Fiona Woolf, Lord Mayor of the City of London, and the UK’s leadingbusinesses will have a working visit from October 5-7 to Vietnam, animportant market for British investors.
Woolf expressed her delight to have opportunity to visit the Southeast Asian nation during her mayoral year.
“AsLord Mayor, my role is to act as an ambassador for the UK’s financialand professional services community and to promote stronger tradebetween our two countries,” Woolf said.
Accordingto the Lord Mayor, this is a crucial moment for the UK’s economicrelationship with Vietnam, that there are many opportunities for both tostimulate growth by working more closely together.
Vietnameseimport demand is expected to grow by around 250 percent this decade –faster than any other emerging power, and which is one of the reasonswhy it has been listed as one of UK Trade and Investment’s 20high-growth markets, which have been prioritised given theirparticularly strong potential for UK businesses to work with localcompanies.
Meanwhile, the UK is home to many of the leadingexperts in key areas for growth in Vietnam, especially in the financialand professional services sector.
Financial and professionalservices are important to the development of the wider economy, andalthough many UK firms already operate in Vietnam, creating strongerpartnerships between the two countries will allow more British firms tobegin delivering these crucial services to Vietnamese customers and withVietnamese partners.
However, she said, the development offinancial services access across the population is not the only way inwhich the UK can contribute to Vietnam’s booming economy.
UKfirms possess both experience and capability of planning, structuring,financing and managing major infrastructure projects, expertise thatwould be beneficial to major infrastructure projects in Vietnam.
TheUK has long been the partner of choice for PPP projects, she said,adding with so many opportunities emerging particularly in Ho Chi MinhCity with urban regeneration this is the perfect opportunity to deepenthe engagement and work more closely together to ensure that theseprojects are completed on schedule and are well financed.
The region’s thriving oil and gas sector is another area in whichcooperation between UK and Vietnamese companies can bring economicbenefit for both nations, she affirmed.
“Vietnam is South-eastAsia’s third largest oil producer and UK companies have thetechnological expertise needed to help the industry move forwards into anew era of sustainable oil production and renewable energydevelopment,” she said.
Crucial to this partnershipis an investment in skills, Woolf stressed, saying “I know how importantinvesting in education is to Vietnamese businesses as they look todevelop in the future.”
According to the Lord Mayor, there ishuge potential for partnerships, as the UK has a strong tradition infinancial and professional education, training and qualifications (ETQ),covering a broad range of financial and professional servicesdisciplines. UK-based professional bodies can assist to develop enhancedcapabilities across the financial and professional services sector.
Duringher upcoming Vietnam visit, Woolf will present a Mansion Housescholarship to offer a Vietnamese student the chance to study in Londonand build on the strong cultural ties that have already developedbetween the two nations.
As only the second femaleLord Mayor in 800 years, Woolf has spent a good part of her mayoral yearsupporting equality and diversity.
“To get the best ideas,the most dynamic organisations and the greatest application ofintellectual capital, we must have diversity in every possible way,” shesaid, adding “we must ensure that we do not discriminate against genderor background if we are all to meet our full economic potential.”
She expressed her hope that her visit would bring many opportunitiesfor Vietnamese businesses to deepen their ties with the UK businesscommunity and that the two countries will be able to cement the nextgeneration of their ties.-VNA
Woolf expressed her delight to have opportunity to visit the Southeast Asian nation during her mayoral year.
“AsLord Mayor, my role is to act as an ambassador for the UK’s financialand professional services community and to promote stronger tradebetween our two countries,” Woolf said.
Accordingto the Lord Mayor, this is a crucial moment for the UK’s economicrelationship with Vietnam, that there are many opportunities for both tostimulate growth by working more closely together.
Vietnameseimport demand is expected to grow by around 250 percent this decade –faster than any other emerging power, and which is one of the reasonswhy it has been listed as one of UK Trade and Investment’s 20high-growth markets, which have been prioritised given theirparticularly strong potential for UK businesses to work with localcompanies.
Meanwhile, the UK is home to many of the leadingexperts in key areas for growth in Vietnam, especially in the financialand professional services sector.
Financial and professionalservices are important to the development of the wider economy, andalthough many UK firms already operate in Vietnam, creating strongerpartnerships between the two countries will allow more British firms tobegin delivering these crucial services to Vietnamese customers and withVietnamese partners.
However, she said, the development offinancial services access across the population is not the only way inwhich the UK can contribute to Vietnam’s booming economy.
UKfirms possess both experience and capability of planning, structuring,financing and managing major infrastructure projects, expertise thatwould be beneficial to major infrastructure projects in Vietnam.
TheUK has long been the partner of choice for PPP projects, she said,adding with so many opportunities emerging particularly in Ho Chi MinhCity with urban regeneration this is the perfect opportunity to deepenthe engagement and work more closely together to ensure that theseprojects are completed on schedule and are well financed.
The region’s thriving oil and gas sector is another area in whichcooperation between UK and Vietnamese companies can bring economicbenefit for both nations, she affirmed.
“Vietnam is South-eastAsia’s third largest oil producer and UK companies have thetechnological expertise needed to help the industry move forwards into anew era of sustainable oil production and renewable energydevelopment,” she said.
Crucial to this partnershipis an investment in skills, Woolf stressed, saying “I know how importantinvesting in education is to Vietnamese businesses as they look todevelop in the future.”
According to the Lord Mayor, there ishuge potential for partnerships, as the UK has a strong tradition infinancial and professional education, training and qualifications (ETQ),covering a broad range of financial and professional servicesdisciplines. UK-based professional bodies can assist to develop enhancedcapabilities across the financial and professional services sector.
Duringher upcoming Vietnam visit, Woolf will present a Mansion Housescholarship to offer a Vietnamese student the chance to study in Londonand build on the strong cultural ties that have already developedbetween the two nations.
As only the second femaleLord Mayor in 800 years, Woolf has spent a good part of her mayoral yearsupporting equality and diversity.
“To get the best ideas,the most dynamic organisations and the greatest application ofintellectual capital, we must have diversity in every possible way,” shesaid, adding “we must ensure that we do not discriminate against genderor background if we are all to meet our full economic potential.”
She expressed her hope that her visit would bring many opportunitiesfor Vietnamese businesses to deepen their ties with the UK businesscommunity and that the two countries will be able to cement the nextgeneration of their ties.-VNA
