UK, Vietnam aim for high-income, high-value economy under vision 2045

This year’s forum, organized annually by the British Chamber of Commerce in Vietnam (BritCham Vietnam) with support from the British Embassy in Hanoi and the British Consulate-General in Ho Chi Minh City, partnered with the Ho Chi Minh City Center for the Fourth Industrial Revolution (HCMC C4IR) as part of the Ho Chi Minh City Autumn Economic Forum 2026.

The event aimed to promote sustainable regional growth and closer economic connectivity under the spirit of cooperation in a new era.

Opening the forum, Nguyen Cong Vinh, Vice Chairman of the Ho Chi Minh City People's Committee, stated that the event brought together policymakers, business leaders, and experts to seek new drivers for bilateral trade and investment.

 He noted that the UK holds strong complementary advantages for Vietnam in financial services, capital markets, professional advisory, education, and clean energy. Bilateral trade reached approximately US$9.4 billion in 2025, an increase of 11.3% from the previous year, thanks to the bilateral free trade agreement and the upgraded Comprehensive Strategic Partnership.

Vinh outlined four cooperative priorities: attracting high-quality investment linked with technology transfer and local supply chain integration; developing capital markets and an international financial center in the city; building green supply chains and advancing renewable energy; and fostering talent alongside sustainable urban development through 2045.

British Ambassador to Vietnam Iain Frew affirmed the UK's readiness to partner with Vietnam in mobilizing capital for growth, advancing technology and innovation to enhance national competitiveness, and supporting green transition efforts across renewable energy, sustainable agriculture, green construction, and climate tech.

Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia, and Laos, praised Vietnam’s economic performance, saying that growth exceeded 9% during the nine-month period of the year despite global volatility, placing the country among the world's fastest-growing economies.

However, Sherman cautioned that the growth model that brought Vietnam to its current standing will not suffice to propel the nation into high-income status. She pointed to three structural challenges: peak working-age demographics, low productivity growth, and loose linkages between foreign direct investment (FDI) and domestic enterprises.

To resolve these hurdles, Sherman proposed mutually reinforcing priorities, including creating higher-quality jobs, connecting markets, people, and regions; turning climate risks into growth opportunities; and strengthening institutional capacity, noting that each priority offers a clear area for UK cooperation.

Sherman also shared her perspective that Vietnam stands on the threshold of its second major transformation, noting that while the first moved workers from farms to factories, the second must elevate enterprises up the value chain, connect workers to better jobs, and shift the State from a managerial role to a driver of national development.

Vietnam, UK step up cooperation in training, theoretical research

A delegation from the Ho Chi Minh National Academy of Politics (HCMA), led by Le Hai Binh, Member of the Communist Party of Vietnam Central Committee and Permanent Deputy Director of the Academy, has paid a working visit to the UK.

UK, Vietnamese businesses expand cooperation towards high-value growth

As Vietnam enters a new phase of growth-model transformation, with a focus on improving competitiveness towards its goal of becoming a developed, high-income country by 2045, the UK business community sees room for bilateral cooperation to expand beyond trade and investment into technology, innovation, human resources.