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UK investment to climb in Viet Nam
The UK’s foreign direct investment in Viet Nam is expected to rise, the British ambassador to Viet Nam, Mark Kent, has said.
Speaking at a press conference in Ha Noi on Thursday, Kent said since Prime Minister Nguyen Tan Dung’s visit to London March 2008 there had been increased interest in Viet Nam from UK investors.
Kent said the visit to Viet Nam by the British Secretary of State for Business, Enterprise and Regulatory Reform, John Hutton, was further indication of the importance attached to Viet Nam-UK relations.
"The latest investment statistics from the Ministry of Planning and Investment show that the UK is now the third largest EU investor in Viet Nam, and should a few of the projects discussed during PM Dung’s visit get final approval, we should lead the table," said Kent.
According to figures from the British embassy, UK companies are already among the largest EU investors in Viet Nam, with total investment worth around US$1.9 billion in 105 projects.
Two-way trade between the two countries is worth over $133.7 million in 2007.
Kent said the most visible development on UK-Viet Nam relationship has been in the banking sector with the agreement that HSBC and Standard Chartered Bank’s application can locally incorporate.
"You will notice around town that this means there are additional branches preparing to open, which when they do will be able to offer an expanded range of services to the consumer," said Kent.
In a joint declaration, Dung and British PM Gordon Brown agreed to work together on five priority areas: trade and investment; development; international issues; education and tackling illegal migration and organised crime.
During the press meeting, the ambassador also announced a number of high-level visits and forthcoming events, which will mark the 35th anniversary of UK-Viet Nam diplomatic relations.
VNS
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