This vision was outlined by VBUK Chairman Phuong Hoang during the Spring Gala Dinner 2025, held in London on January 13 (local time), where the association looked back at its 2024 achievements and charted the course for the year ahead.
Vietnamese Ambassador to the U.K. Do Minh Hung reaffirmed the embassy's full support to VBUK, aiming to expand its membership, boost trade and investment activities between Vietnam and the U.K., and bridge Vietnamese companies in the U.K. with their domestic counterparts.
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Vietnamese Ambassador to the U.K. Do Minh Hung (center), embassy staff and VBUK members |
He highlighted Vietnam's impressive socio-economic performance in 2024, with a remarkable economic growth rate of 7.09% and a GDP nearing USD 500 billion, placing Vietnam among the world's top 35 largest economies.
Trade has been a cornerstone of the two countries' strategic partnership, growing steadily since 2021. In 2024, bilateral trade surpassed USD 8 billion for the first time, reaching over USD 8.4 billion, an 18% annual increase. Notably, Vietnam's exports to the U.K. alone exceeded USD 7 billion, marking a year-on-year rise of 18.9%. On the investment front, the U.K. remains Vietnam's 12th largest foreign investor, with direct investment totaling USD 5 billion.
Reflecting on VBUK's activities in 2024, Chairman Hoang highlighted several key initiatives, including online workshops to share business insights and provide updates on policies and taxes and improvements in management skills and competitiveness among members. VBUK also welcomed trade promotion delegations from various Vietnamese localities and facilitated trade exhibitions to showcase Vietnamese products and services.
To expand its outreach, the association already collaborated with business associations from the Republic of Korea and Europe, and attended major events such as the European Business Forum and the European Business Summit to explore global business opportunities.
Beyond business, VBUK launched cultural and sports activities for the Vietnamese community in the U.K., including golf and football tournaments, Lunar New Year and Mid-Autumn Festivals. The association also joined charity programs to supporting Vietnamese communities during challenging times, such as the COVID-19 pandemic, the market fire in Poland, and Typhoon Yagi.
The Spring Gala Dinner featured lively music performances, fun quizzes and lucky draws, creating a joyful and united atmosphere during the early days of the New Year.
Established in 2006, VBUK has grown into a vital link for Vietnamese businesses in the U.K., aiding export-import activities and capital mobilization, and fostering partnerships with U.K. companies interested in Vietnam. With over 100 members, including enterprises and entrepreneurs, it continues to be a launchpad to foster a pro-business environment between the two nations.
Source: VNA