Vietnam – a potential market for UK businesses
(VOV) - Lord Mayor of London Fiona Woolf has called for further development of trade ties between Vietnam and the UK as Vietnam is considered an important market for UK investors.
The main tasks of London financial centre is to promote investment and trade in all fields, especially in service and the centre is eager to support investment attraction and boost Vietnamese exports, she said.
Ms Fiona Woolf expressed delight at the upcoming visit to Vietnam, saying as the Lord Mayor of London, she plays a crucial role as the ambassador for the UK’s financial services and professional consultancy sectors. Vietnamese import demands are expected to increase 250% in the next decade, which is much higher than other newly-emerging economies. This is also one of the reasons Vietnam is listed as one of the UK Trade & Investment (UKTI)’s 20 high growth markets in the world.
Meanwhile, the UK is the cradle of leading experts in the financial service and consultancy areas which has played an important role in developing the national economy.
Although several UK businesses have operated in Vietnam, a stronger strategic partnership between Vietnam and UK will enable them to provide these services to Vietnamese customers and partners.
The UK is selected as a long-term partner for Vietnam’s Public-Private Partnership (PPP) projects. The strong development of the oil and gas sector in the region is expected to become a potential cooperative field to deliver economic benefits to both nations in the time ahead.
Vietnam is the third largest owner of crude oil reserves in the South East Asia and UK companies areequipped with necessary technical expertise to support the development of the industry, paving the way for a new area for producing oil and gas and developing renewable energy sustainably.
Lord Mayor of London also emphasised the need for Vietnamese businesses to invest in training activities for future sustainable development. This offers huge potential for enhancing strategic partnership between the two nations as the UK has time-honoured tradition in granting the Education, Training and Qualifications (ETQ) certificates in financial service and professional consultancy
During an upcoming visit to Vietnam, Ms Fiona Woolf will grant a Mansion House scholarship to a Vietnamese student to study in London and strengthen cultural exchange between the two nations.
As the second female Lord Mayor of London , Ms Fiona Woolf has spent a great deal of efforts in promoting gender equality during her term of office.
She expressed desire that the forthcoming visit will give Vietnamese businesses the chance to enhance trade links with their UK partners, laying a solid foundation for future cooperation.