Vietnam An Ideal Destination in French Companies’ Eyes

The two countries’ businesses enhance trade and investment on the back of advantages brought about by the EU-Vietnam Free Trade Agreement.

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France and Vietnam have a lot of advantages to strengthen their economic cooperation, the EVFTA has created favourable conditions for Vietnamese enterprises to increase exports to the EU.

Vietnam An Ideal Destination in French Companies' Eyes
An overview of the workshop. Photo: Vietnamese embassy in France

A Vietnam-France trade promotion workshop recently was held in Paris, with the participation of many companies from the two countries specialising in agriculture and food import and export, VNA reported.

The event was organised by the Vietnamese Ministry of Industry and Trade, the Embassy and the Trade Office of Vietnam in France, and the Chamber of Commerce and Industry of Paris (CCIP).

In her remarks, Marie-Christine Oghly, leader of the CCIP, said since the European Union-Vietnam Free Trade Agreement (EVFTA) come into force, more and more French companies are seeking to strengthen or establish cooperation with Vietnamese partners, said.

Many French companies have chosen to invest in Vietnam, not only because of its potential domestic market, but also a favourable location to develop their business in the Association of Southeast Asian Nation region, she said.

According to Vietnamese Ambassador to France Dinh Toan Thang, over the past 30 years, Vietnam’s economy has achieved important achievements, maintaining a growth rate of 7% per year. With 15 free trade agreements coming into effect in early 2022, Vietnam becomes part of a vast economic network of international partners.

The diplomat emphasized that 2023 is the 50th anniversary of diplomatic relations between Vietnam and France, which will be a good opportunity to carry out trade and investment promotion activities between the two countries, creating favorable conditions for business Vietnam – France businesses meet to exchange and understand needs, thereby developing trade between partners.

At the workshop, the Director of the Trade Promotion Department, under Vietnam’s Ministry of Industry and Trade, Vu Ba Phu highly appreciated the cooperation of the CCIP, which has supported Vietnamese and French businesses in promoting trade connections.

Emphasizing that trade promotion and overseas market development are one of the key tasks that the Ministry of Industry and Trade of Vietnam pays special attention to and directs throughout the ministry’s working programs, Phu said that the workshop would create a good opportunity for the parties to openly exchange, better understand each other’s needs and capabilities, and move towards establishing a long-term and sustainable cooperative relations steady.

With a market as dynamic and full of potential as France, in the coming time, Vietnamese and French businesses will find many cooperation opportunities, to serve as a basis for cementing the friendly relationship between the two countries. stop sustainable development.

Participants at the workshop explored the needs and capacities of each side, in order to establish long-term and sustainable cooperative relationships.

French companies, who are operating in Vietnam, affirmed that the country is an ideal destination thanks to its political stability, preferential investment policies, attractive business environment, and diversified geographical conditions which are suitable for agricultural development.

France is now Vietnam’s second largest investor among EU countries, pouring more than USD 3.6 billion into the Southeast Asia country.

Vietnam An Ideal Destination in French Companies' Eyes
A Vietnam’s booth at the Sial Paris International Food Exhibition 2022. Photo: Vietnamese Embassy in France

Within the framework of the National Trade Promotion Program, the Trade Promotion Department organized a business delegation to attend the Sial Paris International Food Exhibition 2022 from October 15 to 19 in Paris.

The opening ceremony of the Vietnamese booth at the Fair took place on the morning of October 15 with the participation of Ambassador Thang and Director of the Trade Promotion Department Vu Ba Phu.

On the side of the French Ministry of Agriculture and Food, there was Jean-Marc Callois, Commissioner in charge of food processing enterprises.

Together with representatives of nearly 80 Vietnamese import-export enterprises exhibiting at the fair with typical Vietnamese food and agricultural products such as honey, pepper, cashew, cinnamon, vegetables, rice and other rice products.

Hannah Nguyen