Southeast Asia Information Port News (www.dnyxxg.com) – On the morning of November 6th, the Vietnamese Ministry of Finance and the French Treasury jointly held the annual high-level economic dialogue between Vietnam and France in Hanoi.
At the dialogue, the two sides discussed the macroeconomic situation in Vietnam and France, cooperation in trade and investment, development assistance, and bilateral funding and cooperation in the fields of transportation, energy, agriculture and environment, finance, and banking.
Tran Quoc Phuong, Deputy Minister of Finance of Vietnam, emphasized that France is an important partner in Vietnam's foreign policy, and that in recent years, cooperation between the two sides in various fields has yielded practical and positive results.
Magali Cesana, Director of Bilateral Affairs and the Department of Internationalization and Foreign Investment Attraction of the French Treasury, stated that France is committed to working with Vietnam to strengthen cooperation between the two countries' government agencies and private sectors through specific cooperative projects, contracts, and plans.
France hopes to continue to support Vietnam in its economic reform and development plans, particularly in the areas of transportation and energy infrastructure, to jointly address global challenges while ensuring national sovereignty in the development process.
Tran Quoc Phuong stated that both sides reached a consensus on further effectively implementing the EU-Vietnam Free Trade Agreement (EVFTA) and promoting French investment in Vietnam in areas such as sustainable development, renewable energy, high technology, transportation, infrastructure, and agriculture. Vietnam also suggested that France ratify the EU-Vietnam Investment Protection Agreement (EVIPA) as soon as possible.
Both sides agreed to closely coordinate the implementation of signed cooperation agreements to ensure their progress and effectiveness. Meanwhile, relevant agencies of both countries will study and explore new cooperation opportunities in areas such as energy, finance, and banking.
Margaret Cesana endorsed Vietnam's cooperation proposals and pledged to continue sharing experience and providing support to Vietnam in areas where France has an advantage.
Both sides believe that despite the complex and volatile global economic, political, and social situation, with the determination of the Vietnamese government, departments, and localities, and the cooperation of the French government and partners, bilateral economic and financial cooperation will continue to develop strongly and pragmatically, making an important contribution to promoting the integration of the two economies.
Vietnam-France relations have a deep historical connection. Since the establishment of diplomatic relations in 1973, relations between the two countries have made significant progress in all areas. France was the first EU member state to establish a comprehensive strategic partnership with Vietnam, demonstrating the high importance both countries place on deepening bilateral relations.
Economic, trade, and development cooperation is considered one of the pillars of the Franco-Vietnam comprehensive strategic partnership. Currently, Vietnam is France's second-largest trading partner in ASEAN, while France is Vietnam's fourth-largest trading partner in the EU. In 2024, bilateral trade exceeded US$5.4 billion, a year-on-year increase of 12.9%; Vietnam's exports amounted to US$3.4 billion, while imports exceeded US$2 billion.
Regarding investment, France currently has over 700 investment projects across 16 economic sectors in Vietnam, with a total registered capital of approximately US$4 billion, ranking 16th among 151 countries and regions investing in Vietnam. Meanwhile, Vietnam has 22 investment projects in France, with a total registered capital of approximately US$40 million.
In terms of development cooperation, France is one of Vietnam's first and most important partners in official development assistance and concessional loans. French aid projects cover multiple regions and sectors throughout Vietnam. (End)
