Deputy Prime Minister Hồ Đức Phớc speaks at the meeting. — Photo VNA

HÀ NỘI — Deputy Prime Minister Hồ Đức Phớc has affirmed the Vietnamese Government’s commitment to creating favourable conditions for foreign enterprises, including those from France, to accelerate operations and achieve greater successes in the Vietnamese market.

The Deputy PM held a working session with Vice Chairman of the Mouvement des Entreprises de France (MEDEF) Francois Corbin - the largest employer federation in France, who is also Special Representative of the French Minister for Europe and Foreign Affairs for economic relations with ASEAN countries, along with over 40 French businesses in Hà Nội on Tuesday.

Phớc expressed his pleasure at the recent positive development of Việt Nam-France relations across various fields, noting that France became the first EU country to establish a comprehensive strategic partnership framework with Việt Nam during Party General Secretary and State President Tô Lâm’s official visit to France in October 2024.

Economic cooperation remained a key pillar in the partnership, with special focus on infrastructure, transport, agriculture, renewable energy and sustainable development, he stressed.

The Deputy PM praised MEDEF’s role in investment promotion and trade activities, contributing significantly to France’s position as a leading European partner in trade, investment and development aid to Vietnam.

France ranks fourth among EU countries in trade with Việt Nam. In 2024, bilateral trade reached over US$5.4 billion, up 12.9 per cent from 2023. Việt Nam is also France’s second largest ASEAN trade partner after Singapore.

France is the second largest foreign investor in Việt Nam with registered capital totalling $3.96 billion as of the end of April 2025.

Deputy PM Phớc highlighted the opening of the Nhổn-Hà Nội urban railway line in August 2024 - a flagship project in Việt Nam-France economic cooperation - which has positively contributed to urbanisation and improved living standards.

However, he underlined that there remained great potential to deepen trade, investment and economic cooperation, urging full use of the benefits from the EU-Việt Nam Free Trade Agreement (EVFTA) and the EU-Việt Nam Investment Protection Agreement (EVIPA). He called on MEDEF and French businesses to advocate for the French Parliament’s early ratification of EVIPA to create a favourable legal framework for European and French companies to expand investment and business in Việt Nam.

Affirming Việt Nam’s steadfast commitment to building an independent, self-reliant economy with active, effective international integration, the Deputy PM also updated on Việt Nam’s positive socio-economic achievements so far in 2025.

He cited three key Party resolutions that provide new momentum for development - Resolution 57 on breakthrough development in science and technology, Resolution 68 on private sector development and Resolution 66 on law building and enforcement. Việt Nam is also streamlining its administrative system, reducing over 100,000 public officials and employees to boost resources for development and labour productivity.

Acknowledging France’s strengths in high technology, sustainable development, renewable energy, infrastructure, transport and agriculture, the Deputy PM urged MEDEF to intensify investment connections and business cooperation in these sectors. He expressed his hope for France's support in industrial projects, including auxiliary industries, processing, manufacturing and transport equipment.

Recognising France’s leading position in retail and distribution, he encouraged expanding cooperation with Vietnamese firms to bring Vietnamese goods into global distribution channels.

In renewable energy, he called on MEDEF to continue supporting credit and technical cooperation to improve human resources, promote energy transition and innovation in Việt Nam, share expertise and technology in hydrogen production and carbon capture/use linked to energy production from coal, oil, and gas and continue involvement in infrastructure and urban transport projects, including modernising Việt Nam’s national railway network.

He expressed his confidence that MEDEF, with its prestige and network, would continue effectively supporting and connecting business and investment communities of both countries.

Francois Corbin, Vice Chairman of the Mouvement des Entreprises de France (MEDEF), speaks at the meeting. —Photo VNA

Commenting on Việt Nam’s achievements, Corbin said France and other countries were impressed by Việt Nam’s recent growth, driven by reforms and development of a highly competitive industrial base. 

He also noted that Việt Nam was one of the few countries worldwide to maintain growth during the COVID-19 pandemic and expressed admiration for past growth and confidence in future development.

Corbin said that although bilateral trade remained modest, they had great potential to grow, with businesses from both countries complementing each other. The upgrade of the partnership to a comprehensive strategic partnership would be a foundation for more dynamic cooperation, he said.

Business cooperation in the private sector would be a pillar of the bilateral relationship, he said, adding that Việt Nam and France shared a trusted economic partnership, and France would be committed to building a cooperative, prosperous relationship for the benefit of both nations.

At the meeting, representatives from French businesses in transport, logistics, engineering, digital technology, renewable energy, agriculture, urban planning and finance introduced their capabilities and expressed strong interest in deepening cooperation with Việt Nam in priority sectors.

Leaders from various Vietnamese ministries discussed key topics for French companies like green growth, and infrastructure, highlighting opportunities for cooperation and encouraging Vietnamese investment in France.

They agreed to hold investment conferences and forums in France to boost collaboration between French businesses and Vietnamese sectors, aiming to promote joint projects and strengthen ties for mutual prosperity. — VNS