france investments profile in vietnam - lnt &...

France Investments Profile in

Vietnam

Investment Profile

2 France Investments Profile in Vietnam


Contents

France Investments Profile in Vietnam ........................................................... 1

Foreword ......................................................................................................................................................... 4

VIETNAM ....................................................................................................................................... 5

GDP Growth .................................................................................................................................................... 6

Population ....................................................................................................................................................... 6

Financial Health ............................................................................................................................................ 7

Key Sector Strengths .................................................................................................................................. 7

Opportunities ................................................................................................................................................. 8

Overview of Key Legal Issues .............................................................................................................. 10

VIETNAM- FRANCE RELATIONS ......................................................................................... 12

Key French Organizations in Vietnam ............................................................................................. 13

ODA, Other Government Assistance and Investment Trend for French Businesses ... 13

FDI Influx from France for the Last 5 Years .................................................................................. 13

French Companies in Vietnam ............................................................................................................ 14

Key Agreements ......................................................................................................................................... 15

Recent Press Announcements ............................................................................................................. 15

LNT & PARTNERS PROFILE .................................................................................................. 16

About Us ........................................................................................................................................................ 17

Our Team ...................................................................................................................................................... 17

Our Lawyers ................................................................................................................................................ 17

Our Practice Groups ................................................................................................................................. 18

Our Rankings............................................................................................................................................... 19

Our Awards .................................................................................................................................................. 20

International Cooperation .................................................................................................................... 21

Our Strategic Partners ............................................................................................................................ 22

Appendix 1 ................................................................................................................................................... 23

Appendix 2 ................................................................................................................................................... 24


Foreword

Vietnam maintains close economic, political and diplomatic ties with France, and the

two countries are frequently engaged in discussions to bolster these ties. In 2013,

France and Vietnam celebrated their 40-year long diplomatic relationship.

Vietnam and France have recognized each other as strategic partners and a proposed

action plan has been put in place to facilitate business operations and investment

between the two countries. In 2012, Vietnam and France achieved bilateral trade of 3.76

billion USD, a figure which had been the result of rapid growth in investment activity

between the two countries. Bilateral trade is expected to continue rising amid Vietnam’s

anticipated entrance into the EU-Vietnam FTA.

France provides a variety of official development assistance in the fields of

infrastructure development, clean energy, vocational training, agriculture,

environmental protection and biodiversity preservation. In the education sector, France

has granted numerous scholarships to Vietnamese students.

As the economy in both Vietnam and the EU undergoes its recovery phase, an increase

in trade is expected to strengthen the French-Vietnamese relationship.

We hope this profile will give you some insight into why French businesses are keen on

expanding their operations in Vietnam and how your business will benefit from also

entering this country of opportunities.


VIETNAM


GDP Growth

Thanks to its strengthening export-oriented economy, Vietnam’s GDP has been

growing year by year, much of which has been driven by key industries such as

manufacturing, electronics and agriculture.

As the Vietnamese Government continues to implement its roadmap of liberalizing the

country’s economy, GDP growth is expected to continue to remain stable and/or

increase. Vietnam is expected to benefit from the EU-Vietnam Free Trade Agreement.

Furthermore, following Vietnam’s much awaited entry into the Trans-Pacific

Partnership (“TPP”) Agreement in late 2014 or early 2015, which will effectively tear

down trade barriers with Vietnam’s key trading partners, GDP is expected to grow

rapidly with the anticipated increase in exports.

Population

Vietnam is home to approximately 90 million people and is one of Asia’s most densely

populated countries. Over 70% of the population resides in rural areas, which rely

primarily on agricultural production.

Vietnam has a young population, with working-age adults representing over 50% of the

population. In addition, with the influence of the western world becoming more and

more pronounced, the younger generation is increasingly aspiring to achieve affluent

lifestyles. And with the introduction of jobs and an increase in wages, young people

have more disposable income, creating an ideal market for new products and services.

Graph compiled with data taken from The World Bank


This youthful society presents an opportunity to foreign investors, both in terms of

potential markets and also in terms of human resources. The youth of Vietnam are

better educated than their predecessors and they have the drive to achieve a higher

standard of living, which makes them an eager and diligent workforce.

