Business

Vietnam, UK share experience in financial field

The United Kingdom is willing to provide technical assistance to help increase the efficiency of the Vietnamese economy, and intensify cooperation with the country in preventing money laundry, UK Chancellor of the Exchequer Philip Hammond said on July 3.
Vietnam, UK share experience in financial field ảnh 1UK Chancellor of the Exchequer Philip Hammond (R) welcomes Vietnamese Finance Minister Dinh Tien Dung (Source: VNA)

London (VNA) - The United Kingdom is willing to provide technicalassistance to help increase the efficiency of the Vietnamese economy, andintensify cooperation with the country in preventing money laundry, UK Chancellorof the Exchequer Philip Hammond said on July 3.

Hammond made the statement when receivingVietnamese Finance Minister Dinh Tien Dung who is leading a delegation from theFinance Ministry and the State Securities Commission of Vietnam (SSC) on aworking trip to the UK from July 2-6.

Dung briefed the host on Vietnam’s economicsituation as well as measures its Government has taken to boost sustainableeconomic growth, reduce public debts, maintain low inflation, step up economicrestructuring and attract more direct and indirect investments.

The host showed his interest in theequitisation of State-owned enterprises in Vietnam.

The Vietnamese delegation also had aworking session with CEO & Director-International Development at LondonStock Exchange Plc Nikhil Rathi, during which SSC Chairman Tran Van Dung saidthat the UK’s indirect investment in Vietnam, at nearly 1 billion USD, is quitemodest compared to UK investors’ potential and the Vietnamese market’sabsorption capacity.

Therefore, the promotion of investment inLondon is of significance to increase the UK’s indirect investment in Vietnam,he added.

The UK is the second biggest Europeaninvestor in Vietnam, after the Netherlands, with 267 FDI projects worth 3.75 billionUSD, and Vietnam’s third largest trade partner in Europe after Germany and theNetherlands.

The two sides have signed an agreement ondouble taxation avoidance and another on investment protection and promotion,and are working to speed up the signing of a free trade agreement.-VNA
VNA
#Vietnamese Finance Minister Dinh Tien Dung #United Kingdom #Chancellor of the Exchequer Philip Hammond #money laundry #State Securities Commission of Vietnam #Vietnam #Vietnamplus #Vietnam News Agency United Kingdom Vietnam
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