Vietnam – France business forum held in Paris

The Vietnam – France business forum was held in Paris on June 11 as part of Prime Minister Pham Minh Chinh’s working visit to France.

The Vietnamese PM was quoted by the Vietnam News Agency as stating at the forum that businesses need to join hands to connect the two economies, while the governments serve as facilitators—creating opportunities, providing favorable conditions, and promoting cooperation.

He highlighted the good relationship between Vietnam and France with vivid symbols such as the railway system, Long Bien Bridge, and various architectural and cultural landmarks.

The leader of the Vietnamese Government stated that Vietnam aims to become a developed country with high-income by 2045. To that end, the country is striving for a growth rate of at least 8% by 2025, and double-digit growth in the following years.

According to the PM, Vietnam is focusing on strategic breakthroughs - streamlined institutions, seamless infrastructure, and skilled human resources coupled with smart governance, which are expected to help reduce compliance and logistics costs, lower product prices, and increase the competitiveness of Vietnamese goods and businesses.

Vietnam is also working hard on building an independent and self-reliant economy while actively and proactively pursuing extensive, substantive, and effective international integration, he went on.

He urged businesses to focus on areas where one side has strengths and the other has demand, through concrete projects, covering artificial intelligence (AI), research and production of semiconductor chips, information technology, transport and logistics, climate change response, clean and high-quality agriculture, energy transition, urban development and architecture, cultural exchange, tourism, cultural industries, and development of maritime space, outer space, and underground space.

The leader called on French companies to further expand cooperation with and investment in Vietnam, and enhance the transfer of science and technology, support human resources training, and increase the use of Vietnamese input products.

He said that businesses, and people of the two countries should continue to build on the strong foundation of Vietnam–France relations to make bilateral cooperation more practical and effective, contributing to promoting green, rapid, and sustainable development, and prosperity of both nations.

 

At the forum, representatives of ministries, sectors, business associations, and enterprises from the two countries presented their potential, strengths, and desire to set up partnerships in various fields such as energy, telecommunications, maritime affairs, pharmaceuticals, agriculture, and application of technology in agriculture.

On this occasion, PM Chinh witnessed the signing of six memoranda of understanding (MoU) in the fields of aviation, technology, pharmaceuticals, transportation, and energy.

Specifically, Vietnam Airlines and Safran Electronics & Defense, a member of Safran Group, signed an agreement to lease a flight data analysis system for 2026–2030. Notably, ING LLC Group agreed to provide financial support worth $1.5 billion for the national flag carrier’ narrow-body aircraft project.

Vietnam’s tech giant FPT Group and Airbus inked a cooperation agreement on digital transformation. Accordingly, FPT officially becomes a global strategic technology partner of Airbus, paving the way for its engagement in Airbus’s global IT projects in key areas such as customer services, big data, and cloud-based software development.

Vietnam Pharmaceutical Corporation (Vinapharm) and Opella Group agreed to increase Vinapharm’s stake in Sanofi Vietnam JSC. Meanwhile, Vietnam Maritime Corporation and HDF Energy SA will cooperate to develop hydrogen fuel and fuel cells in Vietnam’s maritime sector.

Additionally, Wealth Power Vietnam Group and HDF Energy SA will partner in researching and developing a hydrogen production plant.

Economic, trade, investment, and development cooperation has always remained a key pillar of the bilateral relations. France is currently Vietnam’s fourth-largest trading partner and the second-biggest investor among EU member states. The two-way trade has seen steady growth over the years, exceeding $5.4 billion in 2024. However, huge potential and room remains for economic, trade, and investment cooperation between the two countries. The two countries' high-level leaders have recently agreed to effectively implement and leverage the EU–Vietnam Free Trade Agreement (EVFTA), while promoting trade and investment, especially in sectors where one side has strengths and the other has demand.