China Direct

UK and Vietnam hold talks as trade increases by almost 11%

 

• UK and Vietnam hold their first Joint Economic and Trade Committee (JETCO) in three years
• UK and Vietnam look to strengthen trade partnership and reinforce net zero commitments.

• UK-Vietnam trade has grown by almost 11% in a year as the UK continues to deepen trade relationships in the Indo-Pacific region.
• Vietnam is a member of CPTPP – a free trade area with a GDP of £9 trillion which the UK is in the process of joining.

The UK and Vietnam held their first Joint Economic and Trade Committee (JETCO) in three years (25 May 2022) in a bid to increase cooperation across several sectors, including education, agriculture, technology, healthcare and renewable energy.

The Minister of State for Trade Policy, Penny Mordaunt, welcomed her Vietnamese counterpart, Mr Dang Hoang An, Vice Minister of Industry and Trade, to London for the talks.

Minister of State for Trade Policy Penny Mordaunt said:

“I am delighted to host Mr Dang Hoang An and his team in London. Vietnam is growing fast and is expected to become one of the world’s major economies by 2050. They are a vital CPTPP member, and an important trading partner for the UK that demonstrates our Indo-Pacific tilt in action.

Our talks today strengthen ties between our nations, including resolving market access barriers into each other’s economies and providing support to Vietnam so that they can reach their net-zero commitments.”

The UK will reinforce its commitment to helping Vietnam meet their net zero goals by sharing expertise in the renewable energy sector and hosting a Forum for UK and Vietnamese businesses. Minister Mordaunt will host a roundtable on renewable energy attended by experts, industry representatives and officials.

The UK and Vietnam share a longstanding trading relationship, with trade increasing between the two countries by almost 11% from 2020, when the UK-Vietnam Free Trade Agreement was signed, and 2021. This agreement eliminates 99% of all tariffs and helps forge a deeper relationship with a country who shares our belief in free trade.

Vietnam is a member of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) which the UK remains on track to join by the end of this year, moving into the final phase of negotiations at the beginning of 2022.

CPTPP is a free trade area made up of 11 countries with a joint GDP of £9 trillion.

Vietnam Smart City Guide

Dear CBI Members and Partners,

This handbook was commissioned by the FCDO as complementary research to the prosperity programming’s Global Future Cities Programme (GFCP). The prosperity programming is a major UK Government initiative announced in 2015. The Fund contributes significantly to the United Nations Sustainable Development Goals (SDGs) and implementation of the New Urban Agenda. It is guided by the UK Aid Strategy with the objective of helping promote growth and prosperity in developing middle-income countries.

The prosperity programming offers great opportunities for the creation of mutually beneficial partnerships, and for the growth of business and trade relationships. In the past, the GFCP has been involved in programming in Ho Chi Minh City to help improve public transportation in the rapidly growing city through developing an integrated ticketing system for public transport. GFCP also played a role in the mitigation of floods in Ho Chi Minh City, by developing a Geographical Information System for the drainage system in the city.

FCDO and GFCP, through their targeted interventions, are creating business opportunities in Vietnam for UK exporters who are worldwide recognised leaders in urban innovation. These interventions in technical support and institutional capacity should be enabling factors to allow the easy market entry of UK service providers in the market.

As the British Ambassador to Vietnam, Gareth Ward mentioned in his foreword:

“I trust you will find this resource valuable in providing innovative ideas for building a stronger and more sustainable policy environment for urban growth. This is more important now than ever before.”

Please download the Guide here.

Our thanks to DIT, UKABC and the team at the British Embassy and Consulate in Hanoi and Ho Chi Minh respectively.

Date for UK Diaries: UK-Vietnam Business Forum - London 09 October

 

Dear CBI Members & Partners,

You may be interested in the UK-Vietnam Business Forum that will be held in London on 09 October. The event is supported by the UK-Asean Business Council (UKABC).To register please click on the link here

 

"To celebrate the 45th anniversary of UK-Vietnam diplomatic relations, the UK-ASEAN Business Council, along with the Vietnamese Embassy in London, are delighted to host the ‘UK-Vietnam Business Forum’.

The Forum will feature a keynote address by Vietnam’s Deputy Prime Minister H.E. Pham Binh Minh and bring together over 150 government officials and business leaders from the UK and Vietnam to discuss Vietnam’s future economic outlook and opportunities for UK businesses.

