France ranks 16th out of 114 countries and territories investing heavily in Vietnam, with 549 valid investment projects and a total registered investment capital of 3.8 billion USD.
Minister of Industry and Trade Nguyen Hong Dien received the new French Ambassador to Vietnam on the afternoon of November 13, 2023.
This information was stated at the working session between Minister of Industry and Trade Nguyen Hong Dien and the new French Ambassador to Vietnam, Olivier Brochet, on the afternoon of November 13.
2023 marks a special milestone in the relationship between Vietnam and France as the two countries celebrate the 50th anniversary of establishing diplomatic relations and the 10th anniversary of upgrading their strategic partnership.
As of February 2023, France ranked 3rd among European countries (after the Netherlands and the UK) and 16th out of 114 countries and territories investing in Vietnam, with 549 valid investment projects, total registered investment capital reaching 3.8 billion USD.
In the opposite direction, Vietnamese enterprises have invested in France in 09 projects with a total investment capital of 3 million USD.
In terms of trade, France is currently Vietnam's fourth largest trading partner in the EU and is a market that accounts for a large proportion of trade relations between Vietnam and Europe.
According to the Ministry of Industry and Trade, Vietnam - France trade turnover achieved good growth with an average growth rate of 15.7% per year in the period 2011-2019.
Minister Nguyen Hong Dien said: "Vietnam-France investment and trade are being strongly supported by the EVFTA, which came into effect in August 2020.
Vietnam's exports to France are rich and diverse, including: footwear, textiles, household appliances, agricultural, forestry and aquatic products, rattan and bamboo products... and imports mainly from France are high-value items with high intellectual and technological content, including pharmaceuticals, machinery, equipment and means of transport.
According to Vietnam Customs data, in 2022, two-way import and export reached 5.3 billion USD, up 11.1% compared to 2021. Of which, export reached 3.7 billion USD, up 15.2% and import reached 1.6 billion USD, up 2.8%.
However, in the context of the world economy still having many instabilities, unpredictable fluctuations, declining demand and high inflation rate in the EU, the trade turnover between the two countries in the first 9 months of 2023 only reached over 3.5 billion USD, down 10.2% compared to the same period in 2022, of which Vietnam's exports to France reached 2.4 billion USD and imports reached 1.1 billion USD.
Ambassador Olivier Brochet said: "During his term, he will prioritize issues related to strengthening cooperation in combating climate change, maintaining biodiversity, and moving towards sustainable development; supporting Vietnam in adapting, building legal standards, effectively utilizing the EVFTA, and enhancing economic relations between France and Vietnam."
"French businesses will bring to Vietnam products with strengths in the fields of pharmaceuticals, agriculture, and food processing, while supporting Vietnam in its sustainable development and emission reduction roadmap," Ambassador Olivier Brochet pledged.
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