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Jan 26, 2018 / 12:19

France keeps funding projects for Vietnam strategic development

France would keep funding projects of sectors that see high demand in Vietnam, said in Vietnam-France high-level economic dialogue on January 24.

Co-chairing the dialogue, Deputy Minister of Planning and Investment Nguyen The Phuong and French Minister of State Jean-Baptiste Lemoyne affirmed the importance in raising Vietnam-France economic relationship, especially when 2018 marks the 45th year of Vietnam-France diplomatic tie.
Official logo for the 45th anniversary of Vietnam and France diplomatic tie.
Official logo for the 45th anniversary of Vietnam and France diplomatic tie.
In terms of projects conducted by French Official Development Assistance (ODA), with disbursement value of more than EUR2 billion in the past 10 years, Hanoi urban railway line 3 becomes the symbol in France-Vietnam cooperation as a stark example.
Besides, these ODA projects are related to the Vietnam’s strategic development targets in the upcoming years. Through this, France also exchanges experience with Vietnam in areas of climate change adaptation, agricultural-rural development smart city building, and oil refinery, as concluded by the two officials. 
At the meeting, the two co-chairs also talked about market access, particularly in the food sector, although there were still some barriers, this field has achieved positive results in recent years. For example, new French products have been allowed to import into Vietnam recently such as apples, beef, sheep and goats.
Both sides were highly appreciative and delighted at the success of the Food Expo that France was the honor guest, French potatoes were imported to Vietnamese market last November.
Two-way trade volume of Vietnam and France reached US$4.6 billion in 2017, up by 11.6% year-on-year. At the same time, numerous opportunities are offered by the EU-Vietnam Free trade agreement (EVFTA) in promoting economic and trade relations and in facilitating market entry for the two countries.
This year, the expanded Vietnam – France high-level economic dialogue with the participation of the two sides' agencies and businesses, focused on two major themes of the strategic partnership including the Challenges of Climate Change and Innovative Solutions for infrastructure development.