Deputy Prime Minister Nguyen Hoa Binh visited the UK to enhance cooperation on financial centre development, emphasizing investment from British firms in Vietnam’s financial and renewable energy sectors. Meetings with UK officials highlighted commitments to strengthening bilateral ties, promoting trade, and addressing shared security concerns. Both parties anticipate significant growth in trade relations as they approach the 15-year milestone of their strategic partnership.
On March 18, during his visit to the United Kingdom, Permanent Deputy Prime Minister Nguyen Hoa Binh held significant discussions with British Deputy Prime Minister Angela Rayner and Speaker of the House of Commons Lindsay Hoyle. His agenda included participating in a seminar focused on the development of financial centres and a visit to the London Stock Exchange.
In his meeting with Deputy PM Rayner, Binh reiterated Vietnam’s commitment to bolstering its strategic partnership with the United Kingdom. He underscored the importance of British investment in Vietnam’s financial sector and sought UK expertise in developing financial centres. Additionally, he encouraged British firms to invest in Vietnam’s clean and renewable energy initiatives and called for support in training skilled professionals.
Deputy PM Rayner welcomed Vietnam’s initiative for a financial centre, expressing the UK’s readiness to assist through expert guidance and business engagement. She noted potential for expanded trade and collaboration in energy transition, and both parties agreed on the necessity for increased political trust, especially in light of the upcoming 15-year anniversary of their strategic partnership (2010-2025), aiming to elevate bilateral trade to $10 billion and beyond.
During his engagement with Speaker Lindsay Hoyle, Binh advocated for stronger parliamentary exchanges to enhance ties between the two nations. Hoyle acknowledged the prospects for cooperation across trade, investment, science, education, healthcare, and tourism, indicating the UK Parliament’s commitment to furthering these relations.
They also addressed security concerns and regional matters, expressing a collective preference for peaceful resolutions in alignment with international law, which would benefit both countries and support regional stability and development. At a seminar hosted by TheCityUK, Deputy PM Binh recognized the contributions from British experts to Vietnam’s financial centre aspirations and called for ongoing support to refine effective policies and frameworks.
UK Ambassador to Vietnam, Iain Frew, emphasized the importance of these financial centre projects for Vietnam’s growth and reaffirmed British support. Nicola Watkinson of TheCityUK indicated that establishing a financial centre would enhance Vietnam’s international stature and create robust structures for financial institutions.
While visiting the London Stock Exchange, Binh met CEO Julia Holgate, who highlighted the beneficial results of existing stock market cooperation, pledging support to advance Vietnam’s stock market to emerging status and facilitate Vietnamese listings. Binh advocated for improved market liquidity and transparency, as well as the adoption of advanced technologies.
Binh also met Barnaby Swire, Chairman of Swire Group, encouraging further investment in Vietnam’s green and digital economies, particularly regarding financial centre development in Ho Chi Minh City and Da Nang. Swire reiterated his group’s commitment to Vietnam and discussed the group’s ongoing efforts in various sectors, including expanding operations and strengthening airline connectivity to vital global financial hubs. He pledged support based on successful projects in Hong Kong and Shanghai, looking to enhance investment in Vietnam’s financial landscape.
The recent visit by Deputy Prime Minister Nguyen Hoa Binh to the UK marks a significant step in strengthening the bilateral relationship between Vietnam and the United Kingdom, particularly in the realm of financial development. Through collaboration in various sectors, particularly finance and energy, both countries aim to enhance trade and investment, substantially benefitting their economic partnership. The discussions reflected a commitment to mutual growth and development, underpinned by shared aspirations for stability and cooperation in the region.
Original Source: en.vietnamplus.vn
