Speaking at the seminar, Mr Roger Bacri, an expert in charge of cooperation in Asia for the Paris Chamber of Commerce & Industry praised Vietnam’s great potential, its efforts to boost the International integration process and its renewed policies to attract foreign investment.

With a population of more than 82 million people, Vietnam is considered an important market with great potential for development in the wake of its entry to the World Trade Organisation (WTO).

HSBC General Director in Vietnam Alain Cany briefed French enterprises on the business situation and the great potential of the Vietnamese market. He expressed his appreciation for the political stability in Vietnam, which has a dynamic young generation and has great determination to effect drastic reform and open the market.

Vietnam is regarded as a dynamic economy with the first and second highest growth in region. In 2006, the country hit a GDP growth rate of 8.2 percent, earning US$61 billion in which export turnover reached more than US$39 billion and foreign direct investment was on the rise.

Notably, as many as 210,000 enterprises have been established in Vietnam after the Enterprise Law was issued in 2000. After six years of operations, the Vietnamese securities market’s total capitalisation amounted to more than US$14 billion.

During the past few years, HCM City has obtained tremendous achievements thanks to its great potential and strength. 

Truong Trong Nghia said that with more than 8 million people, Ho Chi Minh City – the country’s largest economic center – attracted US$2.2 billion FDI in 2006. The city has great investment and trade potential. Many projects will be implemented in the near future such as building a new port to replace Sai Gon Port, an underground transport system, upgrading Tan Son Nhat International Airport with the capacity to receive 10 million passengers per year by 2010, developing new industrial zones, high technology parks and computer software.

Mr Nghia said that the city will need around US$30 billion to develop modern infrastructure from now to 2010. To lure more foreign investment, Mr Nghia said that over the past five years, Ho Chi Minh City and other localities nation-wide have made great efforts to improve administration reform and create more favourable conditions for investors to do business. Enterprises and investors are also very dynamic and active in learning their experience to integrate into the international market.

Recently, Ho Chi Minh City Urban Public Lighting Company signed a co-operation agreement with the French Citelum Company to supply traffic lights, electronic signposts and cameras.

In Paris, a number of direct meetings between French and Vietnamese businesses on investment and business opportunities in Ho Chi Minh City and Vietnam have been held.