Vietnam Business Forum

The forum was co-chaired by Vice Chairman of Hanoi People's Committee Nguyen Manh Quyen and Ambassador Extraordinary and Plenipotentiary of the French Republic to Vietnam Nicolas Warnery.

The Vietnam - France Business Forum was organized by the Hanoi People's Committee and assigned by the Hanoi Center for Investment, Trade and Tourism Promotion, with the theme "Connecting investment and business opportunities between enterprises; enterprises with localities; localities with localities of Vietnam and France".

With the participation of more than 500 delegates, the Forum is an opportunity for the parties to exchange ideas, initiatives and solutions to enhance mutual understanding, promote investment cooperation, contribute to promoting the relationship of "traditional friendship, comprehensive, long-term and trustworthy cooperation"; consolidate and strengthen existing relationships, and expand exchanges and cooperation between new partners of Vietnamese and French localities.

Speaking at the opening ceremony of the Forum, Vice Chairman of Hanoi People's Committee Nguyen Manh Quyen informed about the socio-economic situation of Hanoi in the first quarter of 2023. Accordingly, the gross regional domestic product (GRDP) increased by 5.8% (1.7 times higher than the whole country); service, industrial and agricultural sectors all increased; total state budget revenue in the area reached 128,000 billion VND, equal to 40% of the estimate; local budget expenditure was over 16,000 billion VND, reaching 15% of the estimate. The consumer price index (CPI) was controlled; total development investment capital increased by 8.6% (same period 7.8%, whole country 3.7%). Foreign investment capital in the area reached 1.678 billion USD (up 283% over the same period); 7,500 newly established enterprises with registered capital of more than 73,000 billion VND; Total retail sales of goods and consumer service revenue increased by 12.6% - higher than the same period (9.1%). Tourists to Hanoi (with accommodation) reached more than 1 million arrivals, 2.2 times higher than the same period, of which international visitors were 712,000 arrivals, 15 times higher than the same period.

Regarding French investment cooperation in Hanoi, from 1989 to present, Hanoi has attracted about 494.4 million USD of FDI capital from France. Of which, in 2022, it attracted about 7.8 million USD of FDI capital and in the first 3 months of 2023, it attracted an additional 0.92 million USD.

With that foundation, the Vietnam - France Business Forum is an opportunity to connect the city authorities and investors, businesses of Vietnam and France. This is an opportunity for businesses to learn and discuss practical contents of implementing investment and business activities in Vietnam, discuss and propose the desire to connect, support information cooperation between businesses to expand investment. Create opportunities for parties to exchange ideas, initiatives, solutions to enhance mutual understanding, cooperation, investment, contributing to promoting the relationship of "Traditional friendship, comprehensive cooperation, long-term, trust"; consolidate and strengthen existing relationships, at the same time expand exchanges and cooperation between new partners of Vietnamese and French localities.

Speaking at the program, French Ambassador to Vietnam Nicolas Warnery affirmed the good development in the Vietnam - France relationship. The two countries have deepened their cooperation in all fields, especially the economy. The 12th Vietnam - France Local Cooperation Conference is an opportunity for Vietnam and France to find solutions to build and develop smart cities, preserve heritage... The Vietnam - France Business Forum is the highlight of the 12th Conference.

Mr. Nicolas Warnery emphasized: "This is an opportunity for us, through a series of events, to show the Vietnamese people the depth of the relationship between France and Vietnam as well as the diversity in bilateral cooperation. The French Embassy hopes that Vietnam - France cooperation will continue to have new developments, meeting common priorities; France is committed to strengthening cooperation with Vietnam to consolidate mutual trust and pave the way for deepening the relationship between the two countries in all areas".

Ms. Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, said that the forum is an opportunity for businesses to meet, discuss issues, strengthen local cooperation, and adapt to economic crises. Contributing to promoting diverse cooperation in key areas such as: Culture, economy, tourism... is a bridge between local businesses and French business representatives. In recent times, despite many difficulties at home and abroad, Vietnam has still been successful in achieving the dual goal of preventing and fighting the Covid-19 pandemic and developing the economy and society. Thanks to the policies and programs of the government to support businesses and social security. Therefore, Vietnam is always an attractive destination for foreign investment, including French investors.

Regarding the Vietnam-France relationship: Vietnam and France have a good traditional strategic partnership. France is one of the first countries with which Vietnam established diplomatic relations and is also one of the earliest ODA providers and the leading country in Europe in terms of committed capital, with the average capital increasing steadily over the years and reaching more than 100 million Euros/year since 2002. Currently, France's cooperation model with Vietnam is very stable and highly effective.

Vietnam is an active and responsible member of ASEAN and the Asia-Pacific region (APAC). France is a key member of the European Union (EU). Vietnam and France are both members of the Francophone Community and participate in the Vietnam-EU Free Trade Agreement (EVFTA). These are important legal foundations and frameworks for the two sides to expand cooperation and investment with potential economies in APAC and the EU.

Vietnam encourages and prioritizes attracting quality, focused, and key FDI associated with implementing policies to support businesses in promoting investment in science and technology, improving production capacity to meet and participate in the global supply chain, especially in the fields of high technology, innovation, green energy, renewable energy, finance-banking, healthcare, high-quality human resource training, infrastructure, healthcare, pharmaceuticals and environment. Therefore, Vietnam and France still have a lot of room for cooperation and development in the future.

The Vietnam - France Business Forum is an important event within the framework of the 12th Vietnam - France Local Cooperation Conference held from April 13 to 16, 2023 in Hanoi, practically celebrating the 50th anniversary of establishing diplomatic relations and 10 years of Vietnam - France Strategic Partnership in 2023.

THANH HUONG - TRONG BACH

Source