further growth, with a line-up of delegation exchanges at all levels and cooperation mechanisms. Particularly, cooperative ties between Vietnamese and French localities have contributed remarkably to the bilateral relations.

According to the top legislator, France has remained a big trade partner and an important investor of Vietnam, and both countries, as active members of the international community, have shared a number of common viewpoints, laying the foundation for bilateral coordination at international forums and multilateral cooperation mechanisms. Besides, Vietnam and France are pursuing joint efforts for global peace and stability as well as adaptation to global challenges.

Ngan also affirmed that the Vietnamese community in France in the largest of its kind in Europe, and they have obtained achievements in various sectors while many of them have held important positions in the local and central administrations of France.

The NA Chairwoman expressed her hope that the Vietnamese community in France will make further contributions to both the host nation and their homeland./.


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