Penetrating the European market through France has now become a strategic move for a number of Vietnamese entrepreneurs. Although the number of Vietnamese investors is not yet massive, the trend of business ownership and operations by Vietnamese citizens in this country of nearly 70 million people continues to show significant growth.
Vu Nguyet Anh, founder of the travel service COvivu, revealed that the biggest challenge for newcomers lies not in a lack of ideas, but in the necessity of starting everything from scratch. Successful experience in their country of origin does not automatically guarantee a reputation in the new market. She emphasized the importance of adapting to administrative, legal, and tax systems, as well as market dynamics that are vastly different from Vietnam.
Echoing this sentiment, owner of the Obobun restaurant chain, Phan Viet Phong, highlighted the importance of operational discipline amid challenging economic conditions. According to him, amidst rising raw material costs and inflationary pressures, entrepreneurs must be able to carefully manage profit margins. He actually sees an opportunity for foreign investors to acquire existing businesses as an initial cost-efficiency strategy.
The Consul General of France in Ho Chi Minh City, Etienne Ranaivoson, stated that the French government continues to work on simplifying administrative procedures to attract international talent. This step is taken to strengthen France's position as the primary gateway for foreign businesses in a stable and transparent European market.
For prospective investors, having sufficient financial resources to sustain operations for at least the first 6 to 12 months is an absolute prerequisite. Furthermore, collaboration with local accountants and legal advisors is considered crucial so that business owners can fully understand labor regulations and European market characteristics before expanding further.
