France and Vietnam signed more than $10 billion in deals Monday during President Emmanuel Macron’s visit to Hanoi, including agreements on Airbus planes, defence cooperation, and other sectors, as France seeks to strengthen its influence in the region amid global trade tensions.
The contracts, valued at 9 billion euros ($10.25 billion), include the purchase of 20 A330neo wide-body aircraft by Vietnamese budget airline VietJet, as well as cooperation agreements on nuclear energy, rail and maritime transport, defence, space, and pharmaceuticals, according to documents reviewed by Reuters.
The visit, Macron’s first official trip to Vietnam and the first by a French president in nearly a decade, comes as U.S. tariff threats raise concerns for both European and Vietnamese trade interests. Washington has pressured export-reliant Vietnam to increase imports from the U.S., with the White House warning of potential 46% tariffs on Vietnamese goods.
Macron’s stop in Vietnam is the first leg of a Southeast Asian tour that will also include Indonesia and Singapore. The French leader met with top Vietnamese officials and will visit a Hanoi university before departing for Jakarta on Tuesday.
Macron highlighted the strengthening of France’s strategic relationship with Vietnam, noting enhanced defence collaboration, including joint projects in the defence and space sectors. He also emphasized support for freedom of navigation, an issue of strategic importance to Vietnam in the South China Sea.
Vietnamese President Luong Cuong said the bilateral defence partnership would focus on information sharing, defence industry cooperation, cybersecurity, and counter-terrorism efforts.
Airbus, already Vietnam’s leading aircraft supplier, also signed a separate agreement with the Vietnamese government to explore a future satellite program. Airbus built Vietnam’s current earth-observation satellite, launched in 2013.
Meanwhile, French shipping and logistics company CMA CGM signed a $600 million joint investment deal with Saigon Newport to construct a deepwater container terminal in northern Vietnam by 2028.
The deals, part of 14 agreements signed during the visit, fall short of the “dozens” French officials had indicated in advance. Additional announcements are expected Tuesday.
