Representatives of HCM City's government, the Vietnam Chamber of Commerce and Industry and the International Organisation of La Francophonie co-chair the Francophone business forum. — VNA/VNS Photo Mỹ Phương

HCM CITY — The Việt Nam Chamber of Commerce and Industry (VCCI) and the International Organisation of La Francophonie (OIF) held a Francophone business forum in HCM City on Tuesday.

The forum is among a series of events held in the framework of a visit by the Economic and Commercial Mission of La Francophonie (MECA) from March 21-30.

Dương Anh Đức, Vice Chairman of the HCM City People’s Committee, stressed that there are substantial business and investment opportunities in the southern economic hub, and the city can serve as a launchpad for businesses of the OIF to join regional and global supply chains.

He pointed out that OIF enterprises can exploit opportunities brought about by free trade agreements that Việt Nam is a member, such as the EU-Việt Nam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

Hoàng Quang Phong, Standing Vice Chairman of the VCCI, said Việt Nam and other OIF member countries have complementary conditions to develop together.

Việt Nam possesses necessary conditions to help enhance the connectivity within the organisation and form a closed-loop supply-consumption chain, spreading from Africa to Europe and North America. Meanwhile, the Francophone economic space offers a big market for the Southeast Asian nation.

Việt Nam has set up trade ties with 44 out of 54 OIF member countries. Sixteen OIF countries are running investment projects in Việt Nam. A number of state-run groups and private firms of Việt Nam have also invested in Africa, mainly in oil and gas, telecommunications, hydroelectricity and wood processing.

OIF General Secretary Louise Mushikiwabo emphasised that the presence of representatives from 25 OIF member countries at the forum has reflected their expectations for cooperation opportunities in Việt Nam.

Lauding Việt Nam’s dynamism, she said the country offers many opportunities for foreign businesses and investors, which has been highly valued by OIF businesses.

The visit to Việt Nam by the Francophone delegation is part of the efforts to implement the Francophone Economic Development Strategy from 2020-25.

Founded in 1970, the OIF now has 88 member states and observers. Together they account for 16 per cent of the global population and 16.5 per cent of the world’s total assets.

Since becoming an OIF member in 1979, Việt Nam has consistently strengthened partnership with the Francophone community and been an active and core member of the organisation in Asia-Pacific. It hosted the Francophone Summit in 1997.

Vietnamese Ambassador Trần Thị Hoàng Mai was appointed as head of the Francophone representative office in West Africa last year. She is the first Asian to head a regional OIF office overseas. — VNS