France sees Vietnam as attractive market: Ambassador

Addressing the France-Vietnam Business Forum in Ho Chi Minh City on October 27, the diplomat noted that Vietnam is enjoying a more stable economic growth compared to other Southeast Asian countries and becoming the most open economy in the region.

Free trade deals with various partners also make Vietnam an appealing market for foreign investors, he held, adding that the French business community is keen on seeking investment and business opportunities in Vietnam and expanding partnership with local firms.

Nguyen Thao Hien, deputy head of the European Market Department under the Ministry of Industry and Trade, revealed that since Vietnam and France became strategic partnership in 2013, the two countries have seen an average rise of over 15% in trade annually.

The Vietnam-EU Free Trade Agreement, which will become effective in 2018, will bring about new prospects for bilateral trade partnership through the removal of the tariff and non-tariff barrier as well as simplification of import-export procedures, she said.

Meanwhile, Le Thanh Liem, Vice Standing Chairman of the Ho Chi Minh City People’s Committee, said that France is always among the 10 largest investors in the city. As of July 2016, France had 185 projects with a total capital of US$848 million in the city. Two-way trade reached over US$423 million.

With their dynamism and cooperative spirit, Ho Chi Minh City’s enterprises are reliable and effective partners of French businesses, he said, pledging that the local government will give the most favourable conditions for foreign investors, especially those from France, to develop their business.