French welcome elevation of Vietnamese ties with Europe

Vietnam and France are set to intensify their trade and investment ties via many activities. French Ambassador to Vietnam Olivier Brochet talked with VIR’s Thanh Tung about how the cooperation will be driven, with Vietnam becoming an increasingly attractive market for French investors.

Vietnam and the European Union in late elevated their relations to a comprehensive strategic partnership. How important is this new cooperation framework to French businesses in Vietnam?

France welcomes the elevation, an important decision in view of the depth of EU-Vietnam relations and its potential to support Vietnam’s development.

Strengthening economic and trade relations is one of the key priorities of this new framework. The EU-Vietnam Free Trade Agreement (EVFTA) has already delivered significant benefits for French companies, notably by facilitating their access to a dynamic and rapidly growing Vietnamese market.

This strengthened partnership, both bilaterally and at European level, now paves the way for even closer cooperation in several sectors of shared interest and high added value.

These include energy, transport and infrastructure, as well as numerous areas linked to digital technologies and innovation. France is home to world-leading expert groups such as EDF, Alstom and CMA CGM, to name but a few.

It also benefits from a dense network of innovative small- and medium-sized enterprises, and France is recognised as the most attractive country in Europe for foreign investors. Together, they can play an active role, alongside their European and Vietnamese partners, in delivering this partnership.

France has major strengths in infrastructure, energy, aeronautics, healthcare and sustainable cities. What competitive advantages does Vietnam currently offer French investors, and which sectors hold the greatest potential for bilateral cooperation?

In 2025, Vietnam recorded one of the highest growth rates in Southeast Asia. This momentum is underpinned by an economy undergoing rapid transformation, driven by strong ambitions in both the public and private sectors to enhance the country’s position on the regional and international stage. Recent strategic orientations, notably on the private sector and development of the state economic sector, reflect this determination to modernise and upgrade the Vietnamese economy.

French companies are following these developments with great interest. Our approach is based on long-term partnerships founded on training, the sharing of expertise and innovation. In all the sectors mentioned above, at a time when Vietnam is launching major strategic projects for its future, French companies stand ready to commit for the long term within this partnership-driven approach.

What is your take on Vietnam’s ongoing efforts in institutional reform and improvement of the domestic business environment, and what reforms have benefited French companies the most?

French companies, like all international investors, note and welcome a gradual improvement in Vietnam’s regulatory framework and business environment, a process that has been underway for many years but has accelerated recently. The entry into force of the EVFTA in 2020 marked a key milestone, promoting greater convergence with European standards in trade, investment and economic governance.

Domestically, successive revisions to the Law on Investment and the Law on Enterprises, notably the amendments adopted in 2023-2024 and implemented in 2025-2026, have helped to simplify certain procedures, reduce the number of prior authorisations and accelerate market entry for foreign investors. Progress in administrative digitalisation is also moving in the right direction. Nevertheless, to further strengthen bilateral investment flows, companies emphasise the importance of more consistent application of rules between central and local levels, the need for enhanced legal certainty, and regular public-private dialogue, particularly for industrial and innovative projects.

How do you envision the outlook for the French-Vietnamese economic cooperation in the years ahead, particularly within the EU’s Global Gateway strategy?

The ecological and energy transition is a priority of our cooperation, both at European and bilateral levels. This is reflected in numerous long-standing scientific and technological partnerships, which we have further strengthened, particularly in the agricultural sector and in water management.

With regard to the energy transition, France, together with its European partners, plays an active role in implementing the Just Energy Transition Partnership with Vietnam. Through the French Development Agency, France is contributing €500 million ($579 million) to support major projects, such as the Bac Ai pumped-storage hydropower plant. Together with European and international donors, as well as major Vietnamese energy companies, we are actively working to prepare for the future.

Within the Global Gateway strategy, these efforts are expected to continue promoting the energy transition and the decarbonisation of industrial and agricultural production, while at the same time fostering Vietnam’s international integration and improving connectivity with ASEAN countries.

By Thanh Tung – Vietnam Investment Review – April 1st, 2026