Vietnam and France are strengthening ties that increasingly extend beyond bilateral diplomacy. During General Secretary and President Tô Lâm’s official visit to France in September 2026, both countries reaffirmed their Comprehensive Strategic Partnership, established in 2024, and signalled their intention to deepen economic, industrial and technological cooperation.
French Prime Minister Sébastien Lecornu captured the broader significance clearly: France can serve as Vietnam’s gateway to the European Union, while Vietnam can serve as France’s gateway to ASEAN.
For businesses looking at the possibilities created by closer ties between the two countries, that message deserves attention.
Advancing the Vietnam-France Strategic Partnership
The visit was aimed at moving the Comprehensive Strategic Partnership further into implementation. Tô Lâm met with French President Emmanuel Macron and Prime Minister Sébastien Lecornu, with discussions focused on accelerating commitments made since the partnership was elevated in 2024. The programme also included the second France-Vietnam High Business Council, bringing government and business leaders into discussions about the future of bilateral economic ties.
Tô Lâm also attended and spoke at the International Space Summit in Paris, reflecting Vietnam’s growing focus on science, technology and strategic industries. During the visit, Tô Lâm and Macron also witnessed the exchange of cooperation agreements involving French and Vietnamese businesses and institutions.
Taken together, the agenda showed a clear intention to move the Comprehensive Strategic Partnership beyond high-level commitments and toward practical implementation.
Where Business Opportunities Are Taking Shape
Vietnam-France Strategic Partnership – Photo: VNA
Economic and industrial ties are playing a more visible role in the France-Vietnam partnership. During the latest meetings, both sides discussed cooperation in aerospace, strategic transport infrastructure, clean energy, critical minerals, science and technology, innovation and digital transformation. France also expressed interest in projects involving energy, strategic infrastructure and minerals, while indicating its willingness to support Vietnam’s international financial centres in Ho Chi Minh City and Da Nang.
The discussions also highlighted the potential to combine French technology and expertise with Vietnam’s growing industrial capacity, creating opportunities to connect with regional and global supply chains. The approach is intended to combine the respective strengths of the two countries and help products, including manufactured goods and agri-food products, participate more deeply in global supply chains.
The two countries are also seeking to make greater use of the EU-Vietnam Free Trade Agreement, which has been in force since 2020. Vietnam is the EU’s largest trading partner in goods within ASEAN, with EU-Vietnam trade in goods reaching €76 billion, approximately US$88 billion, in 2025.
These developments create a stronger policy and institutional basis for exploring commercial partnerships, industrial projects, investment and technology cooperation. They also align closely with Vietnam’s longer-term development priorities. Infrastructure expansion requires engineering expertise, equipment and supporting services, while energy, advanced manufacturing and digital transformation depend on a mix of domestic capabilities and international technology.
As a result, the opportunities associated with closer bilateral ties could extend beyond the major projects announced at government level to suppliers, manufacturers, engineering firms and specialised service providers.
What Could This New Momentum Mean for Business?
The significance of the visit is not limited to the agreements signed during a few days in Paris. Closer government engagement can help create stronger conditions for businesses to build partnerships, participate in projects and expand across both markets. For French businesses, this can mean better access to Vietnamese industrial networks, strategic projects and local partners in sectors where France already has technical expertise.
The potential also works in the opposite direction. Vietnamese firms looking toward Europe can use stronger links with France to develop commercial relationships, identify technology and investment partners and better understand European markets. France can offer a useful entry point for Vietnamese companies looking toward Europe, while providing access to established industrial and technological expertise and connections within the EU market.
At the industrial level, the impact can extend beyond major infrastructure or technology programmes. Large projects typically rely on wider networks of manufacturers, component suppliers, engineering companies, service providers and local subcontractors. As bilateral engagement deepens, this can create additional space for French expertise to connect with Vietnamese industrial capacity, while Vietnamese manufacturers can gain new possibilities to participate in international supply chains, work with European industrial groups and strengthen their capabilities through technical partnerships.
The value of stronger Vietnam-France ties therefore goes beyond trade volumes alone. It can help connect businesses, technology, capital and industrial capabilities on both sides.
Why This Matters for Companies Entering Vietnam
Vietnam continues to attract international businesses looking for new customers, manufacturing capacity and a stronger position in Southeast Asia. Closer ties with France and the European Union could further support this environment through greater institutional dialogue, stronger business networks and increased visibility around priority industries.
For French and European businesses, there are several ways to approach the Vietnamese market. A company may begin through a local distributor or commercial partner to test demand and better understand the market, while an industrial group may identify Vietnamese manufacturers and develop local production or subcontracting relationships. Others may establish a local team, representative structure or legal entity once the commercial case has been validated.
Manufacturers can also integrate Vietnam into a wider Asian supply-chain strategy, particularly where they are looking to diversify production while maintaining access to regional suppliers and markets. For businesses assessing Vietnam, the key question is therefore not simply whether the market is growing, but whether the company has a clear fit with local demand, the right partner structure and an operating model that can support long-term expansion.
This is particularly relevant in sectors such as energy, infrastructure, advanced manufacturing, transportation, technology and supporting industries, where international expertise can complement Vietnam’s growing industrial base.
The Opportunity Comes With an Execution Challenge
A favourable bilateral environment does not remove the practical challenges of entering a new market. Businesses still need to understand local demand, identify reliable partners, assess competitors, navigate regulations and determine the right operating structure.
Manufacturing projects require another layer of validation. Supplier capability, production capacity, engineering resources, quality systems, compliance and local supply chains all need to be assessed before significant commitments are made. The same applies to Vietnamese businesses looking toward France and the wider European market, where stronger institutional links may improve access but do not replace the need to understand local regulations, customer expectations, distribution structures and compliance requirements.
For businesses on either side, a staged approach can help reduce uncertainty. Companies can first validate the commercial or manufacturing case, build reliable local relationships and expand their investment once the opportunity has been demonstrated. This is where high-level diplomatic momentum needs to be matched by practical market execution.
Vietnam’s Role Between Europe and ASEAN Is Becoming Clearer
The Business Bridge Between France and Vietnam – Photo: VNA
The latest France-Vietnam discussions reinforce Vietnam’s potential role as a connection point between European businesses and Southeast Asia. Its position within ASEAN, expanding industrial base and network of trade agreements make the country relevant to companies developing broader Asian strategies.
France can serve a similar function for Vietnamese companies looking toward Europe, providing access to the EU single market as well as established industrial and technological expertise.
This gives the bilateral partnership a wider significance. Rather than focusing only on trade between two countries, closer France-Vietnam ties can contribute to stronger connections between businesses, industrial capabilities and markets across Europe and ASEAN.
Tô Lâm’s latest visit adds momentum to this direction by moving discussions toward concrete areas where governments, companies and institutions can collaborate. For businesses, the practical question is where their capabilities fit within this next stage of economic cooperation and which partnerships they need in order to participate.
Conclusion
The latest exchanges between Vietnam and France point to a partnership increasingly linked to concrete economic priorities. Trade frameworks, government dialogue and cooperation in strategic industries are creating a stronger foundation for businesses on both sides to explore new markets and develop partnerships.
For French and European companies, Vietnam offers access to a growing market, manufacturing capabilities and a strategic position within Southeast Asia. For Vietnamese businesses, stronger links with France can support connections with European customers, technology, investment and industrial expertise.
The next phase will depend on how effectively these high-level commitments translate into commercial projects and durable business relationships. Companies that understand the market, identify the right partners and build a clear execution strategy will be better placed to participate as Vietnam-France economic ties deepen.
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