Vietnam and France agree to strengthen financial cooperation #FrenchFinance

Minister Nguyen Van Thang and Minister Eric Lombard

Since the establishment of diplomatic relations in 1973, the bilateral relationship has made significant progress in politics and diplomacy, trade and investment, development cooperation, culture, education and training, and people-to-people exchanges.

The two countries also have close cooperation in the economic and financial fields. As of end-April, France had 705 valid investment projects in Vietnam with total registered capital of $3.96 billion, ranking 16^th out of 150 countries and territories investing in Vietnam.

Vietnam highly appreciates the support of the French government through loans in sectors such as energy, post and telecommunications, water supply, health, transport, hydrometeorology, remote sensing, and agriculture, Thang said.

The two countries’ ministries have worked closely together over the past 30 years through the French International Technical Cooperation Agency and the French Development Agency (AFD) to train finance sector officials and support policy research in state treasury, tax, and customs matters.

“I hope that the two ministries will continue to strengthen cooperation and promote professional exchanges in state management of economics and finance,” Minister Thang emphasised.

Minister Lombard said he would like to boost cooperation in economics and finance, contributing to the Comprehensive Strategic Partnership between the two countries.

Vietnam is looking for investment in infrastructure development and would like to work with high-tech countries, including France.

“We would like French agencies to work closely with Vietnamese authorities to propose potential projects for cooperation,” Minister Thang added. “Furthermore, the Vietnam – France development cooperation relationship should be lifted, and the French government should continue providing official development aid with high preferential rates to Vietnam.”

AFD general director Rémy Rioux and director general of the Department of Debt Management and External Finance Nguyen Quoc Phuong

Agreeing with the proposals from Thang, Lombard said that Vietnam has one of the highest growth rates in the world, and the French government will provide maximum support for Vietnam to achieve its growth targets.

After the meeting, Minister Thang and Minister Lombard witnessed the handover ceremony of three documents worth more than €29 million to implement sustainable, inclusive, and climate change-adapted development in Vietnam.

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