Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc. Photo: MPI

Within the framework of the 12th Vietnam-France decentralized cooperation conference taking place from April 13-16, in Hanoi, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc appreciated the conference's activities to strengthen cooperation between localities of the two countries.

According to Deputy Minister Nguyen Thi Bich Ngoc, currently, Vietnam is implementing the National Strategy on green growth, accelerating economic restructuring, innovating the growth model, with environmentally sustainable development and social justice.

In that context, the potential and opportunities for cooperation between Vietnam and France in the coming time are huge.

Along with that, Vietnam encourages and prioritizes attracting quality, focused foreign investment in association with the implementation of policies to support enterprises to promote investment in science and technology, improve production capacity to meet and join the global supply chain.

Vietnam prioritizes foreign investment in the fields of high technology, innovation, green energy, renewable energy, finance, banking, healthcare, training high-quality human resources, infrastructure, healthcare, and pharmaceuticals.

"These are the areas where France has strengths and the two economies of Vietnam and France are complementary, still have a lot of potential and room for cooperation and development in the future," said Deputy Minister Nguyen Thi Bich Ngoc.

12th Vietnam-France decentralized cooperation conference from April 13-16. Photo: MPI.

Regarding Vietnam-France relations, Deputy Minister Nguyen Thi Bich Ngoc emphasized that the two countries have a traditional strategic partnership on the pillars of trade, economy and investment.

Up to now, France's total registered investment capital in Vietnam has reached over US$3.8 billion, ranking 16th out of 143 countries and territories investing in Vietnam.

The total import-export turnover of Vietnam and France in 2022 has reached US$5.33 billion; In which, Vietnam's export turnover to France reached US$3.7 billion and Vietnam's import turnover from France reached US$1.63 billion.

In terms of official development assistance (ODA), France is one of the earliest ODA providers and leading in Europe in terms of committed capital, with the average capital increasing steadily over the years. It is a stable and highly effective cooperation model.

Vietnam - France have the potential to expand cooperation

According to the Ministry of Planning and Investment, in 2022, despite difficulties and challenges due to domestic and international contexts, thanks to the right and timely policies, Vietnam has achieved important results in socio-economic development.

Vietnam maintains a stable macro-economy, major balances are ensured. Monetary and fiscal policies are flexible and effective. The investment and business environment continues to improve, which is appreciated by the international community, especially in realizing the dual goal of both preventing the Covid-19 pandemic and developing the economy.

Accordingly, Vietnam has issued fiscal and monetary policies to support the socio-economic recovery and development program, support businesses in production and business activities, support social security.

In the difficult context, Vietnam's economy still achieved positive growth. Investment and trade activities continued to achieve positive results, putting Vietnam in the top 20 countries attracting the largest FDI and the top 20 countries with the largest commercial scale in the world.

Deputy Minister of Planning and Investment also affirmed that Vietnam is an active and responsible member of ASEAN and the Asia-Pacific region.

France is a key member of the European Union. Vietnam and France are both members of the Francophone community as well as the EU-Vietnam Free Trade Agreement (EVFTA). These are important foundations and premise for expanding cooperation, promoting trade and investment between the two countries.

“As a general advisory agency on foreign investment and official development assistance (ODA), the Ministry of Planning and Investment is committed to always sharing, accompanying and creating favorable conditions for foreign investors. Among them are French investors who conduct effective, sustainable and long-term business investment in Vietnam," said Deputy Minister Nguyen Thi Bich Ngoc.

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