(VOV) - France is providing more official development assistance (ODA) to Vietnam to upgrade its infrastructure in a bid to become an industrial country by 2020.
French businesses eye Vietnamese power market
This was confirmed by Marie-Cécile Tardieu-Smith, economic councilor of the French embassy during a recent meeting with the press in Hanoi.
She suggested the Vietnamese government remove barriers to foreign businesses, speed up administrative reform and renovate its tax scheme for some imported products.
|Marie-Cécile Tardieu-Smith |
She also stressed the need to create an equal, transparent and stable environment to facilitate foreign investment in the country.
The councilor spoke highly of the Government’s effective measures to stabilize the domestic currency and the macroeconomy to build investor trust. She said she believes Vietnam will be able to overcome the challenges and become an attractive destination for French businesses.
French businesses are increasingly seeking opportunities to invest in Vietnam’s retail, tourism, medical equipment, telecommunications and new technologies businesses, she said.
Two-way trade between Vietnam and France saw a significant year-on-year increase of 25 percent to US$2.7 billion in 2011 with Vietnam enjoying a trade surplus of more than US$1.1 billion, the councilor noted.
French businesses are operating in various areas in Vietnam, mostly in pharmaceuticals, energy, consumer products, banking and insurance.