HCMC – Vietnam is looking to tap into British expertise and investment to establish an international financial center, Deputy Prime Minister Nguyen Hoa Binh said during a visit to the United Kingdom on March 18.
During a meeting in London with British Deputy Prime Minister Angela Rayner, Binh urged the UK to share financial sector expertise and encourage businesses to invest in Vietnam, the Vietnam News Agency reported.
He also sought UK support in workforce training and policy development to strengthen the country’s financial sector.
Rayner affirmed the UK’s commitment to expanding cooperation between financial institutions, businesses, and experts from both countries. She also highlighted investment opportunities in renewable energy, emphasizing the UK’s interest in supporting Vietnam’s sustainable development goals.
Both sides pledged to leverage existing trade agreements, including the UK-Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), aiming to increase bilateral trade to US$10 billion.
Deputy PM Binh also met with The CityUK, an industry group representing major financial firms such as Standard Chartered, HSBC, and Prudential, where he invited British experts to contribute to Vietnam’s regulatory framework for the financial sector.
British Ambassador to Vietnam Iain Frew described the financial center project as a significant step in economic cooperation and reaffirmed the UK’s support for its development.
Additionally, Binh held talks with Barnaby Swire, chairman of Swire Group, to discuss investment opportunities in Vietnam. Swire, whose company holds stakes in Coca-Cola and Cathay Pacific, expressed interest in expanding investments in Vietnam, including a proposed aircraft maintenance project at Van Don Airport.