Financial Health

The Vietnamese Government has taken efforts to curb the country’s recent high

inflation rates, which have hampered investment progress in the past several years.

These efforts have been successful and by the end of 2013, Vietnam’s average annual

inflation rate stood at 6.60%, the lowest it has been in 10 years. As the Government

continues rolling out its fiscal policies to slash inflation, which has decreased further as

of early 2014, investor interest is expected to rise and French businesses will benefit

from the ensuing economic growth.

The Government’s efforts to achieve monetary stability have also been successful. The

exchange rate of Vietnam’s official currency, the Vietnamese Dong (VND), has remained

steady over the course of the past couple of years.

Investors can take comfort in that the days of instability in Vietnam’s economy have

passed. A testament to the country’s positive financial outlook is the year-by-year

increase in the Vietnam Stock Market (VN-Index) and the Government’s continued

efforts to tackle its number of bad debts.

Key Sector Strengths

Electronics Manufacturing

Vietnam’s large supply of low wage workers and favorable tax incentives for the

industry have attracted a growing number of foreign companies assembling or

manufacturing electronics in the country. In 2013, computer and consumer electronics

products and components dominated Vietnam’s total exports.

Textiles

The country also boasts a strong textiles industry and the demand for these products is

expected to increase following entrance into the TPP and EU-Vietnam Free Trade

Agreement. Vietnam’s liberalization of business lines in this sector has led to an

unprecedented investor interest to satisfy the growing demand from U.S., Japanese and

European markets. Growth is expected to jump from 12-13% to 15-20%, reaching 20

billion USD in 2017 and projected to surge to 50 billion USD by 2025.


Agriculture

With over 70% of the population living in rural areas, exports in agriculture remain one

of Vietnam’s major contributors of GDP. The country’s tropical climate and unique

geographical location have made it ideal for producing certain crops. Today, Vietnam is

one of the world’s largest exporters of rice, cashew nuts, coffee and black pepper. Other

major exports of the country include seafood, rubber and wooden products.

Banking

While the Vietnamese banking industry has traditionally been restrictive against

prospective foreign stakeholders, the Government has recently passed new regulations

that will allow investors to acquire a larger stake in the country’s national banks. The

loosening of these restrictions is expected to drive further interest in this industry as

large infusions of capital will be needed to upgrade the systems, operations and

branches of the current commercial and retail banking system.

Logistics

The growth potential of Vietnam’s logistics industry has been expanding as a result of

the country’s increasing export turnover. Foreign interest in this industry has been

supported by recent figures provided by the Deputy Minister for Transport, who cited

that local logistics providers are only able to handle 20% of market demand (with the

remaining 80% being handled by foreign companies).

Tourism

For services, Vietnam’s tourism industry has attracted some of the largest FDI

commitments into the country. In 2012, Vietnam welcomed over 7 million visitors.

These figures, which are growing, make tourism a key growth industry driven by strong

global and domestic demand.

Opportunities

While challenges remain in the country’s regulatory framework, Vietnam remains an

attractive destination for foreign investment – not least because of the Government’s

efforts to open its market to investors.

Today, almost all investment sectors in the country are open to foreign investors (many

as a result of the WTO commitments) and the rollout of further market openings is

expected to take place within the next 1-2 years. On the agenda is also Vietnam’s long

awaited entrance into EU-Vietnam Free Trade Agreement and the Trans-Pacific

Partnership Agreement (TPP), the conclusion of which is expected to considerably drive

demand for commodities from the country.


It is, therefore, no surprise that in the 2014 ASEAN Business Outlook Survey by the U.S.

Chamber of Commerce, Vietnam was ranked as the second most popular ASEAN

destination for investment (after Indonesia). As a positive outlook, 85% of survey

respondents in Vietnam further expected profits to increase in 2014.

The total amount of FDI has been increasing since 2011 and it is expected to continue in

years to come.

This positive outlook, which is driven by a stabilizing economy, a liberalization of the

market and a dynamic labor force, has placed Vietnam on the radar as an emerging

market to watch.

