Vietnam and UK Strengthen Ties for Financial Centre Development

During a visit to the UK, Permanent Deputy Prime Minister Nguyen Hoa Binh engaged in discussions aimed at strengthening Vietnam-UK ties, focusing on financial sector development, renewable energy investment, and trade expansion. Meetings with UK officials emphasized strategic partnership enhancement, parliamentary cooperation, and assistance in establishing Vietnam’s financial centre. The discussions reflect commitment towards a target of 10 billion USD in bilateral trade by 2025 and collaboration in areas of mutual interest.

During his visit to the United Kingdom on March 18, Permanent Deputy Prime Minister Nguyen Hoa Binh engaged in key discussions with British Deputy Prime Minister Angela Rayner and Speaker of the House of Commons Lindsay Hoyle to strengthen ties. Binh confirmed Vietnam’s commitment to enhancing its strategic partnership with the UK while inviting British collaboration in areas such as the financial sector and renewable energy.

In meetings with Deputy PM Rayner, Binh emphasized the importance of British involvement in Vietnam’s financial development and called for assistance in professional training. Rayner responded by expressing support for Vietnam’s initiatives and exploring opportunities for increased trade and cooperation in energy transition. Both parties also decided to elevate high-level exchanges to reinforce political trust and work towards a target of 10 billion USD in bilateral trade by 2025.

Binh’s discussions with Speaker Hoyle focused on fostering parliamentary cooperation across various sectors, including education, healthcare, and tourism. Hoyle expressed his intent to bolster bilateral relations while both sides addressed security concerns and advocated for peaceful resolutions to disputes. This cooperation aims to contribute to regional and global stability and development.

At a seminar hosted by TheCityUK, Binh acknowledged the pivotal role of British experts and institutions in realizing Vietnam’s financial centre objectives. He encouraged ongoing support for establishing effective policy frameworks. UK Ambassador to Vietnam, Iain Frew, affirmed the significance of these projects and the UK’s commitment to aiding Vietnam’s development.

Nicola Watkinson of TheCityUK noted that the establishment of a financial centre would enhance Vietnam’s international standing and create robust structures for financial institutions. During his visit to the London Stock Exchange, Binh met CEO Julia Holgate, receiving assurances of continued cooperation to advance Vietnam’s stock market.

Binh also met with Swire Group Chairman Barnaby Swire, advocating for increased British investment in Vietnam’s green economy and financial centres. Swire reinforced the group’s long-term investment plans and emphasized collaboration to strengthen ties with global financial hubs. His commitment to projects in Vietnam’s urban development aligns with the ambitions of the nation’s financial centre agenda.

The recent meetings between Vietnam and UK officials signify a commitment to enhancing bilateral cooperation, particularly in financial development, energy transition, and trade. With various sectors targeted for collaboration, there is optimism surrounding the goal of increasing trade relations and developing robust financial frameworks. The partnerships established during these discussions are intended to elevate Vietnam’s profile in international financial markets while ensuring sustainable development in the region.

Original Source: en.vietnamplus.vn