The UK hopes to expand business and investment in Vietnam to double bilateral trade in the near future, UK Prime Minister David Cameron said at a workshop held in Ho Chi Minh City on July 30.

The PM extolled the Vietnamese Government for promoting national competitiveness and creating a fair playground for enterprises in line with international standards.

He said he was also impressed by the country’s achievements in economics and poverty reduction.

He highlighted transparency and equality as important factors for businesses, especially small- and medium-sized enterprises, to seek investment opportunities.

Addressing the workshop, Deputy Prime Minister Nguyen Xuan Phuc said the Vietnamese Government has created a favourable, open and transparent investment climate for businesses to operate in the country.

The Government has also solicited feedback from domestic and foreign entrepreneurs on its reform efforts and corruption prevention to ensure all activities of State-run agencies and businesses are transparent and in line with legal regulations, he added.

He noted that in the context of global economic difficulties, the business community has made significant contributions to the country’s economic growth.

The Deputy PM called on businesses in various fields to forge closer links and enact measures to create a fair business environment.

He also warned that deeper international integration offers both opportunities and challenges for Vietnamese goods and services, resulting in more competitive pressure for domestic enterprises.

The workshop was organised by the Vietnam Chamber of Commerce and Industry and the UK Embassy in Vietnam.

Ho Chi Minh City appeals for UK investment

Ho Chi Minh City hopes that UK Prime Minister David Cameron will support and encourage UK businesses to invest in the city, especially in finance and infrastructure.

Secretary of the municipal Party Committee Le Thanh Hai made the remark at a reception in the city on July 30 for the UK Prime Minister who is on an official visit to Vietnam to promote the two countries’ cooperation.

Hai thanked the UK for its support in recent years and wished the country would continue assisting Vietnam in public-private partnership projects.

Ho Chi Minh City wants to join hands with the UK to deepen the strategic partnership between the two countries in politics, foreign affairs, trade-investment, education-training and people-to-people exchanges, he said.

For his part, PM David Cameron expressed his deep impression on the culture, people and socio-economic achievements of Vietnam and Ho Chi Minh City in particular.

He also praised the city’s efforts to forge ahead with economic restructuring and create a favourable business environment for enterprises from both at home and abroad.

He affirmed his country is willing to share experience with Vietnam in improving infrastructure, finance and urban planning as well as developing education-training and public-private partnership models.

UK firms eye infrastructure cooperation in HCM City

Vice Chairman of the Ho Chi Minh City People’s Committee Tat Thanh Cang held a working session on July 30 with a visiting UK business delegation who came to learn about cooperation opportunities in local infrastructure development.

Reviewing the local socio-economic situation, Cang said the city is focused on four industries: electronics-information technology, machinery-transport, chemistry-plastics-rubber and food processing.

The city also prioritises the building of public transport systems including eight metro lines, he noted, highlighting the development potential of seaport and logistics sectors as 60-70 percent of goods shipped in and out of Vietnam are currently transported through HCM City.

The official said the Vietnamese southern economic hub is calling for investment in many projects, especially from foreign companies and banks. He also suggested UK investors engage in local projects.

UK Minister for Small Business, Industry and Enterprise Anna Soubry said the delegation’s visit to the city was intended to seek cooperation opportunities in infrastructure development, noting that British companies have experience with major projects in this realm.

She also expressed interest in the deep-water seaport and Thu Thiem residential area projects.

The visiting delegation included representatives from leading UK businesses in construction, electricity and energy.

VNA