0

200

400

600

800

1000

1200

1400

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

2008 2009 2010 2011 2012 2013

Total FDI influx into Vietnam (US$ mil.)

Total number of FDI projects in Vietnam

FDI Trend (2008-2013)

2008 2009 2010 2011 2012 2013

Total FDI influx into Vietnam

(million USD)

15,428.9 16,345.4 12,100.9 9,914.5 7,854.1 14,272.4

Total number of FDI projects in

Vietnam 1171 839 833 919 1100 1275


Overview of Key Legal Issues

Investment Process in Vietnam

In 2007, Vietnam acceded to the WTO, which expanded foreign investors’ access to

Vietnamese markets. Vietnam’s WTO commitments have drastically altered the

investment environment by largely superseding the protective legislation which was

one of the greatest challenges to doing business in Vietnam.

Since accession, according to the Ministry of Finance, wholly foreign-owned entities

have become the most common legal structure for FDI, followed by joint ventures and

then BOT, BT, BTA and BCC contract arrangements.

Licenses for foreign investors will be largely granted on the discretion of the ministries.

The process may take approximately anywhere from 3 months (average time for the

service sector) to 12 months (for large-scale projects needing prime ministerial

approval).

However, there has been a proposal to amend the current Law on Enterprises, which is

expected to transform Vietnam into a more investment-friendly environment for

investors. In practice, foreign investors in Vietnam are often required to obtain HS

codes and investment licenses before commencing their business activities. The

proposed amendments will remove these hurdles; instead, foreign investors will only

be required to obtain a Business Registration Certificate in the same manner as

Vietnamese companies. Moreover, the abolition of HS codes will allow businesses to

engage in any business activities (other than those otherwise specifically prohibited

such as activities in weaponry and drugs).

Restrictions

Prior to investing in Vietnam, certain requirements, such as demonstration of financial

capacity and industry experience, will generally need to be fulfilled to the satisfaction of

the authorities.

Furthermore, while investment in a vast majority of sectors in Vietnam is open

nowadays, certain sectors will demand for additional hurdles to be met. For example,

projects in sectors that may have an adverse environmental effect (e.g., manufacturing)

will likely require an environmental impact assessment report.

FDI approval for special services, such as banking, insurance, finance, and securities,

will also be subject to higher scrutiny by the authorities, and satisfaction of more

stringent conditions may be needed


Taxation

There is a double tax avoidance agreement in force between Vietnam and France, which

allows taxes paid in one of these countries to be offset against taxes payable in the

other.

Companies are generally subject to the corporate tax rate of 22%, which is applied from

January 1st, 2014 until December 31st, 2015. From January 1st, 2016 onwards, this tax

rate will be lowered to 20%.

Investors may also be able to enjoy preferential tax rates (or even tax exemptions) if

they satisfy some of the range of eligibility requirements set out under Vietnamese law

(e.g., by operating projects in encouraged sectors).

Legal Framework

However, Vietnamese laws are sometimes vague, ambiguous and inconsistent. This

may, at times, lead to inconsistent applications of the law by the authorities. For this

reason, we advise prospective investors to consult with the relevant authorities prior to

carrying out their investment projects if any regulatory ambiguity or inconsistency

arises.

For more information on Vietnam’s legal landscape pertaining to FDI, please refer to the

2014 IFLR Report by Bui Ngoc Hong, Do Huy and Nguyen Xuan Thuy at Appendix 1


VIETNAM – FRANCE RELATIONS


Key French Organizations in Vietnam

French Chamber of Commerce and Industry in Vietnam

The French Chamber of Commerce is a not-for-profit organization which was

established in 1989 with the aim of supporting French businesses and facilitating

French investment into Vietnam. It also plays a role in bolstering relationships with

French business organizations/associations with Vietnamese businesses.

For more information on these organizations, please refer to Appendix 1.

ODA, Other Government Assistance and

Investment Trend for French Businesses

French ODAs are provided with a goal to achieve international solidarity and world

peace. Their goals contain certain objectives such as globally spreading the French

language and culture. Hence, Vietnamese students have been granted scholarship

opportunities by France and French schools. However, their support has now focused

on “development of production”, “infrastructure development”, “agriculture and food

security” and “health and AIDS prevention”. Vietnam received 1.2 billion EURO worth of

ODA from France through 210 projects carried out as of December 2007.

