Vietnam and France have signed 14 agreements covering aviation, defence, space, healthcare, transport, and energy, during the first official trip by a French president to Vietnam in nearly a decade, Reuters is reporting.
The total value of contracts signed was €9 billion or approximately US$10.25 billion, according to Macron.
Deals include:
- VietJet agreed to purchase 20 Airbus A330neo wide-body aircraft.
- Airbus Defence and Space signed an MoU with Vietnam to explore a future earth-observation satellite programme.
- Sanofi will expand cooperation on vaccines.
- CMA CGM and Saigon Newport will jointly develop a US$600 million deepwater port in northern Vietnam, to be completed by 2028.
- Cooperation also spans nuclear energy, rail, and maritime transport.
The article also notes that:
- The visit comes amid rising trade tensions with the US, with President Trump threatening 50 percent tariffs on EU goods and pressing Vietnam to increase US imports.
- European officials have privately urged Vietnam to avoid concessions to the US that might disadvantage Airbus and other EU firms.
For foreign investors this might suggest Vietnam remains a competitive investment destination with opportunities in aviation, defence, logistics, healthcare, and high-tech. Investment strategy, however, should make sure to consider how Hanoi navigates trade pressures from the US, EU, and China.
See also: How to Start a Business in Vietnam