French firms seek investment opportunities in HCM City

French Ambassador to Viet Nam Bertrand Lortholary said that French businesses were interested in investing in the country because of its favourable investment policies and stable economic growth, particularly compared to other Southeast Asian countries.

More than 150 Vietnamese and 50 French companies met at the France-Vietnam Business Forum that wrapped up on October 28 in HCM City. — Photo Thanh Vu

Numerous business opportunities exist in various fields, such as infrastructure, health care, tourism, information technology and climate-change adaptation, the ambassador said at a France-Vietnam Business Forum that wrapped up on October 28 in HCM City.

In addition, Viet Nam has signed many free trade agreements with other countries, making it an appealing market for foreign investors.

The EU-Vietnam Free Trade Agreement, to take effect in 2018, will boost bilateral trade through the removal of tariffs and non-tariff barriers as well as streamline import-export procedures.

The city government pledged to give the most favourable conditions to foreign investors to develop their business in the city.

For sustainable development, the city is focusing on reducing traffic congestion, flooding and pollution as well as urban renewal.

France is among the 10 largest investors in HCM City, with 185 projects worth a total of US$848 million, as of the end of July.   

Last year, two-way trade between HCM City and France reached $746 million, an increase of 8.5 per cent compared to the previous year.

More than 150 Vietnamese companies and 50 French companies attended the two-day forum.

Source VNS