Vietnam and France Increase Business Ties

Posted by Reading Time: 2 minutes

HCMC – In Ho Chi Minh City this week there has been an influx of businessmen and women from over 600 Vietnamese and French companies, in areas ranging from technology and food processing to construction, cosmetics and consumer goods, due to the “Vietnam-France Business Forum.” The forum, which started on April 8th, aimed to foster the development of international partnerships between Vietnamese and French companies.

In a bid to further cultivate business ties, seminars on Vietnam’s business environment, consumer taste and demand were held during the forum. In addition, French businesses had the opportunity to consult with specialists in the Vietnamese banking, taxation, human resources and intellectual property sectors.

Nicole Bricq, the French Minister of Foreign Trade and co-chair of the event, expressed her interest in developing further economic ties with Vietnam.

“Vietnam is a priority for the French market in many economic sectors… So this forum is an opportunity for French companies to access and expand in the Vietnamese market, as well as prepare to penetrate into the 600-million strong ASEAN economic community,” she said.

The forum was jointly organised by the French Agency for International Business Development (UBIFRANCE), the French Chamber of Commerce and Industry in Vietnam (CCIFV), the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Association of Small and Medium Enterprises.

France is one of the 15 largest investors in Ho Chi Minh City, and is also the second largest European investor in Vietnam (following the Netherlands) after investing over US$3 billion in the country in 2012. Vietnamese exports to France reached US$3.51 billion during the same period, which was a year-on-year increase of 37.7 percent.

There are over 300 French businesses that currently invest in Vietnam, and an additional 30 French-invested projects totaling US$68 million have already obtained new investment licenses.

Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam in addition to alliances in Indonesia, Malaysia, Philippines and Thailand as well as liaison offices in Italy and the United States.

For further details or to contact the firm, please email vietnam@dezshira.com, visit www.dezshira.com, or download the company brochure.

You can stay up to date with the latest business and investment trends across Vietnam by subscribing to Asia Briefing’s complimentary update service featuring news, commentary, guides, and multimedia resources.

 Related Reading

vb cover 1st effort

A Guide to Understanding Vietnam’s VAT
In this issue of Vietnam Briefing, we clarify the entire VAT process by taking you through an introduction as to what VAT is, who and what is liable, and how to pay it properly. We first take you through the basics of VAT in Vietnam before taking you deeper into the topic. Additionally, we provide updates on the new changes to the VAT process and explain how they will impact your business. The magazine is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore until the end of April.

Vietnam’s High-Tech Boom

 

Leave a Reply

Your email address will not be published. Required fields are marked *