General Secretary To Lam attends Vietnam-UK Business Forum in London
WVR - On the morning of October 30, in London, the Ministry of Finance of Vietnam, in collaboration with the Vietnamese Embassy in the United Kingdom of Great Britain and Northern Ireland, organized the Vietnam-UK Business Forum.
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| General Secretary To Lam and delegates attending the Vietnam-UK Business Forum. (Source: VNA) |
General Secretary To Lam and the high-level Vietnamese delegation attended the forum. The event also saw the participation of numerous prominent businesses from the United Kingdom and Vietnam.
At the forum, leaders of prominent UK businesses emphasized that this event is organized at a significant time as the two countries elevate their relationship to a Comprehensive Strategic Partnership after more than 50 years of diplomatic relations. This historical journey has seen the bilateral relationship undergo many important milestones and achieve positive developments. UK business leaders shared heartfelt opinions, directly addressing effective Vietnam-UK investment cooperation in the future.
Highly appreciating and generally agreeing with the delegates' opinions, the General Secretary emphasized at the forum that the world is witnessing rapid, complex, and unpredictable economic, political, scientific, and AI-driven changes. Strategic competition, military conflicts, tariff protectionism, climate change, natural disasters, and increasingly extreme pandemics negatively impact the growth prospects of most economies.
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| General Secretary Tô Lâm with delegates attending the Vietnam-UK Business Forum. (Source: VNA) |
However, global changes are also creating new shifts, opening up many new opportunities for Vietnam. In this process, Vietnam is considered a "safe destination" and attractive due to the following factors: stable political foundation; geostrategic location; increasingly deep international integration; rapid, stable, and sustainable economic growth; young, abundant, dynamic, competitive workforce in the "golden population" phase; increasingly open legal institutions, in line with international practices and laws; superior investment incentives; and an improving business investment environment.
The General Secretary stated that, based on achieved results, Vietnam is continuing to perfect its institutions, improve the business investment environment, and resolve "bottlenecks" to unlock resources, promoting economic restructuring associated with innovation in growth models. Notably, Vietnam is implementing important policies to create momentum for a new phase, including: reforming the construction and implementation of laws, establishing a comprehensive, transparent legal system increasingly aligned with international business laws, forming the foundation for a stable business investment environment and promoting innovation. Creating breakthroughs in science, technology, innovation, and digital transformation, identifying these as the main drivers for economic restructuring, growth model innovation, and creating "qualitative" changes in economic growth and development in the coming time.
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| General Secretary To Lam speaking at the Vietnam-UK Business Forum. (Source: VNA) |
Vietnam identifies the development of the private economy as "one of the most important drivers" of the national economy; the development of the private economy is not only an economic requirement but also a political mandate to meet the development needs of the era; promoting international integration; where internal resources are placed in a decisive position; external resources are a supplementary and important support for the development process; simultaneously, proposing important policies to create breakthroughs in energy, education and training, healthcare, and public health.
Regarding cooperation and attracting foreign investment, Vietnam has shifted from a "broad attraction" mindset to a "deep attraction" approach, selectively to meet the practical development requirements, prioritizing projects with advanced, new, high, and clean technologies, modern management, high added value, widespread impact, and connection to global production and supply chains.
The General Secretary expressed delight in the positive development of the Vietnam-UK Strategic Partnership in all aspects, gradually becoming substantive, effective, and deep. Economic, trade, and investment cooperation continues to be a "highlight" in the bilateral relationship between the two countries. Vietnam appreciates the associations and businesses from the United Kingdom for their contributions to the industrialization, modernization, and socio-economic development of the country. Vietnam welcomes UK businesses that have always complied with the law, focused on developing institutions for workers, and emphasized social and environmental responsibility in their investment and business activities in Vietnam.
In addition to the positive results achieved, the General Secretary believes that the economic, trade, and investment cooperation results between Vietnam and the United Kingdom have not yet matched the excellent political-diplomatic relations and the potential, strengths, and cooperation opportunities of each country.
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| Representatives of UK businesses attending the forum. (Source: VNA) |
To maximize the potential of both countries in the coming period, the General Secretary urged UK businesses to continue expanding their investment and business activities in areas where the UK has strengths and Vietnam has potential and demand, such as: green economy, digital economy, knowledge economy, circular economy, high technology, AI, energy, finance, and banking...
UK businesses should quickly "seize opportunities" and soon "transform" business ideas into practical projects that benefit both sides; leverage bilateral dialogue mechanisms through focal points such as the Ministry of Finance, Ministry of Foreign Affairs, and the Embassy.
The General Secretary hopes that the UK Government and businesses will provide practical solutions to enhance technology transfer, improve management capacity, and form linkages between FDI enterprises and domestic businesses. This will enable Vietnamese enterprises to participate more deeply in the global value chain.
The General Secretary affirmed that with "high determination, long-term vision, and great aspirations", Vietnam's goal to "rise in the new era" is not only a task but also a mandate of the era and a mission of history. This mission requires the companionship, cooperation, and sharing of the international partner community, including the United Kingdom.
The Party, State, and People of Vietnam are committed to always "accompanying" and wish to continue receiving the support and close cooperation of international friends and partners, with the role of a bridge and promotion by foreign investors, especially British investors, in the process of building and developing the country.
