Addressing a press conference on October 7, Alexandra Smith, Consul General of the U.K. in Ho Chi Minh City, highlighted the flourishing bilateral economic ties, noting that over the past month alone, the Consulate General has welcomed an unprecedented number of high-level U.K. delegations to Vietnam.
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Matt Ryland, Executive Director of the British Chamber of Commerce Vietnam, speaks at the press conference in Hanoi on October 7, 2025. |
She said that the two governments are working closely to maximize the benefits of the U.K. – Vietnam Free Trade Agreement (UKVFTA) and the U.K.’s recent accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The agreements have eliminated tariffs on 99% of U.K. exports to Vietnam, unlocking great opportunities in food and beverages, healthcare, retail, and consumer goods.
Alexandra said that the two countries hold vast potential for strengthening their trade cooperation, and that aligning the U.K.’s strengths with Vietnam’s urgent demands will drive breakthroughs.
Beyond trade, the U.K. remains deeply committed to supporting Vietnam’s sustainable development goals. From green finance and renewable energy to climate resilience and education, U.K. expertise aligns closely with Vietnam’s priorities for an environmentally and socially responsible growth path.
Matt Ryland, Executive Director of The British Chamber of Commerce Vietnam (BritCham Vietnam) – the organizer of the summit, said the inaugural event is expected to become an annual platform connecting the business communities of both nations. It will allow U.K. companies to showcase their expertise, reaffirm their commitment to Vietnam’s growth goals, and create opportunities for BritCham members to foster dialogue and strengthen investment and trade partnerships between the two countries.
Regarding the IFC, the summit will explore pathways to position Ho Chi Minh City as a regional financial hub, building on a series of high-level dialogues and practical cooperation initiatives.
As Vietnam seeks to ensure energy security for economic growth, the summit will serve as a vital bridge - linking the U.K.’s leading expertise in technology, particularly offshore wind power, and green finance models with Vietnam’s vast natural potential, speeding up a sustainable and efficient energy transition.
Nirukt Sapru, Country Chairman of Jardine Matheson Group in Vietnam, noted that under the National Power Development Plan VIII revised in 2025, Vietnam aims to develop 6,000–17,000 MW of offshore wind capacity by 2035. This is an ambitious goal, given that each project typically takes 6 – 9 years to complete. He said that accelerating progress and addressing existing challenges are therefore critical.
He expressed hope that the upcoming summit will foster stronger policy dialogue between the government and the business community, especially for issues of concern for international investors. Lifting price caps to better reflect market supply and demand, promoting rooftop solar and distributed energy models, clarifying fees and related costs, and improving market access will help address immediate concerns.
The summit is expected to bring together top business leaders, government representatives, and experts from various fields to explore collaboration opportunities in key areas such as trade, environmental, social and governance (ESG), and finance.
Two-way trade has more than tripled over the past decade, now exceeding 9 billion GBP (nearly 12.1 billion USD) annually. Through high-level discussions, tailored networking sessions, exhibition zones, and on-demand B2B meetings, the event will offer a unique gateway for U.K. and Vietnamese businesses to build strategic partnerships and expand their growth opportunities in the Vietnamese market.
Source: VNA