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Vietnam Prioritizes Economic and Trade Relations with UK: Prime Minister

by admin477351

On Wednesday, Vietnamese Prime Minister Lê Minh Hưng welcomed the United Kingdom’s Ambassador to Việt Nam, Iain Frew, in Hà Nội, emphasizing the significant value Việt Nam places on its relationship with the UK. During the meeting, PM Hưng expressed gratitude to British Prime Minister Keir Starmer for his congratulatory message following Hưng’s election, and he acknowledged the efforts by Ambassador Frew and the British Embassy in enhancing the cooperative relationship between the two nations. Notably, this includes the elevation of Việt Nam–UK relations to a Comprehensive Strategic Partnership during Party General Secretary Tô Lâm’s official visit to the UK in October 2025.

Prime Minister Hưng highlighted the potential for expanded collaboration between the two countries in areas such as trade, investment, finance, science and technology, education, green transition, renewable energy, and defense. He proposed increased exchanges and high-level visits to strengthen the cooperation framework, suggesting the creation of an action plan to solidify the Comprehensive Strategic Partnership. PM Hưng also set ambitious goals for bilateral trade, aiming to reach $10 billion in 2026 and grow to $15 billion through improved market access for both countries’ products. He assured that Việt Nam provides a favorable environment for foreign investment, including from British enterprises.

Moreover, PM Hưng underscored the importance of bilateral efforts in establishing and growing the Việt Nam International Financial Centre (VIFC), inviting the UK to assist in enhancing Việt Nam’s institutional frameworks and financial systems. This support would be crucial for mobilizing resources for strategic infrastructure projects. Additionally, he called for the UK Government’s continued support in integrating the Vietnamese community within the UK, aiding both their contributions to the UK’s socio-economic landscape and the strengthening of bilateral relations.

Ambassador Frew expressed his congratulations on Việt Nam’s socio-economic progress and his commitment to fostering deeper, more effective bilateral cooperation. He praised Việt Nam’s leadership role as Chair of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2026 and confirmed the UK’s readiness to collaborate on enhancing trade relations. Frew noted the confidence British investors have in Việt Nam’s growth potential, particularly in sectors like energy, finance, and green transition, and reiterated the UK’s interest in being a long-term partner in the Just Energy Transition Partnership (JETP).

Frew agreed with PM Hưng’s proposals and emphasized ongoing collaboration in defense, security, science, technology, and innovation sectors. He highlighted efforts to connect networks of experts and investors, support high-tech human resource training, advance educational partnerships, and promote English language education in Việt Nam. Both sides committed to strengthening multilateral cooperation, enhancing ASEAN–UK relations, and ensuring maritime freedom and security, all contributing to regional and global peace and stability.

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