Vietnam, UK share experience in finance

09:25 | 09/07/2019 Finance - Banking

Britain’s Chancellor of the Exchequer Philip Hammond held a working session in London on July 3 with Vietnamese Finance Minister Dinh Tien Dung, who led a delegation from the Finance Ministry and the State Securities Commission of Vietnam (SSC) on a working visit to the UK from July 2 to 7.

Britain's Chancellor of the Exchequer Philip Hammond (L) welcomes Vietnamese Finance Minister Dinh Tien Dung - Photo: mof.gov.vn

At the function, the two sides expressed their delight at the continuous development in bilateral ties over recent years.

Minister Dung updated the host on Vietnam’s socio-economic situation as well as the measures taken by the Vietnamese Government to boost sustainable economic growth, reduce public debt, maintain inflation at low level, restructure the economy, lure investment in infrastructure, and step up equitisation of State-owned enterprises.

For his part, Chancellor Hammond showed his interest in the equitisation of State-owned enterprises in Vietnam, stating that Britain is willing to provide technical support for Vietnam to improve the efficiency of its economy.

He expressed his hope that Vietnam would continue to open its door for British financial and insurance businesses, adding that Britain wants to strengthen cooperation and sharing information in the fight against money laundering.

The same day, the Vietnamese delegation also visited and had a working session with CEO & Director-International Development at London Stock Exchange Plc Nikhil Rathi.

SSC Chairman Tran Van Dung said that although the UK’s indirect investment in Vietnam is nearing US$1 billion, it still remains modest compared to UK investors’ potential and the Vietnamese market’s absorption capacity.

Therefore, the promotion of investment in London is of significance to increasing the UK’s indirect investment in Vietnam, he stressed.

Theo NDO