FDI Influx from France for the Last 5 Years

2009 2010 2011 2012 2013

FDI influx from France

(Million USD) 88 N/A 63 109 45

Number of France FDI

Project 32 N/A 20 40 18

0

5

10

15

20

25

30

35

40

45

0

20

40

60

80

100

120

2009 2011 2012 2013

FDI influx from France(Million USD)

Number of France FDI Project


French Companies in Vietnam

No Company Industry

1 BNP PARIBAS Banking

2 AIR FRANCE-KLM GROUP Airline

3 TOTAL Oil & Gas

4 AXA Group Insurance

5 Sanofi Pharmaceutical

6 VINVI Construction

7 Renault Automobile

8 Danone Grocery

9 Natixis Financial services

10 Saint-Gobain Glass & Soil and stone product

11 Air Luquide Chemical

12 Safran Telecommunication

13 Pernod Ricard Grocery

14 Lafarge Glass & Soil and stone product

15 Bouygues Construction


Key Agreements

（i）. EU-Vietnam FTA

Pending

The FTA between EU and Vietnam went into its fifth round of negotiations in November

2013. This FTA is expected to promote the already strong trade relationships between

Vietnam and France (as well as other EU states). The agreement is expected to be

finalized later in 2014. If Vietnam and EU enter into the FTA, it will make Vietnam the

third FTA partner of EU, which will lead to enhanced economic and political relations

between France and Vietnam.

（ii）. Tax Treaties – Double taxation treaty

Signed February 10th, 1993

France and Vietnam signed a tax treaty on 10 February 1993, which came into effect as

of 1 July 1994. The tax treaty is to protect businesses of one country from being

imposed tax by both countries on the same profit pool.

（iii）. Bilateral Investment Treaty (BIT)

Signed May 26th, 1992

Vietnam has a Bilateral Investment Treaty with France. This agreement helps bolsters

the level of investment activity by state-owned enterprises and companies between the

nations.

Recent Press Announcements

(i) Forum nurtures ties with France (April 10th, 2014)

(ii) French textile machinery makers keen to enter Vietnam (April 4th, 2014)

(iii) Vietnam Enjoys EUR2 bln trade surplus with France (March 14th, 2014)

(iv) Vietnam France partnership fosters business opportunities (September 9th, 2013)

(v) Ten months UK exports hit US$3.16 billion (November 23rd, 2013)

For more information on these press releases, please refer to Appendix 2.


LNT & PARTNERS

PROFILE


About Us

LNT & PARTNERS is a leading full-service independently ranked local law firm in

Vietnam with offices in Ho Chi Minh City, Hanoi, Hong Kong (affiliate), and San

Francisco. The firm is among Vietnam’s most prominent, representing a wide range of

multinational and domestic clients, including Fortune Global 500 companies as well as

well-known Vietnamese listed companies on a variety of business and investment

matters.

Our Team

Our Lawyers

Mr. Hong Bui

Practice areas

• Compliance

• Foreign Investment

• M&A

Mr. Huy Do

Practice areas

• Intellectual Property

• Dispute Resolution

• Antitrust/ Competition

Ms. Quyen Hoang

Practice areas

• Corporate

• Employment & Benefits


• M&A

Dr. Net Le

Practice areas

• Banking & Finance

• M&A

• Tax

Dr. Tuan Nguyen

Practice areas

• Antitrust/ Competition

• Bankruptcy


• M&A

Dr. Vinh Nguyen

Practice areas


• Employment &

Benefits

• Tax

Mr. Binh Tran

Practice areas

• Real Estate/ Infrastructure



Mr. Su Tran

Practice areas


• Real Estate/

Infrastructure

• Banking & Finance


Our Of Counsel and Senior Advisor

Our Practice Groups

LNT & PARTNERS has domain expertise in key legal disciplines organized into five

Practice Groups:

(i) Corporate Group: Our highly-regarded corporate team regularly handle M&A

deals, advise on complicated business licenses, guide investors with their

inbound and outbound investments, and navigate regulatory compliance issues

(including in matters of competition, labor and taxation) to deliver

commercially-practical solutions to our clients.

