Vietnam, UK bolster ties to develop int’l financial centres
As part of his visit to the UK, on March 18, Permanent Deputy Prime Minister Nguyen Hoa Binh held meetings with British Deputy Prime Minister Angela Rayner and Speaker of the House of Commons Lindsay Hoyle.
Permanent Deputy Prime Minister Nguyen Hoa Binh deliver speech at the seminar. (Photo: VNA)
London (VNA)☂ – As part of his visit to the UK, on March 18, Permanent Deputy Prime Minister Nguyen Hoa Binh held meetings with British Deputy Prime Minister Angela Rayner and Speaker of the House of Commons Lindsay Hoyle.
The official also participated in a seminar on financial centre development and visited the London Stock Exchange.
In his meeting with Deputy PM Rayner, Binh reaffirmed Vietnam's dedication to enhancing its strategic partnership with the UK. He welcomed deeper British engagement in the Asia-Pacific and called for the UK to share its expertise in financial centre development. Encouraging British businesses to invest in Vietnam's financial sector, Binh also sought support for training and attracting skilled professionals. Additionally, he invited British enterprises to expand investments in Vietnam's clean and renewable energy sectors.
Deputy PM Rayner praised Vietnam's financial centre initiative and pledged support from British experts, businesses, and academics. She highlighted opportunities to expand trade and deepen cooperation in energy transition, while advocating closer collaboration in tackling illegal migration and organised crime. Both sides agreed to promote high-level exchanges to foster political trust and celebrate 15 years of the Vietnam-UK strategic partnership (2010-2025), with the goal of boosting bilateral trade to 10 billion USD and beyond.
In his meeting with Lindsay Hoyle, Binh called for closer parliamentary exchanges to deepen ties. Hoyle welcomed stronger cooperation in sectors such as trade, investment, science, education, health care, and tourism. He pledged the UK Parliament's continued support for strengthening bilateral relations.
The two sides touched upon issues related to security and crime prevention, as well as regional and international matters of mutual concern. They shared views in support of resolving disagreements through peaceful means in accordance with international law, for the benefit of the people of both countries, and for peace, stability, cooperation, and development in the region and the world.
At a seminar hosted by TheCityUK, Deputy PM Binh commended British experts and financial institutions for their contributions to Vietnam's financial centre plans. He called on TheCityUK and British enterprises to continue offering expertise to help Vietnam shape effective policies and regulatory frameworks for the projects.
Delegates at the seminar (Photo: VNA)
UK Ambassador to Vietnam Iain Frew underscored the significance of the financial centre projects for Vietnam's development and pledged ongoing British support.
Nicola Watkinson, Managing Director of TheCityUK, highlighted that establishing a financial centre will elevate Vietnam's international profile while creating robust frameworks for institutions such as banks, insurers, asset managers, and venture capital firms. She assured that TheCityUK and its partners are committed to contributing to both the building and operation of financial centres in the Southeast Asian nation.
While visiting the London Stock Exchange, Deputy PM Binh met with CEO Julia Holgate, who reaffirmed the positive outcomes of bilateral stock market cooperation. Holgate pledged support to upgrade Vietnam's stock market to emerging market status and assist Vietnamese businesses in listing on the London Stock Exchange.
Deputy PM Binh called for enhanced collaboration to improve market liquidity and transparency, attract investors, and adopt advanced technologies to develop Vietnam's financial landscape.
He also met with Barnaby Swire, Chairman of Swire Group, a prominent British conglomerate active in Asia. Binh encouraged Swire to expand investment in Vietnam, particularly in green and digital economies, renewable energy, and financial centre development in Ho Chi Minh City and Da Nang.
Swire reaffirmed the group's long-term commitment to Vietnam, including its investments in Coca-Cola and Cathay Pacific. He expressed Swire's intent to expand operations and confirmed plans to accelerate the group's aircraft maintenance project at Van Don Airport.
Recognising Vietnam's vision for financial centres, Swire voiced readiness to collaborate with Vietnam Airlines to strengthen aviation connectivity with global financial hubs. Swire also pledged to share its expertise in urban planning and real estate development, building on successful projects in Hong Kong and Shanghai (China).
Having already invested in the Empire City project in HCM City's Thu Thiem Urban Area, a key component of the city's financial centre plan, Swire committed to further contributing to the district's development. Deputy PM Binh urged Swire to work closely with Vietnamese partners to expand investment activities./.
Vietnamese Ambassador to the UK Do Minh Hung is confident that Standing Deputy PM Nguyen Hoa Binh's visit to the UK will be a success, creating new momentum for cooperation in economy, finance, education, and training, contributing practically to the dynamic and effective development of the Vietnam-UK Strategic Partnership
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