UK offers support for infrastructure

Wednesday, Oct 08, 2014 08:29

Viet Nam has been listed as one of 20 high-growth markets by UK Trade & Investment. — Photo tuyengiao

HCM CITY (Biz Hub) — The UK wants to support Vietnamese businesses in accessing sources of capital to invest in infrastructure development projects, Fiona Woolf, the lord mayor of London, said at a press conference held on Monday in HCM City.

Woolf, who was on a three-day visit (Oct 5-7) to Viet Nam, was accompanied by a delegation of leading British businesses, who met with politicians, policymakers and business professionals in Viet Nam to exchange opinions on how to improve sustainable growth in both countries.

Key areas of discussion included opportunities for collaboration arising from foreign direct investment on infrastructure projects, professional and vocational skills training, intellectual capital, Public-Private Partnership projects, and the proposed EU-Viet Nam free trade agreement.

Woolf said: "The UK offers access to a uniquely international pool of capital, talent and expertise, and UK firms possess a whole life-cycle approach to project management. Closer partnership with the City of London can help Vietnamese companies unlock the long-term financing it needs to fund investment in key areas like infrastructure and Public Private Partnership projects."

She said the UK supported Viet Nam's financial reforms and the free trade agreement currently under negotiations.

"The UK and Viet Nam already have a strong economic relationship, but there's huge potential to take it into a new stage. I hope this visit will show why the UK should be seen as the partner of choice on trade and investment," she added.

Prior to her visit to Viet Nam, Woolf described the country as "a high-growth market with significant business opportunities across a range of sectors," adding that UK firms were keen to deepen their ties with the Vietnamese business community.

Viet Nam has been listed as one of 20 high-growth markets by UK Trade & Investment, given its particularly strong potential for British businesses to work with local companies. — VNS

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