(ii) Dispute Resolution Group: Our award-winning dispute resolution lawyers,

which include two former judges, have represented major companies in both

court and international arbitral proceedings

(iii) Banking and Finance Group: Our banking and finance team has been at the

forefront of millions of dollars’ worth of financial transactions for large financial

institutions, funds, and private companies.

(iv) Intellectual Property/TMT Group: Our IP/TMT professionals have extensive

experience in advising and representing major clients in some of the most

complex and high-profile IP related matters in various industries, including

biotech, pharmaceutical, electronics and software.

(v) Real Estate and Infrastructure Group: Our real estate and infrastructure team

has been behind some of Vietnam’s largest development projects.

Mr. Kiyoshi Hirasawa

Practice areas

• Japan Practice

• Corporate, M&A


Dr. Sy Chung Pham

Practice areas

• Corporate Compliance


• M&A


Our Rankings

PUBLICATION PRACTICE AREAS RANKING YEAR

Asia Pacific

Legal 500

Banking and Finance Leading Lawyers 2013 / 2012

Corporate/ M&A Leading Lawyers 2013 / 2012

Dispute Settlement Leading Lawyers 2013 / 2012

Tax Leading Lawyers 2013 / 2012

Chambers and

partners

Banking and Finance Vietnam Leading

Law Firm

2013 / 2012 / 2011

/ 2010

Corporate/ M&A Vietnam Leading

Law Firm

2013 / 2012 / 2011

/ 2010 / 2009

Projects, Infrastructure &

Energy

Vietnam Leading

Law Firm 2013 / 2012

International

Financial Law

Review (IFLR)

Banking and Finance Notable 2013 / 2012

Mergers & Acquisitions Notable 2013 / 2012

Project Finance Leading Lawyers 2012 / 2011

PLC Which

Lawyer? Recommended Law Firm 2012 / 2011


Our Awards

Leading Law Firm 2014 – Asia Pacific Legal 500

Recognised Firm 2014 – International Financial Law Review

Most Trusted Law Firm of the Year – Lawyers World Magazine

Vietnam Deal Firm of the Year 2014 – Asia Legal Business, a Thomson Reuters Company, SE Asia Awards 2014

Full Service Law Firm of the Year 2014 – Vietnam

Intellectual Property Innovators of the Year – Vietnam

Commitment to Cross-Border Investment – Vietnam

- Acquisition International

Corporate Finance Law Firm of the Year in Vietnam

– 2014 Corporate Intl Magazine Global Award

ALB Award Deal Firm of the Year – Finalist 2013, 2012 Employer of Choice 2012 – ALB 2nd position


International Cooperation

The Firm’s partners have established strong relationships with attorneys at

international law firms such as:

US Law Firms

European Law Firms

Asian Law Firms


Our Strategic Partners

LNT & PARTNERS has developed an active presence across a broad range of industries

through its strategic partnerships with leading industry publications and sector groups,

including:

Vietnam Investment Review

Quang Trung Software City

Colliers International Vietnam


Appendix 1

Key France Organization in Vietnam *1

French Chamber of Commerce and Industry in Vietnam

Ho Chi Minh Office

Landmark, 15è étage, 5B Ton Duc Thang, D.1

Tel: +84 (0)8 3825 8625

Fax: +84 (0)8 3825 8915

E-mail: ccifv.hcm(at)ccifv.org

URL: http://www.ccifv.org/

Hanoi Office

Sofitel Plaza Hanoi, No 1 Thanh Nien, Ba Dinh

Tel: +84 (0)4 3715 2229

Fax: +84 (0)4 3715 2230

E-mail: ccifv.hcm(at)ccifv.org

URL: http://www.ccifv.org/

Vietnam Embassy in France

Address: 61 Rue de Miromesnil 75008 Paris, FRANCE

Tel: (331) 4414 6400

Email: [email protected]

URL: http://ambassade-vietnam.com

http://www.ccifv.org/

http://www.ccifv.org/

mailto:[email protected]


Appendix 2

News about Vietnam *2

April 10th, 2014

Forum nurtures ties with France http://vietnamnews.vn/economy/253455/forum-nurtures-ties-with-france.html

Forum nurtures ties with France

Employees at the Scavi Hue Garment Company in Thua Thien-Hue Province work on a production line. Viet

Nam has called on long-term investment from French firms in the country. — VNA/VNS Photo Danh Lam

PARIS (VNS) — Viet Nam and France will facilitate economic and trade ties on the basis

of open dialogue and trust.

