HCM City (VNA) – Vietnam, with an impressivegrowth speed, has become an attractive destination for French investors, saidparticipants at the France-Vietnam business forum, whichtook place in Ho Chi Minh City on November 4.

Henri-Charles Claude, President of the French Chamber ofCommerce and Industry in Vietnam (CCIFV), highlighted the significant growth ofVietnam in recent years, which he said creates big opportunities for foreigninvestors, including those from France.

According to him, Vietnam and France have recorded positiveeconomic cooperation but yet to fully tap their potential. He named a number offields good for stronger bilateral engagements like infrastructure, digitaltechnology, health, culture, and education.

Jean-Jacques Bouflet, Vice Chairman of the European Chamberof Commerce in Vietnam (Eurocham), said Vietnam is among countries which havesigned the largest number of bilateral and multilateral free trade agreements(FTA), particularly its involvement in the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership, and in FTAs with the ASEAN and the EU.

He said the EU – Vietnam FTA will create big impacts on thesides’ trade and investment through favourable legal frameworks and businessopportunities. Saying the pact is in the final stage, he recommended French andother European countries speed up their networking in Vietnam to gain marketadvantages.

Valentin Tran, director of Andros group, a French companyspecialised in farm produce, said his company chose Vietnam to be its strategicinvestment destination in Asia as the country offers various conditions for itslong-term development.

Accordingly, Vietnam has fast growth, ample productionmaterial sources, young population, increasing consumption demand, as well asbroad regional and international connections and integration. It can be agateway for investors to reach its neighbouring markets like Thailand or Cambodia.

Fabrice Carrasco, Managing Director of Kantar Worldpanel forVietnam and the Philippines, informed the forum that Vietnam’s domesticconsumption demand grows 12 percent per year on average. Purchasing power hasdoubled that of five years ago and will be two times higher than the currentlevel in a decade, he added.
Vietnamese consumers are spending more on educational, food,health care and beauty services, he said.

Participating French companies said Vietnamese and Frenchfirms should boost innovation and technology transfer cooperation.

They urged the Vietnamese Government to updateits investment attraction policy and build a safe and transparent legalcorridor to facilitate the implementation of public-private partnership ininfrastructure, transport and urban projects.-VNA