French business keen on Vietnam

Christian Pepineau (R) meets with businesses in HCMC last Thursday
The leaders of the Paris Chamber of Commerce and Industry (CCIP) spoke with Thanh Nien about bringing investors to Vietnam and helping locals enter European markets.
Thanh Nien Daily: What are the key sectors in Vietnam that French businesses are interested in?
Christian Pepineau, Vice President of the Paris Chamber of Commerce and Industry (CCIP): There are many French businesses working in diversified fields here and some are among the world’s largest companies.
I would say all the industries in your country are of our interest.
I always tell French entrepreneurs that Vietnam has some of the best investment potential for us.
Jean-Lou Blachie
So all kinds of French businesses will come to Vietnam?
CCIP is honored to act as the bridge between Vietnamese and French businesses.
We try to create cooperative opportunities for both.
For the next few years, CCIP is focusing on bringing medium-sized enterprises to Vietnam.
Why does CCIP focus on medium-sized enterprises?
We see that Vietnam has many advantages that our middle-sized businesses can benefit from.
The most visible and best points are good, cheap human and natural resources and a large market of over 80 million people.
CCIP SNAPSHOT
■ CCIP is a public institution providing services to more than 300,000 businesses in and around Paris. Among its activities, the CCIP advises entrepreneurs and helps them find new opportunities - most notably in foreign markets.
■ In its 12 schools and 13 training centers, the CCIP is educating 14,000 students as well as 40,000 CEOs, and other employees in France and around the world.
Once French businesses invest in the country, they can produce high-quality products at low prices not only for export but also for local Vietnamese consumption.
Do you have any advice for Vietnamese businesses entering the European and French markets?
Of course, Vietnamese businesses have great opportunities in Europe and France.
Many Vietnamese have been living in France and they do good business.
Jean-Lou Blachie, CCIP’s Vice President of Seine-Saint-Denis: We always welcome Vietnamese entrepreneurs and their products.
As for advice, I think any enterprises which want to live long in Europe must provide customers with high quality products at reasonable prices.
But many Vietnamese complain that the European authorities are strict on made-in-Vietnam products to protect their EU companies?
Jean-Lou Blachie: Any assessment should be considered in various ways and by several parties.
It is common for governments to support national industries and companies.

But you see, many made-in-Japan products are favorites in Europe because they are of high-quality.

Your neighbors, the Chinese, also sell their goods everywhere.

How do you feel about the Vietnamese business environment?

Well, this is my first visit to Vietnam and I have not had much time to evaluate the business environment.

But I am very impressed by the young and dynamic atmosphere of Ho Chi Minh City.

I have been to China and several other Southeast Asian countries, and I think infrastructure plays such an important role in giving businesses the level of comfort they need to invest.

Vietnam should improve its infrastructure to meet the demands of foreign investors.

Have you heard any comments from French entrepreneurs who have done business in Vietnam?

Christian Pepineau: They say “Come…come to Vietnam!” Your country is a fertile land with qualified people.

French entrepreneurs are also impressed by the country’s law improvements.

We believe with increasingly favorable laws for foreign investors, Vietnam will take off.

What have the French businesses you are traveling with on this trip said about Vietnam?

Jean-Lou Blachie: They think the prospect of doing business in Vietnam is good.

You know, the word “Vietnam” is popular because there are lots of Vietnamese living in France.

The two countries have been linked to each other for more than a century.

Vietnam has been facing high inflation since it became a member of the World Trade Organization. Do you think the inflation hurts Vietnamese businesses and French enterprises doing business here or intending to invest in the country?

Inflation makes made-in-Vietnam exports cheaper and more appealing to foreigners.

I think Vietnam usually uses the Vietnam dong to US dollar rate to assess inflation.

But that’s not the case this time.

Regarding the VND-Euro rate, I think it will be stable for a long time.

Either way, any developing country entering the international marketplace for the first time will have to meet many challenges.

Vietnam is no exception but it has great strength and may stabilize to develop more rapidly in the near future.