Thai Binh’s investment potential, advantages introduced to British enterprises

London (VNA) – The northern province of Thai Binh introduced its potential and advantages to British enterprises at an investment promotion conference in London on October 12, pledging the best possible environment for all investors.

Secretary of the provincial Party Committee Ngo Dong Hai said Thai Binh, envisioned by the Government to become a province with the developed industrial, trade and service sectors, is growing strongly, boasts an attractive investment climate, and has incentives for industrial, healthcare, educational, and cultural investments. Its administration also strongly supports foreign investors, including British ones.

He expressed his hope that following the conference, cooperation opportunities for Thai Binh and the UK will be opened up in all fields, particularly education, clean energy, industry, finance, and the ones matching the Vietnamese province’s demand and the European country’s strength.

Thai Binh always accompanies and creates optimal conditions for enterprises to make investments, expand production and business activities, and operate profitably in the long term, the official stated.

Vietnamese Ambassador to the UK Nguyen Hoang Long said Vietnam is an emerging, dynamic and fast growing economy, with its localities acting as a driving force for development. Among them, Thai Binh is expected to become a new impetus for economic development in the northern region.

The province is a potential destination for British investors thanks to its favourable investment climate, comprehensive infrastructure, and a contingent of young and dynamic leaders, he went on, adding that the Vietnamese Embassy in the UK will stand side by side with Thai Binh and both countries’ enterprises during the formation and implementation of cooperation projects.

Nigel Evan, Deputy Speaker of the UK House of Commons, noted the two countries’ relations are now in their prime, especially since the signing of the UK - Vietnam Free Trade Agreement (UKVFTA) in 2020. With its participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023, the UK will have chances for further promoting trade ties with Vietnam, an emerging economy among the CPTPP members.

Paul Hoang, Chairman of the Vietnam Business Association in the UK (VBUK), held that with a strategic location, a skilled workforce, a sustainable development strategy and efforts to improve the business environment, Thai Binh is an attractive investment destination and, in fact, has attracted a growing number of domestic and foreign investors.
         
He pointed out chances for Thai Binh, famous for agricultural production, to export farm produce, especially high-quality rice and seafood, to the UK. He also suggested cooperation with British companies in electronics and textile - garment manufacturing, renewable energy, education, technology transfer, and financial services.

The VBUK is ready to help Thai Binh and British enterprises to connect and cooperate with each other for the sake of both sides’ interests, Hoang affirmed./.