Vietnam and France Sign Letter of Intent on Consumer Protection Cooperation

On September 10, 2024, at the Ministry of the Economy, Finance, Industrial and Digital Sovereignty in Paris, France, the National Competition Committee of Vietnam and the Directorate General for Competition, Consumer Affairs and Fraud Control of the French Republic signed a Letter of Intent on cooperation in the field of consumer protection. This signing is part of the efforts to strengthen the reliable partnership between the two countries in economic and financial sectors. The signing of this Letter of Intent is a step towards deepening the comprehensive strategic partnership between Vietnam and France. Both nations are focusing on promoting economic and financial cooperation, and enhancing collaboration in the shared interest of consumer protection is a significant move to further develop this relationship. As Vietnam continues its rapid economic growth, the importance of a sound domestic market and the protection of consumer rights is increasing. The Vietnamese government, while pursuing economic reforms under its one-party system, aims to improve its legal framework and enforcement capabilities in line with international standards. Cooperation with France, which possesses an advanced consumer protection system, is expected to contribute to achieving these goals. This also holds significant meaning for Vietnam in deepening its coordination with the international community and enhancing its credibility within global supply chains. Source: Nhan Dan