Home » Vietnam Prioritizes Economic and Trade Relations with UK: Prime Minister

Vietnam Prioritizes Economic and Trade Relations with UK: Prime Minister

by admin477351
Photo by VietinBank - Ngân Hàng TMCP Công Thương Việt Nam via Wikimedia Commons (CC BY 3.0)

During a meeting in Hà Nội on Wednesday, Prime Minister Lê Minh Hưng welcomed Iain Frew, the United Kingdom’s Ambassador to Việt Nam, emphasizing the significance of the relationship between the two nations. PM Hưng expressed his gratitude to British Prime Minister Keir Starmer for the congratulatory message he received after assuming his position. The prime minister appreciated the ambassador’s efforts and the British Embassy’s role in enhancing bilateral relations, notably marked by the elevation of ties to a Comprehensive Strategic Partnership during the official visit of Party General Secretary Tô Lâm to the UK in October 2025.

PM Hưng highlighted the vast potential for collaboration in areas such as trade, investment, finance, science and technology, education, green transition, renewable energy, and defence. He proposed an increase in delegation exchanges and high-level visits, along with the swift creation of an action plan to implement the Comprehensive Strategic Partnership. The prime minister also set ambitious goals for trade, aiming to boost bilateral trade turnover to US$10 billion by 2026, with aspirations to reach $15 billion by expanding market access. He assured that the Vietnamese Government is committed to providing favorable conditions for foreign investments, including those from British enterprises.

The prime minister underscored the importance of bilateral cooperation in establishing the Việt Nam International Financial Centre (VIFC). He called for continued UK support in enhancing institutional frameworks, developing legal structures, and mobilizing resources for strategic infrastructure projects. He also urged the UK to assist in symbolic initiatives that align with the bilateral Comprehensive Strategic Partnership. Additionally, PM Hưng thanked the UK for supporting the Vietnamese community there, encouraging further integration and contribution to the host country’s socio-economic development.

Ambassador Frew commended Việt Nam for its recent socio-economic progress and expressed his eagerness to further strengthen bilateral relations across various sectors. He recognized Việt Nam’s leadership role as Chair of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2026 and confirmed the UK’s readiness to collaborate to enhance both bilateral and global trade. British investors view Việt Nam positively, especially in energy, finance, and the green transition, with the UK aspiring to be a key partner in the Just Energy Transition Partnership (JETP).

Frew agreed with PM Hưng’s proposals and assured continued cooperation in defense and security, science, technology, innovation, and education. He emphasized supporting high-tech human resource training, promoting English in Vietnamese schools, and partnering in green finance and the VIFC’s development. Both sides concurred on the importance of coordination in multilateral settings, strengthening ASEAN–UK relations, and ensuring freedom and security of navigation, contributing to regional and global peace and stability.

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