Vietnam - attractive destination for French startups

French startup firms are eyeing the Vietnamese market, especially the southern economic hub of Ho Chi Minh City thanks to open and dynamic business environment.  
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French Ambassador to Vietnam Bertrand Lortholary made the remark in a recent interview granted to Thoi bao Kinh te Viet Nam (Vietnam Economic Times) on the occasion of the 45th anniversary of Vietnam-France diplomatic ties (1973-2018).

vietnam attractive destination for french startups
French Ambassador to Vietnam Bertrand Lortholary. (Photo: dantri)

He said the development of the start-up community in HCM City is just a start, and in the coming time, the city as well as Vietnam would become a must-go destination for startup businesses, especially in the field of technology, he said.

The Ambassador added that French businesses are making more investment in this field in Vietnam and consider it as an attractive market.

French tech firms operating in the Southeast Asian country have set up a network called “French Tech Vietnam” to serve as a bridge for startups between the two countries, he unveiled.

This network has been recognised by France as a new technological centre in Vietnam, the first of its kind in Southeast Asia, he noted.

According to the Ambassador, the first things he could see in the relations between Vietnam and France are opportunities for cooperation in transport infrastructure, water, consumption, and especially technology.

In recent time, the two countries’ governments have created favourable conditions for French startups to work in Vietnam.

Stressing that there are three things that make successful startups, namely startup capacity, favourable business climate and connection of domestic and global startups, the Ambassador suggested the Vietnamese Government design more policies to facilitate startup operation in the time to come.

Ho Chi Minh City is striving to become Vietnam’s startup centre with the target establishment of 500,000 enterprises from now through 2020.

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(Source: VNA)