French businesses hails Vietnam’s investment environment

The remark was made by French and overseas Vietnamese businesses at a ceremony in Paris on September 24 to present the “For the development of Vietnam’s industry and trade sector” insignia.

Jacques de Chateauvieux was credited for having spent EUR150 million on building the Cora supermarket – the first one in Vietnam and the predecessor of Big C today – and the Bourbon sugar production plant in Tay Ninh, as well as developing seaport services in Ho Chi Minh City.

He said French businesses are successful in adding value to Vietnamese trademarks with support from local authorities, labour forces, and legal infrastructure.

Vietnam’s investment environment has improved significantly over the past two decades thanks to legal documents specifying procedures for investors, development of infrastructure, and stable investment policy, he added.

Jacques also spoke highly of the quality of labour forces in implementing assigned tasks, managing businesses and proposing creative initiatives.

Minister of Industry and Trade Vu Huy Hoang presented the insignia to Tong Van Kiet, an overseas Vietnamese who has significantly contributed to boosting exports of Vietnamese food and frozen seafood, handicrafts, publications, and garments to France.

Another OV businessman honoured at the ceremony is Nguyen Hai Nam who has taken part in many investment and business development projects of the French Societe General banking and finance group in Vietnam over the past 14 years.

He has conducted market research and financial analysis and negotiated with many Vietnamese banks, and monitored the economic and legal environment to develop strategic investment initiatives for Societe General to invest in Vietnam. The group has so far poured US$160 million into Vietnam.

In 2010, he set up the Vietnamese Business Association in France (AB VietFrance) as a trade bridge between Vietnam and France.