Gov’t facilitates UK businesses' investment in Vietnam

Photo: VGP/Thanh Chung

The forum, themed “Partnership for development: Cooperative opportunities for Viet Nam-UK businesses”, contributed to enhancing Viet Nam-UK Strategic Partnership and encouraged the UK enterprises to pour more investments in Viet Nam as well as boost the imports and exports of agricultural products.

Speaking at the event, Deputy PM Ninh highlighted Viet Nam’s forecasted economic growth of 6.5% and trade turnover of US$350 billion in 2015.

Currently, foreign investors committed to investing around US$265.6 billion in Viet Nam, of which US$132 billion was disbursed.

Especially, Viet Nam is making efforts to complete market economy, renewing the growth model and improving its competitiveness. The nation has actively accelerated international integration through signing the Free Trade Agreements (FTA) with the Republic of Korea and the Eurasian Economic Union (EEU). The Viet Nam-EU FTA and the Trans-Pacific Partnership Agreement will be inked at the end of this year.

These FTA are expected to promote trade relations, facilitate foreign businesses to invest and operate in Viet Nam as well as create forces for Viet Nam to reform its institutions and improve the business environment to meet demands for integration and international regulations, said the Deputy PM.

Currently, the UK has poured US$4.5 billion in Viet Nam, ranking 15th among 105 nations and territories. The UK is the second largest trade partner of Viet Nam in the EU, with the two-way trade turnover reaching US$4.35 billion in 2014 and US$3.1 billion in the first seven months of 2015.

Photo: VGP/Thanh Chung

At the event, Prince Andrew highly appraised Viet Nam’s efforts in its reform and socio-economic development.

He expected to witness the development in the relations not only between their peoples and Governments but also in all areas, especially in trade.

The UK welcomes all Vietnamese businesses to invest and operate in the UK, he asserted.

A number of the UK businesses highly valued the potentials in the two nations’ cooperation and positive developments in Viet Nam’s business environment.