Hanoi looking to strengthen UK link

Hanoi and British Business Group Vietnam (BBGV) met today to discuss measures to strengthen economic partnership in the future.

"Hanoi meets BBGV" seminar

The event attracted the participation of Vietnamese and Bristish firms operating in banking and finance, insurance, transport, logistics, consultancy services, marketing, education and training, healthcare, and tourism and hospitality.

The firms included Harvey Nash, Coninco, Santa Fe, Crown, Concordia International School Hanoi, Crunchy Fog, Ecorem Aiei, Mazars, and Rolls Royce International Limited Vietnam.   

The discussions focused on the concerns of Bristish businesses in Vietnam, including administrative procedures, business licensing, land use, construction and investment issues, labour, tax, and customs.

Hanoi's leaders seeking to answer businesses' concerns

Addressing the event, Nguyen Doan Toan, Deputy Chairman of the Hanoi People's Committee, said, "The UK is one of Hanoi's biggest foreign investors. The event provided a good opportunity for Vietnamese and British businesses to seek business and investment partnership opportunities."

"Hanoi will continue taking strong action to improve the business environment and make it more favourable and transparent. In particular, the city will make administrative reforms at all levels to create a driving force to attract investment for future development," he noted.

Regarding trade, Toan said that in 2016, Hanoi’s export turnover towards the UK hit $524 million, making up 4.9 per cent of the city's total. The city’s import value from the UK hit $142 million, accounting for 0.6 per cent of the total. Import items included materials for animal feed production, farm produce, and pharmaceuticals.

The number of British tourists arriving to Hanoi has also increased in recent years. In the first nine months of this year, the city welcomed 45,347 tourist arrivals from the UK, up 170 per cent on-year.

To date, Hanoi is home to 66 valid British-invested projects with a total investment capital of $416.7 million, ranking 13th among foreign investors in Hanoi.

The projects include 17 in education and training worth $51.56 million in total, 15 others in science and technology worth $4.5 million in total and 10 others in manufacturing and processing worth $26.87 million in total.

Some big British projects include the $302-million green technology city project, British University Vietnam's $35.48-million education project and CHEE WAH Vietnam's $15-million manufacturing project.

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By Bich Thuy