Vietnam and France Increase Business Ties
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.
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