|
Prime Minister Pham Minh Chinh hosts a dialogue with UK businesses operating, investing,
and trading in Vietnam on the morning of June 28th, 2025 |
UK Businesses Affirm Long-Term Commitment to Vietnam
Mr. Nitin Kapoor, Regional and International Vice President of the vaccine and immunology
business unit of AstraZeneca, and Chairman of AstraZeneca Vietnam, expressed his sincere
gratitude to Prime Minister Pham Minh Chinh on behalf of UK businesses. He reaffirmed the
long-term commitment of UK enterprises in Vietnam.
The dialogue helped businesses understand Vietnam’s development orientation better and
strengthened their belief in the cooperation potential between the two sides. UK businesses
look forward to accompanying Vietnam in its upcoming development journey.
On the occasion of the 15th anniversary of the Vietnam – UK Strategic Partnership, the
British Ambassador to Vietnam, Mr. Iain Frew, remarked that bilateral trade between the
two countries has more than doubled since the establishment of the Strategic Partnership.
Agreements such as the UK-Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP) demonstrate both countries’
commitment to a rules-based multilateral trading system. Vietnam is one of only two ASEAN
countries, along with Singapore, to have an FTA with the UK.
The discussion highlighted that the 50-year diplomatic relationship between Vietnam and
the UK (1973-2025) has brought about substantial and long-term benefits for the people of
both nations. Bilateral relations have made significant progress in recent times,
especially after the signing of the Joint Declaration officially elevating the relationship
to a Strategic Partnership in September 2010.
Trade and investment cooperation, as a crucial pillar of the Strategic Partnership, is
witnessing robust development with remarkable achievements and outcomes.
In terms of trade, the UK is currently Vietnam’s third-largest trading partner in Europe,
while Vietnam is the UK’s largest trading partner in Southeast Asia. In 2024, two-way trade
surged by 18% compared to 2023, reaching a record high of 8.4 billion USD. Both sides are
aiming to increase this figure to 10 billion USD in the coming years.
Regarding investment, as of May 2024, the UK had 598 valid projects with a total registered
capital of 4.64 billion USD, ranking 15th out of 151 countries and territories investing
in Vietnam.
Over 400 UK businesses are operating in Vietnam, ranging from multinational corporations to
small and medium-sized enterprises. HSBC has been present in Vietnam for over 155 years,
while Standard Chartered has been here for more than 120 years. Other companies such as
Prudential, Unilever, AstraZeneca, and KPMG have also marked 30 years of continuous
operation and positive contributions to the Vietnamese economy.
|
Delegates discuss Vietnam – UK trade relations in the context of global economic
instability and offer recommendations to resolve bottlenecks, harmonize regulations, and facilitate trade and investment – Photo: VGP/Nhat Bac |
Propelling Bilateral Trade and Investment Beyond the 10 Billion USD Mark
Prime Minister Pham Minh Chinh highlighted the diverse connections between Vietnam and the
UK across various channels and sectors, including sports, with many Vietnamese people being
avid fans of famous English football teams.
The Prime Minister requested the UK side to continue collaborating with Vietnam in achieving
its set goals, including two centennial goals, especially in maximizing the benefits of the
UKVFTA and CPTPP agreements. He aims to propel bilateral trade and UK investment in Vietnam
beyond the 10 billion USD mark in the coming years, particularly in areas where the UK
excels, such as technology, services, and finance. This will contribute to the socio-economic
development and enhance the position and role of each country on the international stage,
fostering international solidarity, upholding multilateralism, and promoting peace, stability,
cooperation, and development in the region and the world.
The Prime Minister called on the UK, along with its businesses, to work with Vietnam in six
breakthrough areas:
1. Strengthening the connection between the two economies in a more substantive, effective, and
mutually beneficial manner, based on market principles.
2. Embracing the Fourth Industrial Revolution, promoting science and technology, innovation,
digital transformation, and the development of artificial intelligence and blockchain
technology.
3. Focusing on green transformation and responding to climate change, in line with Vietnam’s
commitment to achieving net-zero emissions by 2050.
4. Collaborating in the fields of healthcare, education, culture, and sports, with a particular
emphasis on English language proficiency, aiming to make English the second language of
Vietnam.
5. Cooperating in finance and banking, especially in establishing international financial
centers in Ho Chi Minh City and Da Nang, Vietnam’s free trade centers.
6. Integrating Vietnamese businesses into global value chains and fostering the development of
Vietnamese tech unicorns.
Dong Tu
“Fami Maintains Its Position as One of the Top 2 Most-Purchased Brands”
“According to the Vietnam Brand Footprint 2025 report by Kantar Worldpanel, Fami has once again secured its position as one of the top 2 most chosen dairy and dairy alternative brands in rural areas, and among the top 10 in urban areas across Vietnam’s four major cities. This achievement underscores Fami’s strong presence and popularity in the Vietnamese market, especially in rural communities.”
“Vietnam: The Next Strategic Haven for Global Brands”
“With its young and dynamic population, vibrant consumer behavior, and cost-effective operations, Vietnam, especially Ho Chi Minh City, is poised to become a strategic hub for international brands. The country’s favorable demographics and thriving economy present a lucrative opportunity for global businesses seeking expansion in a promising market.”
Unveiling the Investment Fund That Acquired Shares of Tam Tri Medical Group from VinaCapital
Y khoa Tâm Trí is a leading private multispecialty healthcare system in Vietnam, currently operating four hospitals across key cities: Ho Chi Minh City, Dong Thap, Danang, and Nha Trang.
The International Finance Hub: Ho Chi Minh City and Da Nang
The International Financial Center boasts a comprehensive set of unique policies that govern a range of economic activities. These policies are specifically designed to foster a thriving financial environment, catering to the needs of foreign exchange operations, banking, capital market development, and taxation. The center, located in Ho Chi Minh City and Da Nang, also outlines specific regulations for entry, residence, and labor for experts, managers, and investors, ensuring a seamless experience for all stakeholders.
Chinese Conglomerate Woos the Prime Minister with an Unprecedented Offer After a 20,000 Billion VND Project in Hanoi
The Chinese conglomerate is eager to expand its presence in Vietnam with a bold new vision. With a proven track record of success in the country, the company is now seeking to embark on even larger-scale projects, promising a transformative impact on the nation’s landscape.
