By Anthony Marcus for Eurasia Business News, May 26, 2025. Article no. 1528.

During French President Emmanuel Macron’s visit to Hanoi, France and Vietnam entered into agreements worth $10 billion, encompassing aviation, defense, energy, and infrastructure. Macron’s visit, the first by a French president in nearly ten years, aimed to strengthen France’s position in the region amidst global trade tensions.

Key points:

Agreements The agreements include the purchase of 20 Airbus A330neo aircraft for VietJet. The accords are aimed at strengthening collaboration across aviation, nuclear energy, rail transport, renewable energy, research, satellite technology, and defense.

Trade Tensions The visit occurs amidst rising trade tensions, including potential U.S. tariffs on EU goods and pressure on Vietnam to increase imports from the U.S.

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Strategic partnership Vietnam has elevated France to its highest diplomatic tier. The expanded defense partnership includes cybersecurity, strategic information-sharing, and anti-terrorism collaboration.

Commitment Macron emphasized France’s commitment to freedom of navigation, a point of shared interest with Vietnam due to regional tensions in the South China Sea.

Additional Agreements Airbus and Vietnam also signed an agreement regarding satellite cooperation. CMA CGM, a French shipping company, signed a $600 million deal with Saigon Newport to construct a deepwater port in northern Vietnam by 2028.

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Vietnam has reaffirmed its ambitious economic growth target of 8 percent or higher for 2025 despite significant challenges posed by U.S. tariff policies. Prime Minister Pham Minh Chinh emphasized the government’s commitment to this goal amid the impact of a hefty 46 percent tariff imposed by the United States on Vietnamese exports, which threatens the country’s export-reliant economy and global supply chains.

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© Copyright 2025 – Eurasia Business News. Article no. 1528.