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