Vietnam, France foster strategic partnership

The official logo of the 45th anniversary of Vietnam-France diplomatic ties

Vietnam and France established a strategic partnership in 2013 to boost cooperation in all aspects, particularly in economics. Mutual political trust and regular high-level visit exchanges have created a basis to boost economic cooperation.

France ranks 3rd among European investors in Vietnam and 16th among foreign stock investors with US$3 billion. 300 French enterprises are doing business in Vietnam with a total investment of US$4.2 billion and 26,000 jobs. A majority of the projects involve in manufacturing, assembly, science, and technology.

The two countries see great potential for further cooperation. Vietnam attracts foreign investors with its political and security stability, dynamic, young human resource, large market, positive and sustainable growth, and incentives for investors. Vietnam wants to lure investment in products with high value and competitiveness, advanced technology, environmental protection, education, training, health care, IT, and bio-technology.

These areas attract French investors, said France’s Secretary of State to the Ministry of Europe and Foreign Affairs Jean Baptise Lemoyne.

“I have discussed with the Deputy Minister of Planning and Investment at the senior economic dialogue between Vietnam and France. This is an important activity in bilateral economic cooperation this year. The two countries have great opportunities to forge closer ties. Vietnam’s economy has grown remarkably with per capita income tripling. France is an economic locomotive in the region,” said Mr Jean Baptise Lemoyne.

The two countries will celebrate 45 years of diplomatic ties and 5 years of strategic partnership this year. With high-ranking visits being scheduled for this year including Party leader Nguyen Phu Trong’s visit to France and Minister of Europe and Foreign Affairs Jean Yves Le Drian’s visit to Vietnam, bilateral economic cooperation is likely to flourish.