On February 12, during the Southeast Asia Business Forum held on the sidelines of the AI Action Summit in Paris, a Vietnamese delegation led by Deputy Minister of Information and Communications Bui Hoang Phuong participated in discussions aimed at strengthening economic ties between ASEAN and France.
The event, organized by Business France, brought together key stakeholders from Southeast Asia and the European Union.
In his opening remarks, Laurent Saint-Martin, French Minister for Foreign Trade and French Nationals Abroad, highlighted Southeast Asia as one of the world's fastest-growing economic regions.
He emphasized Vietnam’s impressive economic growth and its strategic role as a bridge between ASEAN and the EU, owing to its participation in 17 free trade agreements (FTAs), including the EU-Vietnam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (IPA).
These agreements have created tremendous opportunities for business and investment collaboration between Vietnam and Europe.
Vietnam: A rising star in Southeast Asia
Deputy Minister of Information and Communications Bui Hoang Phuong speaks at the opening session of the forum. Photo: MIC
Co-chairing the forum, Deputy Minister Bui Hoang Phuong praised the event as a practical initiative to strengthen ties between ASEAN, Vietnam, and France.
He expressed Vietnam’s openness to increased investment from leading French corporations in Vietnam and the broader ASEAN region.
Vietnam boasts abundant natural resources and a highly skilled workforce. As one of the 16 most populous countries and one of the fastest-growing economies in the world, Vietnam has a dynamic, well-trained workforce specializing in science, technology, engineering, and mathematics (STEM), well-positioned to meet the demands of high-tech industries.
The third Southeast Asia Business Forum gathered nearly 200 representatives from French, Vietnamese, and ASEAN enterprises, focusing on key areas such as regional value chains, sustainable green energy transition, new consumer trends, transportation and logistics, and business opportunities in the era of artificial intelligence and innovation.
Economic experts at the event described Vietnam as a rising star in Southeast Asia, attracting substantial foreign investment amid global uncertainties. French businesses have shown growing interest in Vietnam, particularly in sectors such as digital transformation, artificial intelligence (AI), semiconductor manufacturing, renewable energy, and transportation infrastructure.
Currently, over 300 French companies operate in Vietnam, including Airbus, Total, EDF, Schneider Electric, and Sanofi. However, the potential for further collaboration remains vast, and experts urged both sides to expand investment partnerships.
Chu Thi Thanh Ha, Chairwoman of FPT Software, highlighted FPT’s two-decade partnership with French companies, including Airbus and Canal+, providing digital solutions and technology services.
She noted that FPT is currently collaborating with CEA-LETI, France’s leading microelectronics research center, to advance semiconductor research and production, opening up new avenues for high-tech cooperation.
Vietnam-France relations set for further expansion
Overview of the third Southeast Asia Business Forum. Photo: MIC
Deputy Minister Bui Hoang Phuong underscored Vietnam’s stable political environment, its strong government commitment to science and technology, and its geopolitical advantage as ASEAN’s gateway.
These factors position Vietnam as a crucial partner in fostering Vietnam-France relations and strengthening broader ASEAN-France economic ties.
"We warmly welcome businesses and investors to engage in long-term partnerships with Vietnam. Our government is committed to ensuring a stable policy environment that prioritizes sustainable and mutually beneficial investments, particularly in digital infrastructure, AI, and high-tech industries," he stated.
Vietnam-France relations have entered a new phase of strategic cooperation, following the elevation of bilateral ties to a Comprehensive Strategic Partnership during Vietnamese President To Lam’s official visit to France in October 2024. Both countries are expanding cooperation in high-tech industries, digital transformation, AI, renewable energy, and transportation infrastructure.
Vietnam’s active role in the global AI community
On the sidelines of the forum, Deputy Minister Bui Hoang Phuong met with Laurent Saint-Martin, French Minister for Foreign Trade and French Nationals Abroad. Photo: MIC
Before the forum, Deputy Minister Bui Hoang Phuong led the Vietnamese delegation at the AI Action Summit, co-chaired by French President Emmanuel Macron and Indian Prime Minister Narendra Modi.
The summit convened top government leaders and executives from major tech companies such as OpenAI, Microsoft, and Google.
The discussions centered on five key themes: AI for public benefit, employment, investment, ethics, and regulation.
The 2024 summit marked a shift from discussions on AI safety to concrete action plans, with major investment commitments announced.
Vietnam’s participation demonstrated its growing role in the international AI community, opening doors for collaboration, knowledge exchange, and AI-driven economic and social development.
Over 60 countries signed a joint declaration on AI governance, emphasizing the need for greater international coordination to prevent market monopolization and ensure AI is accessible, secure, and sustainable for society.
The declaration highlighted the urgency of developing AI systems that prioritize social and environmental responsibility./.
