Handicrafts from HCM City were displayed during the conference on promoting trade and investment collaboration between the UK and the city on October 24. — VNA/VNS Photo

HÀ NỘI — The southern economic hub of HCM City has been proactively cooperating with the United Kingdom in all aspects, offering businesses more opportunities to foster bilateral relationships. 

On October 23 in London, the municipal People's Committee organised a seminar to gain experiences from the UK in developing international financial centres. The seminar featured financial and investment institutions, banks and major businesses in the UK. 

During the event, delegates from HCM City raised many questions related to choosing a model to quickly build a financial centre that could attract many investors. At the same time, UK financial experts shared experiences and requirements to successfully establish an international financial centre for developing countries.

A day later, HCM City officials also teamed up with the Vietnamese Embassy in the UK to host a conference on promoting trade and investment collaboration between the UK and the city.  

At the conference, organisations and businesses from the UK and HCM City offered valuable insights and recommendations for promoting investment and trade. They also expressed a strong desire to bolster cooperation among businesses in other potential sectors such as banking and finance, logistics, technology, green energy, education and technology. 

Previously in mid-March, chairman of the municipal People's Committee Phan Văn Mãi said HCM City benefited from good relations between Việt Nam and the UK, and that the city wished to work together with the UK to step up trade activities to soon fulfil the target of raising bilateral trade to US$1 billion. 

HCM City would coordinate with the British Consulate General in the city and British partners to implement the agreements, contributing to consolidating and promoting two-way relations, he said.  

Over the past five years, HCM City and the British Consulate General have teamed up to organise many events such as a roundtable conference between the two countries' firms and a dialogue on customs procedures. 

While hosting Mark Garnier, the British Prime Minister's Trade Envoy for Việt Nam, Thailand, Myanmar and Brunei, Mãi said HCM City would coordinate with the British Consulate General in the city and British partners to implement the agreements, contributing to consolidating and promoting two-way relations.  

Garnier said British firms were interested in and ready to cooperate with HCM City in materialising the plan of building the city into a regional financial centre that is competitive globally. 

They were also fully aware of HCM City’s potential and demand in health care and drug research, and wished to step up cooperation with the city in this regard, and promised to support the southern metropolis in development, Garnier said.

He added that the UK was willing to cooperate and assist HCM City in high-quality personnel training in service of banking, financial and medical sectors, contributing to fostering the trade and investment ties between the two sides and the two countries at large. 

HCM City is one of five cities that have been effectively exploring the UKVFTA beside Hà Nội, Hải Phòng, Đà Nẵng and Cần Thơ. Last year, the trade turnover among the UK and the above-mentioned cities reached over US$2.63 million. Of which, exports hit $1.59 million, up 3.5 per cent year-on-year while imports saw a yearly decrease of 1.3 per cent to $1.04 million. — VNS

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