Business

Vietnam pledges favourable conditions for UK businesses

Finance Minister Nguyen Van Thang noted that free trade agreements such as the UK–Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expanded opportunities for businesses in both countries.

Finance Minister Nguyen Van Thang holds a meeting with the UK Prime Minister’s Trade Envoy Matt Western. (Photo: VNA)
Finance Minister Nguyen Van Thang holds a meeting with the UK Prime Minister’s Trade Envoy Matt Western. (Photo: VNA)

Hanoi (VNA) – Finance Minister Nguyen Van Thang has affirmed Vietnam’s commitment to improving its investment environment and creating favourable conditions for foreign enterprises, including those from the United Kingdom.

The statement was made during his meeting in London with the UK Prime Minister’s Trade Envoy Matt Western as part of his recent working trip to the UK and Italy.

At the event, the two sides discussed the state of bilateral cooperation, with Thang stressing that the UK is a strategically important partner for Vietnam, particularly as economic, trade and investment ties have continued on a positive growth trajectory in recent years.

The minister noted that free trade agreements such as the UK–Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expanded opportunities for businesses in both countries. In customs, he said the two governments are working towards the signing of an agreement on cooperation and mutual administrative assistance.

Thang expressed confidence that the meeting would lay an important foundation for strengthening bilateral ties, thereby contributing to socio-economic development in both nations. He also highlighted the significance of 2025, which marks the 15th anniversary of the Vietnam–UK Strategic Partnership (2010–2025). He voiced his hope for the elevation of the two countries' ties to a Comprehensive Strategic Partnership, opening broader and deeper avenues for cooperation.

For his part, Trade Envoy Matt Western welcomed the robust growth in bilateral economic, trade and investment relations and praised Vietnam’s efforts in institutional reform, financial market development and international integration.

He affirmed the UK’s readiness to share expertise, provide technical assistance and cooperate with Vietnamese agencies in establishing an international financial centre, upgrading the status of Vietnam’s stock market and facilitating stronger international capital flows to enhance investor confidence.

The UK currently has 606 valid investment projects in Vietnam with total registered capital of 4.65 billion USD, ranking 15th among 152 countries and territories investing in the country./.

VNA
#UK businesses #UK–Vietnam Free Trade Agreement #Comprehensive and Progressive Agreement for Trans-Pacific Partnership #Vietnam-UK bilateral relations United Kingdom
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