According to the Asian Development Bank, Vietnam is one of the fastest growing economies in the world with an expected growth rate of 7.1 percent in 2018. Currently, 70  percent of the population is under 35 years of age and by 2050, Vietnam’s population is expected to reach 120 million.

As a member of ASEAN, APEC and the CPTPP, Vietnam is increasingly integrating itself into the global economy through free trade agreements and business-friendly policy reforms. With an increasingly educated workforce and a growing middle class, Vietnam has positioned itself to be a significant part of the global supply chain and a vibrant economic hub to do business with Southeast Asia.

This event will be an excellent opportunity to find out more about this dynamic market in Southeast Asia, network with government officials and business leaders and hear first-hand from British success stories in Vietnam.

After the Forum, delegates are invited to what will be an amazing evening of cultural performances featuring stunning Vietnamese dancers flown in specially for the event, delicious Vietnamese food and VIP speakers."

Programme

2.00pm

Registration

2.30pm

– Opening session

– Welcome by UK-ASEAN Business Council Chairman

– Welcome remarks by H.E. Mr Tran Ngoc An, Ambassador of Vietnam to the UK

– Opening keynote address by H.E. Pham Bình Minh, Deputy Prime Minister of Vietnam and Minister of Foreign Affairs

3.00pm – 4.00pm

– Panel discussion on Vietnam’s economic future

– The outlook for Vietnam’s growth: Where are the investment opportunities? What does the future of the UK-Vietnam trading relationship look like?

4.00pm – 4.30pm

– Networking Break

4.30pm – 5.30pm

– Panel discussion on Vietnam’s business opportunities

– Vietnam 4.0: A connected and innovative nation. What should UK businesses now be planning for to be an integral part of Vietnam’s dynamic future?

5.30pm

– Concluding remarks

6.00pm

– Evening Vietnamese Cultural performance

The evening’s performance will feature stunning Vietnamese dancers flown in specially for the event, delicious Vietnamese food and VIP speakers.

http://www.ukabc.org.uk/event/uk-vietnam-business-forum/

 

British Ambassadors to ASEAN visit Yunnan to promote cross-border collaboration

On 07-08 March, the first ever delegation of British Ambassadors to Southeast Asian countries visited Kunming in Yunnan province to promote cross-border collaboration between the U.K., China, and its Southeast Asian neighbours.

The visit was organised by the British Consulate-General in Chongqing. Invited by Tina Redshaw, British Consul-General in Chongqing, British Ambassadors and senior diplomats from Burma, Cambodia, Laos, Thailand, and Vietnam, with Philip Malone, Deputy Director of the Southeast Asia Department of the Foreign and Commonwealth Office (FCO) in London, visited Kunming, which plays a strategic role in China’s One Belt, One Road initiative.

The delegation’s aim was to understand how Yunnan’s government is positioning the province as a gateway to Southeast Asia and to explore the prospect of deepening U.K.-Yunnan-Southeast Asia economic and trade co-operation.

In Kunming, the delegation held a roundtable with Yunnan government authorities to understand Yunnan’s development and its engagement with Southeast Asia and its history of cross-border collaboration. They also met business representatives in Kunming to understand their investment plans in Southeast Asia, the challenges and opportunities they face, and how the British embassies in the region might play a bigger role in facilitating cross-border collaboration.

The delegation also visited Shilin Experimental Solar Power Plant to learn about the state of renewable energy development in Yunnan and its collaboration with Southeast Asia in this sector.

Together with partners in Southwest China, the Consulate General in Chongqing is keen to deepen relationships as part of the “golden era” of China and U.K. relations following Chinese President Xi Jinping’s state visit last year.

The latest symbol of that is a friendship partnership agreement signed in February between Kunming and Liverpool. The cities will forge closer collaboration in healthcare, life sciences, green energy, and the creative industries.

Tina Redshaw, Consul-General said, “We hope to increase multilateral understanding in the region through the visit and to encourage more regional co-operation.” Please read more here.

Doing Business in Vietnam - A Guide

 

China Direct would like to share with you some key ABCs to doing business in Vietnam and a hot-off-the-press update regarding visas from the Vietnam Business Forum (VBF) held on 01 December in Hanoi.

Our sincere thanks to CBI member Grant Thornton Vietnam and in particular Ken Atkinson, GT's Executive Chairman, for both this report and recent news updates on the status of visas for UK/international businesses operating in Vietnam.

Ken Atkinson: T +84 8 3910 9108 E [email protected]

Many thanks

Download Business Visas - Vietnam Update 01 Dec 15

Download Grant Thornton, Doing Business in Vietnam 2015