Vietnamese Minister of Finance Đinh Tiến Dũng (left) on Wednesday meets UK Chancellor of the Exchequer Philip Hammond on his working trip to the UK. – VNA/VNS Photo Diễm Quỳnh

LONDON –The United Kingdom is willing to provide assistance to increase the efficiency of the Vietnamese economy, and intensify co-operation on preventing money laundering, Chancellor of the Exchequer Philip Hammond said on Wednesday.

Hammond made the statement when receiving Vietnamese Minister of Finance Đinh Tiến Dũng who is leading a delegation from the finance ministry and the State Securities Commission of Việt Nam (SSC) on a trip to the UK from July 2-6.
Dũng briefed his host on Việt Nam’s economic situation as well as measures the Government has taken to boost growth, cut public debts, maintain low inflation, restructure the economy and attract more investment.

Hammond expressed interest in the equitisation of State-owned enterprises in Việt Nam.
The Vietnamese delegation also had a working session with CEO & Director-International Development at London Stock Exchange Plc Nikhil Rathi, during which SSC Chairman Trần Văn Dũng said the UK’s indirect investment in Việt Nam, at nearly US$1 billion, is modest compared to UK investors’ potential and the Vietnamese market’s absorption capacity.
The UK is the second biggest European investor in Việt Nam, after the Netherlands, with 267 foreign direct investment projects worth $3.75 billion, and Việt Nam’s third largest trade partner in Europe after Germany and the Netherlands.
The two sides have signed an agreement on double taxation avoidance and another on investment protection and promotion, and are working towards a free trade agreement. – VNS