The Hanoitimes - A workshop discussing investing in and exporting to Vietnam was held by the enterprise club of the Association of Enterprises in the Ile-de-France region (MEDEF Ile-de-France) on May 4.
The event drew many French businesses which have invested in and exported to Vietnam, as well as partners who want to learn about Vietnam. Michel Jonqueres, Chairman of the International Committee under MEDEF Ile-de-France, said that the two countries have yet to fulfill their economic and investment potential.
At the event
France’s exports to Vietnam were valued at 1.7 billion EUR last year, accounting for only 1 percent of Vietnam’s imports, he said, suggesting French businesses expand operations in the Southeast Asian nation.
Agreeing with Jonqueres, Vietnamese Ambassador Nguyen Ngoc Son said that France is the 15th biggest trade partner of Vietnam. It is the 13th largest exporter to Vietnam and ranks 16th among countries and territories investing in the Southeast Asian country.
At the event, representatives of Vietnamese trade and investment promotion agencies in France presented the strengths of Vietnam’s investment climate, including stable political system, positive and sustainable growth prospects, competitive labour costs and high domestic demand.
Le Cong Thanh, Counsellor in charge of investment in France, stated that Vietnam wants to attract investment in hi-tech and environmentally-friendly fields, which are strengths of France. Representatives from several French enterprises shared their experience in doing business in Vietnam.
Some 300 French enterprises currently operate in Vietnam, with a total investment capital of 3.4 billion EUR, generating about 26,000 jobs. MEDEF Ile-de-France comprises of enterprises from Paris and seven surrounding provinces.
Translated by Tuan Minh