Consensus was reached in the talks held between Minister of Planning and Investment

Bui Quang Vinh and French Minister of Foreign Affairs and International Development

Laurent Fabius in Paris on Monday. The talks were part of the agenda during Vinh's visit

to Paris to attend the second high-level Viet Nam-France economic dialogue. The

ministers described the potential for mutual benefit from developing economic ties as

huge.

http://vietnamnews.vn/economy/253455/forum-nurtures-ties-with-france.html


Both ministers discussed sectors of French strength, such as transport infrastructure,

urban development, nuclear energy, aviation technology and health care, which Viet

Nam is in need for national development.

At a meeting with more than 100 top French firms on the same day, Vinh called on them

to launch long-term operations in Viet Nam. He hailed the host country's progress in

science and technology and corporate governance, which he said are areas requiring

more investment in Viet Nam.

Vinh also briefed them on Viet Nam's economic restructuring and business climate.

With the ASEAN Economic Community being formed by 2015, Viet Nam will serve as a

key gateway to a market of nearly 600 million people. The country is also emerging as a

robust economy in the Asia-Pacific region which accounts for two-thirds of the world

population, he added.

French Business Confederation Vice President and General Director of International

Development Thierry Courtaigne said Viet Nam's dynamic growth and strong reforms

are conducive to French investment.

Counsellor for Economic Affairs at the French Embassy in Viet Nam Michel Drobinak

also spoke highly of the prospects for bilateral cooperation, thanks to Viet Nam's stable

growth and a force of young and skilled workers.

Vinh also answered French investors' questions, giving them a better understanding of

the Vietnamese market. — VNS


April 4th, 2014

French textile machinery makers keen to enter Vietnam http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=161753

French textile machinery makers keen to enter Vietnam

Ms. Ho Thi Kim Thoa/(c: moit.gov.vn)

Textile machinery manufacturers from Vietnam are interested in partnering with

Vietnamese firms for their common interest, Evelyne Cholet, general secretary of the

French Association of Textile Machinery Manufacturers (UCMTF), said at a conference

in Ho Chi Minh City, Vietnam Plus reported.

Ms. Evelyne said French companies operating in the field have advanced technologies

and quality products and would become reliable partners for Vietnamese firms and be

ready to help them avail full benefit of advantages that have come along with

globalization.

Ms. Ho Thi Kim Thoa, Vietnam’s Deputy Minister of Industry and Trade, said Vietnam is

currently among the world’s top five garment and textile exporters, and added that the

industry has seen fast-paced development due to its efforts to integrate into the global

market.

Ms. Thoa said the Government has given importance to creating favourable conditions

for enabling domestic textile enterprises to expand their markets. She added that the

Government has also implemented steps aimed at improving weaving and sewing

techniques.

She suggested that the Vietnam-France business community should increasingly share

experiences and technology transfer, so as to increase the added value of the industry as

well as to further promote bilateral trade.

2014/4/24 Print This Story

http://www.fibre2fashion.com/news/PrintStory.aspx?news_id=161753 1/1

Print This Story

French textile machinery makers keen to enter VietnamApril 4, 2014 - Vietnam

Textile machinery manufacturers from Vietnam are interested in partnering with Vietnamese firms for their

common interest, Evelyne Cholet, general secretary of the French Association of Textile Machinery

Manufacturers (UCMTF), said at a conference in Ho Chi Minh City, Vietnam Plus reported.

Ms. Evelyne said French companies operating in the field have advanced technologies and quality products and

would become reliable partners for Vietnamese firms and be ready to help them avail full benefit of advantages

that have come along with globalization.

