Deputy Minister of Finance Tran Quoc Phuong made the remarks at the annual high-level Economic Dialogue Forum between Vietnam and the French Republic held on November 6 in Hanoi.

Phuong affirmed that France is an important partner in Vietnam’s foreign policy and that cooperation between the two countries in recent years has achieved positive and substantive results.

He said the two countries will also continue to effectively implement the EU-Vietnam Free Trade Agreement (EVFTA). At the same time, Vietnam has proposed that France soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA).

The Deputy Minister said Vietnam’s capital demand for development in the coming years is very large. To meet this need, the Government has been working to improve the legal framework for mobilising, managing and using ODA capital and preferential loans from foreign donors, ensuring a transparent and effective mechanism.

Vietnam hopes to receive continued support from partners, especially those with advanced technology and a long tradition of development cooperation with Vietnam, such as France.

Magali Cesana, head of Bilateral Affairs and International Business Development Department (SABINE) of the French Treasury, reaffirmed France’s commitment to accompanying Vietnam in the coming period.

She said France would continue to strengthen bilateral cooperation through specific projects, contracts and joint programmes between government agencies and the private sector.

According to Cesana, France is highly interested in and wishes to continue supporting Vietnam’s economic reform and development programmes, particularly in transport and energy infrastructure projects, to jointly address global challenges such as climate change and digital transformation, while ensuring national sovereignty throughout the development process.

She agreed with Vietnam’s cooperation proposals and affirmed that France will continue to support and share its experience with Vietnam in areas where it holds particular advantages.

Both sides also agreed to closely coordinate in implementing signed cooperation agreements to ensure progress and efficiency. Relevant agencies from both countries will explore and seek new cooperation opportunities in the fields of energy, finance and banking.

The high-level economic dialogue between Vietnam and France is an annual forum co-chaired by Vietnam’s Ministry of Finance (formerly the Ministry of Planning and Investment) and France’s Ministry for the Economy, Finance and Industrial and Digital Sovereignty. The event is held once a year, alternating between the two countries.

The forum was established under a joint initiative of the two governments aimed at discussing cooperation needs across various fields between Vietnam and France.

At this year’s forum in Hanoi, both sides discussed macroeconomic issues, trade and investment cooperation, development assistance and financing, as well as collaboration in sectors such as transportation, energy, agriculture, environment, finance and banking.

The two sides also acknowledged that, given the current global economic, political and social volatility, their cooperation programmes and projects may face many challenges.

However, economic and financial cooperation between the two countries is expected to continue developing strongly and substantively in the coming years, contributing significantly to the connection between the two economies.

Since the establishment of diplomatic relations in 1973, the Vietnam–France relationship has made remarkable progress across all fields, including politics and diplomacy, trade and investment, development cooperation, culture, education and training.

This foundation enabled the two countries to elevate their relationship to a strategic partnership in 2013 and a comprehensive strategic partnership in 2024.

France is the first EU country to establish a comprehensive strategic partnership with Vietnam, representing the highest level of relationship in Vietnam’s overall foreign policy.

Cooperation in economic and trade development has been identified as one of the key pillars of this comprehensive strategic partnership.

In terms of trade, Vietnam is currently France’s second-largest trading partner within ASEAN, while France ranks as Vietnam’s fourth-largest trading partner within the EU.

In 2024, bilateral trade reached over US$5.4 billion, up 12.9% from 2023, with Vietnam exporting more than US$3.4 billion and importing over US$2 billion.

Regarding investment, France currently has more than 700 active investment projects in Vietnam across 16 economic sectors, with a total registered capital of approximately US$4 billion.

This places France 16th among 151 countries and territories investing in Vietnam. Meanwhile, Vietnam has 22 investment projects in France with a total registered capital of around US$40 million.

Meanwhile, France remains one of Vietnam’s leading donors of ODA and concessional loans, primarily through two key funding agencies, the General Department of the French Treasury and the French Development Agency (AFD). Projects financed by French ODA and preferential loans are implemented in diverse sectors.

Vietnam, France step up cooperation in education, sustainable development

Vietnamese Ambassador to France Dinh Toan Thang has recently paid a working trip to Perpignan city of Pyrénées-Orientales province in Occitanie region, opening new avenues for cooperation across economy, education, energy transition and sustainable growth, the strategic priorities shared by both countries.