During his meeting with U.K. Ambassador to Vietnam Iain Frew in Hanoi on February 26, Deputy PM Binh commended the ambassador’s efforts to strengthen bilateral ties and underlined that Vietnam attaches importance to enhancing its strategic partnership with the U.K. and wants to elevate the relationship to a higher level in the near future.
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Deputy Prime Minister Nguyen Hoa Binh meets with Ambassador to Vietnam Iain Frew in Hanoi on February 26. |
Binh proposed increasing the exchange of all-level delegations and effectively implementing cooperation mechanisms, closely coordinating at multilateral forums such as the United Nations and the ASEAN-U.K. framework. He suggested arranging visits by Vietnamese leaders to the U.K. in 2025 on the occasion of the 15th anniversary of the two countries' strategic partnership (2010-2025).
Discussing trade, investment, education, science, hi-tech, and climate change cooperation and people-to-people exchange, the Deputy PM noted the positive growth in bilateral trade, which reached over USD 8 billion in 2024, an 18% increase from 2023. He urged the U.K. to further open its market to Vietnamese products, that Vietnam is strong and the U.K. needs.
He encouraged U.K. investment in Vietnam through direct projects and financial models, highlighting Vietnam’s efforts to develop regional and international financial centers as a key national policy aimed at mobilizing resources for faster, more robust development. These centers in Ho Chi Minh City and Da Nang will play a crucial role in supporting green energy, the circular economy, and high-tech initiatives.
Vietnam has been promoting the establishment of these financial hubs with effective support from the Tony Blair Institute. Binh expressed his hope that the U.K. would share its expertise in organizing and managing financial centers. He also requested training for core personnel to manage the future centers and called on U.K.-based investors, banks, and financial institutions to explore opportunities in Vietnam.
Ambassador Frew welcomed the opportunity to strengthen financial cooperation, emphasizing the U.K.’s readiness to share its experience in operating international financial hubs. He noted that several British firms, investment funds, and banks have already established a presence in Vietnam and see significant potential in the country’s plans to develop international financial centers.
Source: VNA