Ms. Ho Thi Kim Thoa, Vietnam’s Deputy Minister of Industry and Trade, said Vietnam is currently among the

world’s top five garment and textile exporters, and added that the industry has seen fast-paced development due

to its efforts to integrate into the global market.

Ms. Thoa said the Government has given importance to creating favourable conditions for enabling domestic

textile enterprises to expand their markets. She added that the Government has also implemented steps aimed at

improving weaving and sewing techniques.

She suggested that the Vietnam-France business community should increasingly share experiences and

technology transfer, so as to increase the added value of the industry as well as to further promote bilateral

trade.

The seminar was organized by Vietnam’s Ministry of Industry and Trade, in association with Vietnam Textile

and Apparel Association (VITAS), Vietnam Cotton and Spinning Association (VCOSA), and HSBC Bank

(Vietnam) Limited.

The event was organized in the context of the Vietnamese garment and textile industry continuously growing at

an average rate of 10-15 percent over the past decade, contributing around 10 percent to the country’s GDP

growth.

France is the sixth largest textile machinery exporter in the world with exports of $1.2 billion per annum

supplied to customers in over 115 countries.

Representatives of seven leading French companies—Laroche, N.Schlumberger, superba, Verdol, Stäubli,

Dollfus & Muller, and AESA—participated in the seminar.

http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=161753


The seminar was organized by Vietnam’s Ministry of Industry and Trade, in association

with Vietnam Textile and Apparel Association (VITAS), Vietnam Cotton and Spinning

Association (VCOSA), and HSBC Bank (Vietnam) Limited.

The event was organized in the context of the Vietnamese garment and textile industry

continuously growing at an average rate of 10-15 percent over the past decade,

contributing around 10 percent to the country’s GDP growth.

France is the sixth largest textile machinery exporter in the world with exports of $1.2

billion per annum supplied to customers in over 115 countries.

Representatives of seven leading French companies—Laroche, N.Schlumberger,

superba, Verdol, Stäubli, Dollfus & Muller, and AESA—participated in the seminar.


March 14th, 2014

Vietnam Enjoys EUR2 bln trade surplus with France http://businesstimes.com.vn/vietnam-enjoys-eur2-bln-trade-surplus-france/

Vietnam Enjoys EUR2 bln trade surplus with France Vietnam enjoyed a trade surplus of over EUR2 billion with France last year,

slightly lower than a record EUR2.1 billion seen in 2012.

French customs statistics showed that two-way trade between Vietnam and France

grew 6 percent from 2012 to 3.5 billion EUR, including 2.79 billion EUR in Vietnam’s

exports and 704 million EUR in imports, up 4 percent and 14.7 percent, respectively.

France remains one of Vietnam’s leading European markets despite the regional

economic turndown. It spent 956 million EUR on Vietnam’s mobile phones and

accessories, 484 million EUR on footwear and 323 million EUR on garment, among

others.

Notably, France’s spending on pharmaceutical materials shot up over 300 percent year-

on-year, from 36,000 EUR to 142,000 EUR.

Meanwhile, pharmaceuticals topped Vietnam’s imports from France with a value of

142.6 million EUR, followed by electronic goods and spare parts with 49.7 million EUR

and mechanical products worth 49 million EUR.

Aviation equipment, mainly aircraft and satellites also posted an impressive import

value, from 6 million EUR in 2012 to 106.6 million EUR in 2013

.

Commercial counsellor of the Vietnamese Embassy in France Nguyen Canh Cuong said

Vietnamese exporters of consumer goods see bright prospects in France ahead as their

products well cater to mid-end and low-end French markets.

Source: VOV

http://businesstimes.com.vn/vietnam-enjoys-eur2-bln-trade-surplus-france/


September 29th, 2013

Vietnam France partnership fosters business opportunities http://english.thesaigontimes.vn/Home/society/nation/31219/Vietnam-France-

partnership-fosters-business-opportunities.html

Vietnam-France partnership fosters business opportunities

Vietnam’s Prime Minister Nguyen Tan Dung (L) waves as he leaves with France’s Prime Minister Jean-Marc

Ayrault after a protocol agreement signing ceremony, where nine contracts were signed, at his Hotel

Matignon offi ces in Paris on Wednesday - Photo: Reuters

HCMC – Prime Minister Nguyen Tan Dung on Wednesday stressed that French investors

and enterprises will find out many business opportunities in Vietnam after bilateral ties

between the two nations have been elevated to a new height.

