Viet Nam has paid a great deal of attention to improving the environment for sustainable development and investment, Deputy Prime Minister Vu Van Ninh declared at a business forum in London yesterday.

Deputy Prime Minister Vu Van Ninh expressed his belief that Viet Nam and the EU would reach a free trade agreement this year.— Photo vgp

Ninh noted that many British firms had enjoyed effective operations in Viet Nam, such as Prudential, NashTech Harvey Nash and HSBC and Standard & Chartered banks. The enterprises helped Viet Nam to upgrade its infrastructure system and develop highly qualified human resources.

However, the fact that some countries, including the UK, have not recognised the market economy of Viet Nam posed many difficulties for the country during its development process, he said, calling on the British business community to convince the country's government to acknowledge Viet Nam's market economy regulations.

He also expressed his belief that Viet Nam and the EU would reach a free trade agreement this year.

Earlier, Ninh attended a meeting with the Viet Nam-UK Network, which was established during Party General Secretary Nguyen Phu Trong's UK visit in January last year and aims to strengthen economic-trade-investment co-operation between the two countries.

At the meeting, Deputy PM Ninh and Paul Smith, vice president of the network, agreed that small and medium-sized UK firms, which make up 80 per cent of the nation's GDP, could excel in Viet Nam.

Ninh also met with representatives from some UK companies before paying tribute to President Ho Chi Minh at the New Zealand House in London, where there is a plaque dedicated to him. The house was built in the foundation of the Carlton Hotel, where the late President worked from 1913-17 while staying in London.

Today, the Deputy PM is scheduled to meet Mayor of London Boris Johnson and visit the headquarters of Standard & Chartered Bank.

In 2013, two-way trade between Viet Nam and the UK hit over US$4 billion.

Source: VNS