Vietnam and the UK Strengthen Ties to Advance International Financial Development

Vietnam’s Deputy Prime Minister Nguyen Hoa Binh’s visit to the UK involved pivotal discussions aimed at enhancing bilateral ties, particularly in financial center development and investment opportunities. His engagements highlighted opportunities for UK expertise in Vietnam’s financial sector and the significance of cooperation in trade, energy, and crime prevention initiatives. Both nations seek to bolster their strategic partnership while working toward mutual growth and success.

During his visit to the United Kingdom on March 18, Permanent Deputy Prime Minister Nguyen Hoa Binh held discussions with British Deputy Prime Minister Angela Rayner and Speaker of the House of Commons Lindsay Hoyle. His itinerary included a seminar focused on financial center development, alongside a visit to the London Stock Exchange, emphasizing the commitment of both nations to enhance and expand cooperation in various sectors.

In his meeting with Deputy Prime Minister Rayner, Mr. Binh reiterated Vietnam’s commitment to strengthening its strategic partnership with the UK. He encouraged more British involvement in the Asia-Pacific region, requesting that the UK share its expertise in financial center development while urging British businesses to invest in Vietnam’s financing sector. Additionally, he sought support for the training of skilled professionals and promoted investment in Vietnam’s clean and renewable energy sectors.

Deputy PM Rayner expressed support for Vietnam’s financial center initiatives and promised assistance from British experts and businesses. Furthermore, she acknowledged the potential for expanded trade and deeper collaboration in energy transition initiatives while highlighting the necessity for joint efforts against illegal migration and organized crime. Both officials agreed on the importance of high-level exchanges to enhance political trust as they celebrate 15 years of strategic partnership.

During his discussions with Speaker Lindsay Hoyle, Mr. Binh advocated for closer parliamentary exchanges to reinforce bilateral relations. Mr. Hoyle expressed optimism regarding collaboration in trade, investment, science, education, healthcare, and tourism, reiterating Parliament’s backing for enhancing these relations further.

The dialogue also covered significant issues surrounding security, crime prevention, and regional and international concerns. Both parties affirmed their commitment to resolving disputes peacefully, adhering to international law, and fostering the welfare of their citizens, which ultimately contributes to stability and cooperation on a global scale.

At a seminar presented by TheCityUK, Deputy PM Binh praised British expertise and contributions to Vietnam’s financial center projects. He urged TheCityUK and British enterprises to lend their knowledge and experience towards developing effective policies and regulations for these initiatives.

UK Ambassador to Vietnam, Iain Frew, highlighted the importance of financial center developments for Vietnam’s growth trajectory and assured continued British support. Nicola Watkinson, Managing Director of TheCityUK, noted that establishing a financial center will enhance Vietnam’s international stature and create a robust institutional framework for the financial sector.

While visiting the London Stock Exchange, Deputy PM Binh met CEO Julia Holgate, who reaffirmed the successes of their stock market collaboration and pledged support in upgrading Vietnam’s stock market to emerging market status. Mr. Binh emphasized the need for improved market liquidity and transparency, alongside the adoption of advanced technologies to enhance Vietnam’s financial landscape.

In meetings with Barnaby Swire, Chairman of Swire Group, Mr. Binh encouraged expansion of investments in Vietnam, particularly in green and digital economies. Mr. Swire confirmed the enduring commitment of Swire Group to Vietnam, pledging support for developing critical projects like the aircraft maintenance at Van Don Airport and financial centers in Ho Chi Minh City and Da Nang.

Swire expressed readiness to assist Vietnam Airlines in establishing stronger aviation ties with global financial hubs, sharing his expertise in urban planning and real estate development based on successful past projects in Hong Kong and Shanghai. He also committed to further engagement in the Empire City project as part of Ho Chi Minh City’s financial center initiative, urging a collaborative spirit with Vietnamese partners in investment activities.

In conclusion, the meetings between Vietnam’s Deputy Prime Minister Nguyen Hoa Binh and various UK officials signify a substantial commitment to strengthening bilateral relations, particularly in the realms of finance, trade, and energy. The continued collaboration and exchange of expertise aim to elevate Vietnam’s status as a financial center and foster mutual growth in both nations. Such engagement will undoubtedly contribute to long-term economic development and strategic partnership enhancement.

Original Source: en.vietnamplus.vn