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VietNamNews

UK: Investment climate needs transparency

Update: June, 12/2013 - 10:36

HCM CITY (VNS)— Viet Nam should strive to provide the transparency and predictability that investors seek, visiting UK Trade and Investment Minister Stephen Green said yesterday.

This would enable the country become more competitive and attract increased investment, Green said at a press conference in HCM City.

Green's first visit to the country aims to strengthen bilateral trade and investment ties between the UK and Viet Nam. The visit is part of a tour of the Southeast Asian region, a British Embassy press release said.

It said that Green discussed with local officials ways in which the UK can support urban development plans in HCM City, including its urban railway system, the new Thu Thiem urban area, and the international Long Thanh airport.

He also co-chaired a roundtable discussion with the vice chairwoman of the City's People's Committee, Nguyen Thi Hong, and witnessed the signing of two Memorandums of Understanding by the British Business Group Viet Nam and the UK's Child Exploitation and Online Protection Centre and the Council of British Chambers of Commerce in Europe.

He will also co-chair a roundtable discussion in Ha Noi with the Deputy Minister of Culture, Sports and Tourism, Le Khanh Hai.

An agreement for a UK-funded project to enhance the effectiveness of intellectual property rights enforcement in Viet Nam will be signed during Green's visit.

Green's visit is an opportunity to share the UK's experience in organising the London 2012 Olympics and Para-Olympics with the Vietnamese Government as it prepares to host the 2019 Asian Games, the press release said.

The UK is the fifth largest exporter of goods to Viet Nam from within the European Union. It is also Viet Nam's third largest EU investor and the second largest investor in financial services.

Viet Nam and the UK signed a Strategic Partnership Agreement in 2010.

British Ambassador Antony Stokes said Green's visit was happening "at a time of opportunity for both countries.

"We set ourselves ambitious targets to boost trade and investment under the 2010 Strategic Partnership Agreement. Now in the 40th year of Viet Nam – UK diplomatic relations, this high level visit will stimulate further growth and support flagship commercial projects."—VNS


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