The Socialist Republic of Vietnam is a South-East Asian country on the eastern side of the Indochinese Peninsula. Surrounded by Laos and Cambodia to the West and China to the North, it is bordered by the Chinese Sea, Gulf of Tonkin and Gulf of Thailand. Vietnam covers a total area of 331,212 sqkm with a population approaching 92.7 million people (source: World Bank, 2017).
The Vietnamese economy is highly dependent on the manufacturing sector (clothing and textile) as well as on the electronics sector. Exports represent a large part of its trade share. The signing of “strategic partnerships” is a central element of the Vietnamese foreign policy, which nowadays focuses on a dozen major partners.
France is the 2nd largest European investor and the 15th largest global investor in Vietnam by the end of 2018 with USD 3.7 billion of FDI in stock. Despite dynamic economic cooperation, bilateral trade remains in deficit for France (€4.2 billion): French exports to Vietnam amounted to €1.2 billion (-23.7%, compared to 2017), while imports from Vietnam (textiles and footwear, sports goods, mobile phones, etc.) reached €5.4 billion (+5.1% compared to 2017). There are nearly 300 French companies operating in the country, providing nearly 26,000 jobs (source: France Diplomatie, 2018).
In order to meet the needs of its customers on the Vietnamese market, Simon Associés has developed privileged relations with economic and legal partners locally.