Dung and his host Jean-Marc Ayrault entered formal talks in Paris on Wednesday to

discuss major solutions to promote bilateral relationship, the government website

chinhphu.vn reported. The two heads of government agreed to strengthen ties in areas

of national defense and security, economy-trade-investment, science and technology,

and education and training among others.

After the talks, the two prime ministers signed a joint communiqué on strategic

partnership between the two countries, and witnessed the signing of nine agreements

between the two sides.

These include a protocol on France providing finance for Can Tho General Hospital, an

agreement on banking cooperation, an agreement between Vietnam’s Transport

Ministry and the French corporation Vinci on marine transport development, and a deal

http://english.thesaigontimes.vn/Home/society/nation/31219/Vietnam-France-partnership-fosters-business-opportunities.html

http://english.thesaigontimes.vn/Home/society/nation/31219/Vietnam-France-partnership-fosters-business-opportunities.html

http://english.thesaigontimes.vn/Home/


between PetroVietnam and GDF Suez on a liquefied petroleum gas and power

generation projects among others.

Speaking at a dialogue with France’s leading enterprises, Dung encouraged ministries,

agencies and enterprises from both sides to discuss and exchange information to learn

about potential of the two countries and set up specific cooperation and investment

plans.

Dung said that Vietnam has a population of 90 million and thus a sizeable market

and a strategic location in Southeast Asia. The nation has also signed a large number of

free trade agreements (FTAs) with other countries.

The country is taking part in negotiations on the Trans-Pacific Partnership Agreement

(TPP), the Regional Comprehensive Economic Partnership (RCEP) and a bilateral FTA

with the European Union (EU) in a bid to expand market, and strengthen the supply and

value chains in the region and the world.

The Vietnamese government has been trying to speed up economic reform, complete

legal system, improve investment and business environment and create favorable

conditions for foreign investors in the country, Dung was quoted by the government

website chinhphu.vn as saying.

Vietnam has seen 13,700 foreign direct investment (FDI) projects worth over US$200

billion. The country also has had around 700 outbound projects with the total value of

around US$12 billion.

Two-way trade between Vietnam and France has almost tripled in a decade, from

US$1.2 billion in 2002 to over US$3.5 billion in 2012. However, the figures have yet to

match the levels expected by the both sides.

Earlier, Dung while delivering a speech at the French Institute of International Relations

said that the two countries will elevate the bilateral ties to strategic partnership, which

is expected to open a new chapter of cooperation on the basis of sincerity, mutual trust

and respect.

The bilateral cooperation will be expanded to various fields such as politics-diplomacy,

economics, culture, science and technology, national defense and security.


FOR MORE INFORMATION PLEASE CONTACT:

Ms. Quyen Hoang

Managing Partner

[email protected]

Ho Chi Minh City Head Office

Unit 03, Level 21, Bitexco Financial Tower

No.02 Hai Trieu Street, District 1

Ho Chi Minh City, VIETNAM

Tel: +84 8 3821 2357

Fax: +84 8 3910 3733

Hanoi Office

Unit 08A, Level 2, International Centre

17 Ngo Quyen Street, Hoan Kiem District

Hanoi, VIETNAM

Tel: +84 4 3824 8522

Fax: +84 4 3824 8580

Mr. Huy Do

Partner

[email protected]

San Francisco Office

101 California Street

Suite 2710

San Francisco, CA 94111 USA

Tel: +1 415 633 8831

Fax: +1 415 689 6821

Hong Kong Office (affiliate)

Two International Finance Centre

Level 19, 8 Finance Street

Central, Hong Kong, CHINA

Tel: +85 2 3125 7639

Fax +85 2 3125 7629

www.LNTpartners.com

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