The most important task for Viet Nam and France at this point is to jointly build a new quality of economic cooperation – one that is more substantive, balanced, technology-intensive, closely integrated and capable of delivering more specific and practical benefits to businesses and people in both countries, stated General Secretary of the Communist Party of Viet Nam Central Committee and President To Lam.

The top Vietnamese leader made the remark while joining French President Emmanuel Macron at a meeting with executives of some leading French and Vietnamese businesses in Paris on the evening of September 10 (local time).

At the meeting, representatives of the two countries’ ministries and agencies briefed the gathering on the outcomes of discussions among businesses from both sides.

Frank and open exchanges, together with substantive and enthusiastic proposals from the business communities of the two countries, showed that Vietnamese and French enterprises are not merely recognising the potential for cooperation, but proactively seeking new partnership models, products and approaches to create new value together.

To further consolidate and elevate Viet Nam - France economic ties to a new level commensurate with their potential and aspirations, General Secretary and President Lam called on the business communities and agencies of both countries to shift from simply trading goods towards joint investment and production.

He called on French corporations to establish production facilities, research and development centres, technical centres and supplier networks in Viet Nam while encouraging Vietnamese businesses to invest in France.

He also called for a shift from supplier-customer relationships towards technology partnerships. Cooperation should go beyond the purchase of equipment and technologies to encompass technology transfer, human resources training, component manufacturing, research and development, maintenance, repair and operations, as well as the promotion of innovation.

Another priority is to move from bilateral cooperation towards jointly building value chains serving ASEAN, the EU and global markets.

General Secretary and President Lam identified a number of priorities for businesses and agencies of the two countries, including strategic infrastructure and energy transition; the aerospace industry and high-tech transport; science – technology, AI, quantum technology, semiconductors and innovation; and healthcare, pharmaceuticals, biotechnology and high-quality human resources.

Vietnam is always ready to serve as a partner to help French businesses access Viet Nam’s market of more than 100 million people and the broader ASEAN market; connect with ASEAN and next-generation FTA networks; diversify supply chains; establish production and R&D facilities in Asia; and work with Vietnamese businesses to reach third-country markets, he affirmed.

At the same time, he added, Viet Nam encourages capable Vietnamese enterprises to expand their investment, commercial presence, technology and brands in France. The two countries can complement each other’s strengths to enhance their competitiveness in a rapidly and profoundly restructured world.

According to the leader, the Comprehensive Strategic Partnership framework has opened up a new and promising chapter in bilateral relations.

The two sides have a solid foundation of trust, a shared strategic vision and strong determination. The phase of building the framework has passed; now is the time for implementation and results – for the two sides to take breakthrough action and elevate economic cooperation to new heights, he said.

He highlighted the business communities as the core force in turning potential into projects, projects into technologies, products and jobs, and these into new development value. The cooperation documents exchanged on the occasion represent valuable initial results. More important, however, is for each document to be swiftly translated into a concrete implementation plan, and for each agreement to soon bear fruit in the form of products, services and projects delivering measurable value.

Viet Nam is committed to ensuring a stable, transparent and predictable policy environment, protecting the lawful and legitimate rights and interests of investors, and creating a level playing field for businesses, the leader pledged, adding that the Government, ministries and agencies of Viet Nam will work directly to remove obstacles so that the agreements reached today can soon be translated into real projects and tangible results.