Vietnam vows to create optimal conditions for French firms

08:35 | 02/04/2019 MUTRAP Corner

The National Assembly (NA) and Government of Vietnam pledged to continue perfecting the legal system in order to create favourable conditions for foreign enterprises, including those from France, to operate in the Southeast Asian country, said the top lawmaker.

NA Chairwoman Nguyen Thi Kim Ngan speaks at the working session with the France-Vietnam Friendship Parliamentarians’ Group - Photo: quochoi

NA Chairwoman Nguyen Thi Kim Ngan delivered the commitment at a working breakfast with the France-Vietnam Friendship Parliamentarians’ Group and representatives of 15 major French businesses in Paris on April 1.

Ngan said the Vietnamese NA delegation’s ongoing visit aims to promote and deepen the Vietnam-France strategic partnership, as well as bilateral legislative ties in particular, helping to enhance the multifaceted cooperation between the two countries with economic-trade collaboration as the center.

She highly evaluated France’s policy on strengthening economic cooperation with Vietnam and hoped that French firms will expand their business and investment in the Southeast Asian country.

At the working breakfast, representatives of French enterprises such as Air Liquide and Total spoke highly of the Vietnamese market’s potential in energy, especially renewal energy.

Meanwhile, representatives of other businesses showed their interest in the fields of aviation infrastructure development, logistics, pharmaceuticals, health care, wholesale market building and clean food supply.

In the sphere of energy, a representative of the Vietnamese Ministry of Industry and Trade affirmed Vietnam’s support for projects involving French companies, saying the country will create all possible conditions so that the projects are implemented effectively and on schedule.

Leaders of Vietnamese ministries, agencies and localities talked about investment opportunities and potential in Vietnam, particularly in aviation and metro, stressing that French businesses and investors are able to take part in projects in Vietnam.

In her closing speech, Ngan said the Vietnamese NA will work harder to complete laws regarding economic affairs, in line with international practices and integration process Vietnam has committed in free trade agreements (FTAs), thus ensuring transparency, publicity and equality for both domestic and foreign investors.

The Vietnamese Government will create a competitive, favourable and open investment environment, and carry out intensive and extensive administrative reforms, from the stage of corporate establishment to customs and tax affairs. Vietnam is stepping up infrastructure development and economic investment programmes with high connectivity, towards a digital economy and smart urban cities, Ngan added.

Along with e-government, the legislature will build an e-parliament, she said, noting that the legislative agency will accompany businesses and investors, helping remove their difficulties.

The country is also improving its legal frameworks towards a modern market economy in conformity to international standards and commitments in new-generation free trade agreements (FTAs), she said.

With 12 signed FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Vietnam Free Trade Agreement (EVFTA) and FTAs with such important markets as ASEAN, China, Japan and Russia, Vietnam has taken a further step in the global integration process, she underlined.

Regarding the EVFTA’s impacts on Vietnamese trade prospects, the Chairwoman highlighted the importance of the deal, in terms of both strategy and economy-commerce, as it will open various cooperation opportunities for Vietnam and the EU. Both sides need to finalise relevant procedures so as to soon sign and ratify the pact, ensuring that it will take effect as soon as possible, she noted.

According to the top legislator, France has remained a big trade partner and an important investor of Vietnam, and both countries, as active members of the international community, have shared a number of common viewpoints, laying the foundation for bilateral coordination at international forums and multilateral cooperation mechanisms. Besides, Vietnam and France are pursuing joint efforts for global peace and stability as well as adaptation to global challenges.

Ngan also affirmed that the Vietnamese community in France in the largest of its kind in Europe, and they have obtained achievements in various sectors while many of them have held important positions in the local and central administrations of France.

The NA Chairwoman expressed her hope that the Vietnamese community in France will make further contributions to both the host nation and their homeland.