Southeast Asia emerges as 'strategic destination' for French businesses

According to a VNA reporter in Paris, with a steady economic growth rate, young population, and great demand for energy, infrastructure and digital technology, members of the Association of Southeast Asian Nations (ASEAN) are becoming the focus of attraction for French businesses.

Vietnam is currently among the three largest garment exporting countries in the world . Illustration photo: Tran Viet/VNA

Arnaud Caudoux, Deputy General Director of the public investment bank Bpifrance, said the region is opening up unprecedented opportunities for French small and medium-sized enterprises and mid-sized enterprises. According to the World Bank (WB), the ASEAN economy is expected to maintain a growth momentum of over 4.4% this year and 4.5% next year. The fact that more than half of the region's population has access to secondary education has helped Southeast Asian countries build an abundant workforce for export industries such as textiles and electronics. Many countries also quickly controlled inflation after the COVID-19 pandemic, while benefiting from the trend of shifting production by Chinese and Western corporations to diversify supply chains.

Mr. Arnaud Caudoux assessed that most ASEAN countries are currently pursuing a model of economic freedom, creating a favorable environment for foreign investment. Singapore, Malaysia and Thailand are the leading countries in attracting capital thanks to a stable legal framework, while Vietnam has opened up more strongly in recent years. The large market size and rapid growth rate make these economies increasingly attractive to French businesses.

Vietnam and Indonesia are assessed to have outstanding prospects in the fields of industry, energy and digital technology . According to Mr. Caudoux, to penetrate the Southeast Asian market, French enterprises need to have a step-by-step roadmap, choosing target markets suitable for their industries. Singapore is an ideal "gateway" thanks to its strategic location and high-quality service ecosystem, being a financial, biotechnology and digital center despite its expensive operating costs. Meanwhile, Vietnam is promoting the production of electric cars; the Philippines is developing the shipbuilding industry; Indonesia is promoting the mining and processing of metals...

The high demand for public transport, port infrastructure, water and waste treatment and energy production has created conditions for French corporations to assert their position in the region. Opportunities are also open for SMEs and mid-sized enterprises. Since 2019, Bpifrance has supported around 50 French fintech startups to participate in the Singapore Fintech Festival, with around a third of them having established their businesses in Southeast Asia. More than 200 French companies have also participated in market research programs organized by Bpifrance in collaboration with Team France Export since 2019.

Source: https://baotintuc.vn/kinh-te/dong-nam-a-noi-len-thanh-diem-den-chien-luoc-cua-doanh-nghiep-phap-20251114065544375.htm