(MPI) - Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc and Permanent Under-Secretary of the UK’s Foreign, Commonwealth & Development Office Phillip Barton shared the view on the need for the two countries to promote investment and trade cooperation, during a meeting in Hanoi on March 25.

At the working session. Photo: MPI

Deputy Minister Ngoc emphasised that Vietnam and the UK share a traditionally good friendship; the strategic partnership relationship covers in all spheres, among which economic, trade and investment cooperation are the important pillars. Especially, the UK has officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in July 2023, and along with the UK-Vietnam Free Trade Agreement (UKVFTA), the trade, investment and economic partnership between the two countries has continuously strengthened.

The deputy minister said there are ample room for development, suggesting the UK pay more attention to and further foster British investment in Vietnam through mechanisms, channels, and sharing experiences on specific fields, as well as proving support in implementing fair energy transition projects and building an international financial centre (IFC).

Vietnam has issued a National Strategy on Green Growth; participated in implementing  Just Energy Transition Partnership (JETP), thus Vietnam hopes that the British Embassy in Vietnam will continue its assistance in terms of investment resources for this sector.

For his part, Barton spoke highly of the MPI’s role as an important agency in strategic planning and socio-economic development, making significant contributions to promoting the two countries’ partnership.

The two countries have various important factors to enhance cooperation such as ODA projects, the UKVFTA and CTPPP agreements. These create a solid foundation for the two countries to enhance cooperation in all fields, among which finance and economy are important pillars, he noted.

Cooperation in energy sector also achieved certain cooperation results, Barton said, adding that the UK will maintain its support in  climate change response and renewable energy development

The British diplomat agreed with Deputy Minister Ngoc’s proposal and said that building financial centre and renewable energy are areas that the UK has experiences. He promised to coordinate closely with the MPI and relevant agencies to implement specific programmes and projects./.

Bao Linh

Ministry of Planning and Investment