The Vietnamese Government will create optimal conditions for British businesses to strengthen cooperation activities and make sustainable investments in the country.
Deputy Prime Minister Vu Van Ninh and Prince Andrew, Duke of York, at Vietnam Economic Forum (Source: VNA)
The Vietnamese Government will create optimal conditions for British businesses to strengthen cooperation activities and make sustainable investments in the country.
Deputy Prime Minister Vu Van Ninh made the pledge at the Vietnam Economic Forum in London on September 10, during which he said Vietnam is striving to finalise its market economic institutions, change its growth model and improve its competitive edge.
The country’s macro economy has been maintained with higher growth rates and curbed inflation, he said, citing the expected national gross domestic product (GDP) growth of 6.5 percent, the highest pace since 2011.
According to the official, Vietnam is targeting trade values of 350 billion USD this year and 600 billion USD in 2020.
Given world economic uncertainties, including the depreciation of the Chinese yuan, plunging world stocks and dropping oil prices, the Vietnamese Government has promptly put forth suitable countermeasures, he said.
Hailing Vietnam’s reform efforts to boost socio-economic development, Prince Andrew, Duke of York, said the UK encourages its businesses to invest in Vietnam while welcoming those from the Southeast Asian nation to run business in his country.
The UK is now Vietnam’s leading partner within the European Union in terms of investment, trade and education.
The country also ranks 15 th among 105 countries and territories investing in Vietnam with a total capital of 4.5 billion USD.
Paul Smith, Chairman of the UK’s Harvey Nash Group, told Vietnam News Agency correspondents that the favourable business environment will help Vietnam’s economy rise in annual ratings.
Attracted by such good conditions, British businesses have paid more attention to Vietnam than other Southeast Asian nations in recent years, he stressed.
Both Vietnamese enterprises and more than 200 British firms participating in the forum saw the event as an opportunity to seek cooperation opportunities.
Later the same day, Deputy PM Ninh held a meeting with Prince Andrew to discuss measures to forge collaboration between the two countries.
The Vietnamese official hoped that the Prince himself and the British royal family would pay more heed to and continue their support for bilateral ties, especially in trade, investment, culture, education, science and technology.-VNA
Prime Minister Nguyen Tan Dung received Prince Andrew, the Duke of York, on the margin of the 50-year celebration of Singapore’s Independence Day, in Singapore on August 9.
British architecture companies Atkins and Arup have started working on a 460-metre skyscraper in HCM City, which will become Vietnam's tallest building on completion in 2017.
Vietnam and the UK have substantial cooperation potential across fields to tap into, especially following UK Prime Minister David Cameron’s visit to Vietnam in July, an ambassador said.
The UK’s Amec Foster Wheeler Energy Limited ( Foster Wheeler ) has been hired to outline a master design for the project to expand and upgrade the Dung Quat oil refinery in Quang Ngai province.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Deputy Prime Minister Vu Van Ninh and Prince Andrew, Duke of York, at Vietnam Economic Forum (Source: VNA)
