French development assistance has gone towards some of Vietnam’s infrastructure works, photo Dung Minh

French President Emmanuel Jean-Michel Frédéric Macron will pay a state visit to Vietnam during May 25-27. This follows just a few months after the two countries forged a comprehensive strategic partnership (CSP) last October in Paris during Vietnamese Party General Secretary To Lam’s official visit to France.

The welcoming ceremony will take place on May 25 with the French leader meeting after that with Vietnamese leaders. Both sides are expected to discuss both nations’ cooperation prospects, backed by the CSP and the Vietnam-EU Free Trade Agreement. “We expect that the cooperation outlook between France and Vietnam will further flourish,” said French Ambassador to Vietnam Olivier Brochet.

France has been a long-standing and trusted partner in this journey, Ambassador Brochet stated. “As one of the first countries to support Vietnam’s reforms, France has mobilised over €3 billion ($3.4 million) through the French Development Agency to finance infrastructure, sustainable development, and climate resilience projects such as railways, metro lines, and green energy capacities.”

On May 15 in Hanoi, to prepare for the French president’s visit, Vietnamese Prime Minister Pham Minh Chinh met with the ambassador, suggesting that the two countries review and concretise high-level agreements reached during Party General Secretary Lam’s visit to France.

PM Chinh also recommended that the two countries continue push up ties in economy, trade, investment, culture, heritage protection, architecture, and education and training, and expand ties in the new sectors such as cybersecurity, AI, aviation and space, green transition, nuclear energy, and high-quality staff training.

The Vietnamese leader also proposed that the two sides soon sign intergovernmental deals on healthcare, science, technology, and digital transformation. The ambassador also suggested specific projects in security and defence, infrastructure, transport, urban railways, and mining.

Tapping into the benefits

In April, Party General Secretary To Lam met with Ambassador Brochet, stating that the CSP will open new opportunities for the two nations to expand bilateral trade and investment ties, and both sides would need to work closely via cooperation projects and programmes.

“Vietnam and France need to strongly amplify bilateral trade and open their doors wider to goods from their respective markets, especially in the current text that the world economy is faced with numerous challenges and an increase in trade competition,” General Secretary Lam said, as cited by Vietnam’s Ministry of Foreign Affairs.

The two sides agreed that opportunities from free trade will also need to be effectively tapped into. The two countries will increase bilateral cooperation in the sectors of their strength such as infrastructure, transport, renewable energy, green energy, sci-tech, innovation, aerospace, and training of high-quality people, added the ministry.

According to a joint statement on upgrading the Vietnam-France cooperation released last October, the two sides will continue encouraging their projects in their respective territories towards a transparent, stable, and predictable investment and business environment.

“Vietnam wishes to promote ties with France and French firms in the sectors of infrastructure, urban and rail transport, renewable energy, energy transition, non-carbon hydrogen, digital and circular economy, logistics and port infrastructure, civil aviation, and submarine cables,” read the joint statement.

Top-class expertise

Last month, Laurent Saint-Martin, French Minister Delegate for Foreign Trade and French Nationals Abroad, visited Vietnam to boost bilateral trade and investment cooperation. He told VIR that France is fully committed to supporting Vietnam in its dual energy and digital transition.

“We bring recognised expertise in low-carbon energy, sustainable transport, and smart resource management. French companies rank among the best in the world in those key sectors. Their expertise and know-how is second to none. Their global track record speaks for itself,” Saint-Martin said. “We are close partners in the Just Energy Transition Partnership, which supports Vietnam’s transition while ensuring social and environmental sustainability.”

On the digital front, he added, France is eager to strengthen cooperation in cybersecurity, AI, e-health, edtech, and e-government - a key area of focus for Vietnamese authorities.

“These are all strategic fields where we can share knowledge, co-develop solutions, and innovate together,” Saint-Martin said.

Statistics from the Vietnamese Ministry of Finance’s Foreign Investment Agency showed that cumulatively as of late April, French companies invested into 705 projects registered at just under $4 billion. This has made France the third-largest European investor in Vietnam.

In the first four months of 2025, total newly registered and newly added capital and stake acquisition and capital contributions from French investors in Vietnam hit $11.82 million, down 2.1 per cent on-year.

“As Vietnam enters a new phase, France and its companies are ready to strengthen their partnerships,” said Ambassador Brochet. “Our cooperation is particularly strong in sectors where France offers world-class expertise: nuclear energy, transportation, healthcare, agriculture, and food innovation. These are all areas where Vietnam is developing ambitions.”

Many French businesses are now in search of more opportunities in infrastructure in Vietnam, notably in the railway sector, where they have cultivated successful projects. They are accompanying Vietnam in the transition towards a carbon-free economy through providing the country with the world’s top-quality technical solutions.

In August 2024, commercial operations on the elevated section of the Nhon-Hanoi Station metro line 3 were launched, with concessional loans of €514 million ($566.5 million) from France. The 8km elevated section, running from Nhon to Cau Giay in Hanoi, helps ease congestion in the capital. The underground part, stretching from Kim Ma street to the front of Hanoi Railway Station with four underground stations and one underground ramp, will operate by the end of 2027.

Vietnam currently has 20 valid investment initiatives in France registered at $38.93 million.

France is also the leading European donor of official development assistance for Vietnam, and Vietnam is France’s second-largest recipient of this kind of funding. During 1993-2022, the figure sat at €16.7 billion ($18.87 billion), focused on many sectors such as infrastructure, tech transfer, agriculture, green industry, and finance.

Vincent Marou, co-founder and CEO Marou Chocolate

I have always believed in the potential for speciality chocolate in the Vietnamese market. Founded locally by two French entrepreneurs in 2011, our company is dedicated to elevating Vietnam’s cacao industry. We currently purchase 15 per cent of the nation’s cacao output, focusing on the highest quality.

Based in Ho Chi Minh City, we operate 19 stores in cities including Hanoi, Hue, Danang, Hoi An, and Nha Trang. In addition to exporting to over 25 countries, we will expand our store footprint to Singapore, Bangkok, and Paris starting this year.

Our commitment to sustainability is evident in our organic practices and strong partnerships with local farmers and cooperatives across 10 provinces. In 2024, we achieved an impressive 50 per cent revenue growth, a trend we expect to continue.

As demand for our cacao and chocolate rises over 30 per cent annually, we are poised to be a leading force in an industry where cacao prices have surged by 200 per cent since early 2024, necessitating some strategic pricing adjustments.

Working together, we are not just creating exceptional chocolate – we are helping to transform the future of the country’s cacao industry.