The Economic Dialogue Forum between Việt Nam and the French Republic is held on November 6 in Hà Nội. — VNA/VNS Photos

HÀ NỘI — Việt Nam and France will increase cooperation to expand French investment in areas where France has established strengths, including sustainable development, renewable energy, high technology, transportation, infrastructure and agriculture.

Deputy Minister of Finance Trần Quốc Phương made the remarks at the annual high-level Economic Dialogue Forum between Việt Nam and the French Republic held on November 6 in Hà Nội.

Trần Quốc Phương affirmed that France is an important partner in Việt Nam’s foreign policy and that cooperation between the two countries in recent years has achieved positive and substantive results.

He said the two countries will also continue to effectively implement the EU-Việt Nam Free Trade Agreement (EVFTA). At the same time, Việt Nam has proposed that France soon ratify the EU-Việt Nam Investment Protection Agreement (EVIPA).

The Deputy Minister said Việt Nam’s capital demand for development in the coming years is very large. To meet this need, the Government has been working to improve the legal framework for mobilising, managing and using ODA capital and preferential loans from foreign donors, ensuring a transparent and effective mechanism.

Việt Nam hopes to receive continued support from partners, especially those with advanced technology and a long tradition of development cooperation with Việt Nam, such as France.

Magali Cesana, head of Bilateral Affairs and International Business Development Department (SABINE) of the French Treasury, reaffirmed France’s commitment to accompanying Việt Nam in the coming period.

She said France would continue to strengthen bilateral cooperation through specific projects, contracts and joint programmes between government agencies and the private sector.

According to Cesana, France is highly interested in and wishes to continue supporting Việt Nam’s economic reform and development programmes, particularly in transport and energy infrastructure projects, to jointly address global challenges such as climate change and digital transformation, while ensuring national sovereignty throughout the development process.

She agreed with Việt Nam’s cooperation proposals and affirmed that France will continue to support and share its experience with Việt Nam in areas where it holds particular advantages.

Both sides also agreed to closely coordinate in implementing signed cooperation agreements to ensure progress and efficiency. Relevant agencies from both countries will explore and seek new cooperation opportunities in the fields of energy, finance and banking.

A French customer is tasting Vietnamese lychees in a supermarket in France. — VNA/VNS Photo

The high-level economic dialogue between Việt Nam and France is an annual forum co-chaired by Việt Nam’s Ministry of Finance (formerly the Ministry of Planning and Investment) and France’s Ministry for the Economy, Finance and Industrial and Digital Sovereignty. The event is held once a year, alternating between the two countries.

The forum was established under a joint initiative of the two governments aimed at discussing cooperation needs across various fields between Việt Nam and France.

At this year’s forum in Hà Nội, both sides discussed macroeconomic issues, trade and investment cooperation, development assistance and financing, as well as collaboration in sectors such as transportation, energy, agriculture, environment, finance and banking.

The two sides also acknowledged that, given the current global economic, political and social volatility, their cooperation programmes and projects may face many challenges.

However, economic and financial cooperation between the two countries is expected to continue developing strongly and substantively in the coming years, contributing significantly to the connection between the two economies.

Since the establishment of diplomatic relations in 1973, the Việt Nam–France relationship has made remarkable progress across all fields, including politics and diplomacy, trade and investment, development cooperation, culture, education and training.

This foundation enabled the two countries to elevate their relationship to a strategic partnership in 2013 and a comprehensive strategic partnership in 2024.

A view of SCAVI Hue Company in manufacturing lingerie, swimwear, sportswear and protective clothing, a French invested project located in Phong Điền Industrial Park, Huế. — VNA/VNS Photos

France is the first EU country to establish a comprehensive strategic partnership with Việt Nam, representing the highest level of relationship in Việt Nam’s overall foreign policy.

Cooperation in economic and trade development has been identified as one of the key pillars of this comprehensive strategic partnership.

In terms of trade, Việt Nam is currently France’s second-largest trading partner within ASEAN, while France ranks as Việt Nam’s fourth-largest trading partner within the EU.

In 2024, bilateral trade reached over US$5.4 billion, up 12.9 per cent from 2023, with Việt Nam exporting more than $3.4 billion and importing over $2 billion.

Regarding investment, France currently has more than 700 active investment projects in Việt Nam across 16 economic sectors, with a total registered capital of approximately $4 billion.

This places France 16th among 151 countries and territories investing in Việt Nam. Meanwhile, Việt Nam has 22 investment projects in France with a total registered capital of around $40 million.

Meanwhile, France remains one of Việt Nam’s leading donors of ODA and concessional loans, primarily through two key funding agencies, the General Department of the French Treasury and the French Development Agency (AFD). Projects financed by French ODA and preferential loans are implemented in diverse sectors. — VNS