London (VNA) – General Secretary of the Communist Party of Vietnam To Lam and a high-ranking Vietnamese delegation attended the Vietnam–UK Business Roundtable in London on October 30, as part of their official visit to the UK.
General Secretary Lam expressed his satisfaction with the flourishing development of the Vietnam–UK strategic partnership across areas in recent years, noting that economic, trade, and investment cooperation remains a bright spot of the bilateral relations.
Vietnam treasures the contributions of UK associations and businesses to the Southeast Asian nation’s industrialisation, modernisation, and socio-economic development, the Vietnamese Party chief said, noting that UK businesses have consistently observed the host country's laws, paid attention to developing welfare policies for labourers, and prioritised social and environmental responsibility in their investment and business activities in Vietnam.
However, the Party leader noted that economic, trade, and investment cooperation between Vietnam and the UK has yet to match their fruitful political and diplomatic relations, as well as the potential, advantages, and huge room for cooperation of each country.
He called on UK companies to further expand their investment and business activities in areas where the UK has expertise and Vietnam has potential and demand, such as green economy, digital economy, knowledge economy, circular economy, high technology, AI, energy, and finance and banking.
The Party chief urged UK businesses to quickly seize opportunities and promptly turn business ideas into concrete projects that benefit both sides, while making full use of bilateral dialogue mechanisms through key points of contact such as the Ministry of Finance, the Ministry of Foreign Affairs, and the Vietnamese Embassy.
With “strong determination, far-sighted vision, and great aspirations,” Vietnam’s goal of “rising in the new era” is not only a task but also a command of the times and a mission of history, requiring the partnership, cooperation, and support of international partners, including the UK, he said.
Vietnam hopes to continue receiving support and close cooperation of international friends and partners, with foreign investors, especially those from the UK, serving as bridges to promote the country’s development and growth, the Party leader added.
At the roundtable, representatives of outstanding UK businesses highlighted the significance of the event in the context as the two countries upgraded their ties to a Comprehensive Strategic Partnership after more than 50 years of diplomatic relations. They noted that this marks a historic milestone, with bilateral relations having passed through many important stages and achieved positive progress.
They shared candid and insightful views, focusing on measures to foster effective investment cooperation between Vietnam and the UK in the coming time.
Echoing and broadly agreeing with the views of delegates at the roundtable, General Secretary Lam stated that alongside negative impacts, global shifts are also creating new trends, opening up many opportunities for Vietnam.
In this context, Vietnam is seen as a “safe and attractive destination” due to its political stability, strategic location, strong economic growth, skilled young workforce, investor-friendly policies, and an improving business environment, he said.
Vietnam is building on its achievements by improving institutions, enhancing the business environment, removing bottlenecks, and pursuing reforms in law making and enforcement, and promoting science – technology development, innovation, and digital transformation, to drive qualitative economic growth, he stated, adding that Vietnam also aims to make the private sector the “key driver” of the national economy, while deepening international integration.
In attracting foreign investment, Vietnam has moved from a “quantity-focused” approach to a “more selective and quality-focused” strategy, prioritising projects that bring advanced, high, or clean technologies, modern management practices, and high added value, while generating strong spillover effects and integrating into global production and supply chains.
The Vietnamese Party chief showed his hope that the UK government and businesses will offer concrete support to promote technology transfer, improve management capacity, and establish linkages between foreign-invested enterprises and domestic companies, thereby helping Vietnamese businesses join more deeply in global value chains./.
