France is ready to share its experience in building high-speed railways with Vietnam.

With experience in implementing about 2,800km of high-speed railway with many different financial models, France is ready to share its experience with Vietnam.

Vietnam wants to promote investment flows from France

At the annual Vietnam-France High-Level Economic Dialogue Forum on November 6, Deputy Minister of Finance Tran Quoc Phuong informed about the outstanding socio-economic results that Vietnam has achieved in recent times, in the context of complex developments and unpredictable fluctuations in the world.

Accordingly, Vietnam's economy is strong enough to maintain its resilience to external shocks, maintaining a growth rate among the highest in the world.

In 2025, Vietnam's GDP is expected to increase by over 8%. The size of the economy will increase from 346 billion USD in 2020 to 510 billion USD in 2025, up 5 places, to 32nd place in the world ; GDP per capita in 2025 is estimated to reach about 5,000 USD, 1.4 times higher than in 2020, entering the upper middle-income group. The economic structure and growth quality will change positively...

Deputy Minister of Finance Tran Quoc Phuong at the dialogue.

According to Deputy Minister Tran Quoc Phuong, Vietnam is in a pivotal stage, preparing to issue strategic orientations for the 2026-2030 period. In particular, public investment is expected to be the main driving force for growth, contributing to achieving the target of continuous double-digit growth in the next 5 years.

Strategic infrastructure projects on energy, transportation, digital technology and urban development will be prioritized, opening up many cooperation opportunities for international partners, including France.

Affirming that France is an important traditional partner in Vietnam's international integration strategy, Deputy Minister Tran Quoc Phuong said the two sides have achieved many positive results in economic cooperation and are moving towards new, more strategic areas of cooperation.

Regarding trade and investment, the two sides agreed to continue effectively implementing the Vietnam - EU Free Trade Agreement (EVFTA). At the same time, Vietnam asked France to soon ratify the Vietnam - EU Investment Protection Agreement (EVIPA) to perfect the legal framework and create a more transparent and stable investment environment.

Vietnam wants to promote investment flows from France in areas of strength such as sustainable development, renewable energy, high technology, transportation and modern agriculture.

The annual Vietnam - France High-Level Economic Dialogue Forum was held in Vietnam on November 6.

Promoting cooperation on urban and high-speed railways

Regarding cooperation in the field of transport, Ms. Magali Cesana - Director of the Department of Bilateral Affairs, Internationalization of French Enterprises and Foreign Attraction, General Department of the French Treasury, said that the Hanoi urban railway line No. 3 project is one of the typical projects for cooperation between the two countries.

The elevated section of the metro line has been put into operation since August 2024. Construction work on the underground section is being accelerated, but progress is still slow. Ms. Magali Cesana said she had a meeting with Hanoi leaders to discuss this issue.

“The UJV consortium and the Hanoi Urban Railway Management Board (MRB) have submitted a new proposal to complete underground works such as power supply and telecommunication signals, aiming to complete them before the end of the year,” said Magali Cesana. The two sides need to continue negotiating to agree on costs and contract value.

In response, a representative of Hanoi City said that the UJV joint venture is offering a price higher than Vietnam’s regulations, so it needs to be re-evaluated. “Hanoi will request MRB to specifically report on the problems so that the authorities, investors and contractors can resolve them soon,” said a representative of Hanoi City.

Ms. Magali Cesana, Director of Bilateral Affairs, Internationalization of French Enterprises and Foreign Attraction, General Directorate of the French Treasury.

Regarding the project to renovate the Hanoi - Hai Phong railway line , the representative of the French Republic said that it had approved a non-refundable grant of 500,000 euros to conduct a pre-feasibility study for the project. However, this amount was not enough to implement, so the French side proposed that the French Development Agency (AFD) provide an additional 400,000 euros from the European Union's non-refundable aid fund.

According to a representative of the Ministry of Construction, it is expected that in November, the French side and the railway management board will agree on the coordination content for the Ministry to approve, and the project can be implemented from December.

Regarding the North-South high-speed railway project , the French side affirmed its willingness to share experience with Vietnam as it has deployed about 2,800km of high-speed railway, with many different financial models.

In this project, the Ministry of Construction requested France to provide technical support and human resource training, including a training program for 120 domestic officials and the selection of 30 people for specialized training at the Railway Training Center in Morocco.

Regarding development cooperation, the need to mobilize capital for infrastructure investment and sustainable development in Vietnam in the coming time is very large. The Vietnamese Government is perfecting the legal framework for mobilizing and managing ODA capital and foreign preferential loans, aiming for transparency, efficiency and conformity with international practices.

In this process, Vietnam hopes to continue receiving the support of partners with advanced technology and development management experience, including France.

Vietnam is currently France's second largest trading partner in the ASEAN bloc, while France is Vietnam's fourth largest trading partner in the EU bloc.

Regarding investment, up to now, France has more than 700 investment projects in 16 economic sectors of Vietnam, with a total registered capital of about 4 billion USD, ranking 16th out of 151 countries and territories investing in Vietnam. Vietnam has 22 investment projects in France with a total registered capital of about 40 million USD.

The key point for Vietnam to achieve double-digit growth target To achieve the target of average GDP growth of 10%/year, Vietnam needs to identify that innovation in the growth model will be the turning point for this target.

Source: https://vietnamnet.vn/phap-san-sang-chia-se-kinh-nghiem-lam-duong-sat-toc-do-cao-voi-viet-nam-2460112.html