At the meeting, French enterprises affirmed that they could meet the needs of Vietnam and were ready to cooperate for sustainable development.
Mr. Francois Corbin was impressed with Vietnam's growth in recent years. According to the Vice President of MEDEF, Vietnam is one of the few countries in the world that has maintained growth during the period when the world had to respond to Covid-19. After that, Vietnam continued to welcome strong foreign investment, creating a foundation for further development in the future.
"Businesses of the two countries, with their complementary capabilities, will effectively exploit opportunities and room for development," Mr. Francois Corbin said.
Sharing the same view, representatives of French corporations affirmed that the business communities of the two countries have a "golden opportunity" to cooperate and develop together. French enterprises can meet the needs of Vietnam and are ready to cooperate for sustainable development.
The Vice President of MEDEF emphasized that French enterprises have characteristics that other countries do not have, which are training human resources and transferring science and technology to partners. French enterprises are willing to share knowledge and experience with Vietnamese partners.
On the Vietnamese side, Deputy Prime Minister Ho Duc Phoc highly appreciated France's strengths in the fields of high technology, sustainable development, renewable energy, infrastructure, transportation and agriculture. Accordingly, he suggested that MEDEF increase investment connections and business cooperation in these fields.
France is the first country in the EU to establish a Comprehensive Strategic Partnership with Vietnam during the official visit to France by General Secretary To Lam in October 2024. France is currently ranked 4th among EU countries in terms of trade with Vietnam. Last year, bilateral trade turnover reached more than 5.4 billion USD.
Along with trade, France is currently ranked 2nd in terms of investment in Vietnam with a total registered capital of 3.96 billion USD as of the end of April. They are the leading European country in terms of ODA capital committed to Vietnam.
However, according to Deputy Prime Minister Ho Duc Phoc, the two countries still have a lot of room to develop economic cooperation and need to make the most of the benefits of the Vietnam - EU Free Trade Agreement (EVFTA) as well as the Vietnam-EU Investment Protection Agreement (EVIPA).
The Vietnamese Government leaders hope that France will continue to support Vietnam in developing and researching industrial projects such as supporting industries, processing, manufacturing, means of transport, etc.
France also has strengths in the field of distribution and retail with many of the world's leading large enterprises. Therefore, the Deputy Prime Minister suggested that France increase cooperation with domestic enterprises to bring Vietnamese goods into major global distribution channels.
In the field of renewable energy, the Deputy Prime Minister suggested that MEDEF continue to support credit and technical cooperation to improve human resources, promote the energy transition and innovation process in Vietnam.
Mr. Phoc proposed that this agency share experience and technology in hydrogen production, support Vietnam in applying technology and techniques to capture and use carbon associated with the process of producing hydrogen energy from other energy sources (such as coal, oil and gas, etc.). He also wants French businesses to continue supporting and participating in infrastructure and urban transport development projects in Vietnam, including the national railway network.
The Deputy Prime Minister affirmed that the Government always creates all conditions for businesses from other countries, including French businesses, to accelerate, break through, develop strongly and be more successful in the Vietnamese market.
On this occasion, the Deputy Prime Minister asked the Union and French businesses to have a voice to urge the French National Assembly to soon ratify the EVIPA Agreement, creating a favorable legal framework for European and French businesses to increase business cooperation and investment in Vietnam.