Prime Minister Pham Minh Chinh chaired the conference with the participation of representatives of leaders of relevant ministries, sectors and agencies, Ambassador Extraordinary and Plenipotentiary of the United Kingdom to Vietnam Ian Grant Frew, leaders of the British Chamber of Commerce Vietnam (BritCham), and representatives of 25 British enterprises.
This event holds significant importance, acting as a venue for candid discussions regarding policy priorities and long-term collaborative strategies in essential sectors including finance, sustainable development, digital transformation, education, and health.
At the conference, on the occasion of the 15th anniversary of the Vietnam - UK Strategic Partnership, British Ambassador to Vietnam Iain Frew said that bilateral trade relations between the UK and Vietnam have more than doubled since the establishment of the Strategic Partnership. Agreements such as the Vietnam - UK Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have clearly demonstrated the two countries' shared commitment to the multilateral trading system based on international rules. Vietnam is one of two ASEAN countries, besides Singapore, that has an FTA with the UK.
During the conference, delegates engaged in strategic discussions on key areas of cooperation, including the establishment of an international financial center, the promotion of green capital mobilization strategies, and the development of a robust legal framework for green finance to support Vietnam’s Fair Energy Transition Partnership (JETP).
Additional focus areas included sustainable development, renewable energy, digital economy growth, and initiatives to enhance human resources, healthcare, and social welfare.
Upon over 50 years of diplomatic relations between Vietnam and the United Kingdom (1973–2025), the conference highlighted the deep trust and multifaceted collaboration that have delivered significant, long-term benefits to both nations. In trade, the UK ranks as Vietnam’s third-largest trading partner in Europe, while Vietnam is the UK’s largest trading partner in Southeast Asia.
In 2024, bilateral trade reached an all-time high of US$8.4 billion, marking an 18 percent increase from 2023, with both nations aiming to elevate trade to $10 billion in the near future.
On the investment front, as of May 2024, the UK has 598 projects in Vietnam with a total registered capital of $4.64 billion, ranking 15th among 151 countries and territories investing in Vietnam. Over 400 UK businesses, ranging from multinational corporations to small and medium-sized enterprises, are actively operating in Vietnam. These partnerships underscore the UK’s long-term commitment to Vietnam as a strategic hub for high-quality investment, innovation, and sustainable growth.
Following the responses from the leaders of various ministries and agencies to the feedback and suggestions from British businesses, Prime Minister Pham Minh Chinh concluded the discussion by stating that the relationship between the two nations has never been stronger than it is today. He encouraged both parties to continue their collaboration, enhancing the Strategic Partnership to a more profound and beneficial level, with the goal of elevating it further to establish a robust political foundation for the economic ties between the two countries and to foster cooperation in additional areas.
The Vietnamese Prime Minister urged the UK to maintain its support and collaboration with Vietnam in achieving the established objectives, which include the two centennial goals. He emphasized the importance of maximizing the effectiveness of the UK-Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), aiming to increase bilateral trade and UK investments in Vietnam to surpass the $10 billion threshold in the upcoming years.
This is particularly relevant in sectors where the UK excels, such as technology, services, and finance, which will contribute to socio-economic development and enhance the standing and influence of both nations on the global stage.
Furthermore, it will promote international solidarity, uphold multilateralism, and contribute to peace, stability, cooperation, and development both regionally and globally.
The Prime Minister of Vietnam has reaffirmed the country’s commitment to fostering a business environment aligned with market economy principles, the legal frameworks of both Vietnam and the United Kingdom, as well as international laws and practices. This commitment ensures security, safety, and the protection of the legitimate rights and interests of foreign nationals and enterprises, including British businesses operating in Vietnam.
Vietnam is dedicated to maintaining a stable, long-term policy framework that guarantees business freedom, safeguards property rights, and promotes fair competition. These measures aim to provide investors with a secure and conducive environment to operate, grow, and achieve enhanced efficiency.
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