During the meeting, Deputy PM Nguyen Hoa Binh expressed appreciation for Tony Blair and TBI’s ongoing support, particularly their contributions to the development of Vietnam’s International Financial Center project.

He laid stress on the strong political ties between Vietnam and the UK, highlighting the credibility of British enterprises, many of which have already found success in Vietnam. He expressed hope that more British investors would take an interest in Vietnam’s priority sectors.

Amidst global uncertainties, the Deputy PM reaffirmed Vietnam’s commitment to institutional reforms, improving the investment environment, and attracting financial investors and major financial institutions, especially in emerging sectors such as artificial intelligence (AI), semiconductors, and renewable energy. He sought Tony Blair’s insights, international connections, and strategic recommendations.

The Deputy PM noted that Vietnam has been working with major technology corporations and aims to become a regional data hub while integrating into global supply chains.

Additionally, the country is actively addressing electricity challenges and amending the Electricity Law to promote offshore wind power and hydrogen energy considered the energy of the future.

For his part, Tony Blair expressed delight at Vietnam’s economic achievements and bold reforms, particularly in governance. He affirmed that British businesses are highly interested in Vietnam’s investment climate and keen to explore collaboration opportunities. The former UK Prime Minister expressed his desire to revisit Vietnam soon and reiterated his commitment to beefing up cooperation with the country.

Tony Blair hailed Vietnam’s decision to establish an International Financial Center, calling it a well-timed and strategic move to integrate more deeply into the global financial market. He emphasized that a transparent legal framework and the creation of new investment opportunities are critical factors for success and pledged to share practical international experience.

Regarding energy, Blair highlighted Vietnam’s significant potential for renewable energy and nuclear power development. He identified major corporations such as Rolls-Royce and Hitachi as potential partners. He also underscored the opportunities for Vietnam to develop data centers, emphasizing the importance of energy, water infrastructure, and high-quality human resources.

The TBI Chairman noted that the AI revolution is reshaping the global landscape, with only large-scale investors like the US and China having sufficient resources to lead. He urged Vietnam to develop a strategic approach to capitalize on this trend and attract investment into high-tech industries. He also pledged to facilitate connections with leading US and international corporations.

Concluding the meeting, both sides agreed to continue close cooperation through the Embassy and specific working channels, further advancing key areas of co-operation and deepening the Vietnam-UK partnership in a substantive and effective manner.

Vietnam seeks UK support in developing financial centres

Deputy Prime Minister Nguyen Hoa Binh has called on the UK to support Vietnam in training personnel for its planned regional and international financial centres in Ho Chi Minh City and Da Nang.