The fifth-largest economy in ASEAN with 100 million inhabitants, Vietnam is among the most dynamic countries in the world, with an impressive growth trajectory expected to bring it even higher within the region in coming years.
The country has undergone rapid economic development, posting steady growth of nearly 7 per cent for several years and equally encouraging forecasts for the future.
Why Vietnam?
These strong results are the outcome of an international openness policy, illustrated by Vietnam's gradual accession to ASEAN in 1995, then to the WTO in 2007, as well as by the proliferation of bilateral treaties and the signing of a trade agreement with the European Union, aimed at ultimately eliminating 99% of tariffs on goods between the two parties. This is the most ambitious trade agreement the EU has signed with a developing country.
France shares a complex and vibrant history with Vietnam. While trade between our two countries is focused on a few key sectors (aeronautics, pharmaceuticals, agri-food to Vietnam and electronics, textiles to France), many French companies have chosen to set up in Vietnam to access its domestic market and/or support their regional development.
The significance of the recently established comprehensive strategic partnership between France and Vietnam marks a crucial step in strengthening bilateral relations between the two countries. This partnership aims to encourage cooperation in strategic areas and deepen economic and cultural exchanges.
Vietnam benefits from an ideal strategic location at the heart of ASEAN, close to major Asian markets. Its coastline, which provides direct access to major global shipping routes, offers favorable conditions for trade.
All this makes Vietnam a land of opportunity and investment, provided one understands the local business practices and is familiar with an evolving legal framework.
The CCIFV, with its experience in Vietnam since 1998, has developed sectoral and bicultural expertise to support businesses. Our teams are available to support your projects and help you achieve your goals.
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