Vietnam and UK deepen strategic ties in finance, technology and energy
Vietnam seeks opportunities to expand cooperation with the UK in green finance, carbon markets, fintech and AI-driven financial innovation, leveraging British expertise with Vietnamese young and dynamic workforce to drive new growth.
THE HANOI TIMES — Vietnam and the United Kingdom are expanding cooperation in finance, technology and energy following Party General Secretary To Lam’s official visit to London, marking a new stage in the upgraded Comprehensive Strategic Partnership.
At the Vietnam–UK High-Level Economic Conference held in London on October 30, General Secretary To Lam reaffirmed Vietnam’s commitment to building an open, transparent and stable investment environment for British enterprises.
General Secretary of the Communist Party of Vietnam To Lam meets Vietnamese and British investors in London on October 30. Photo: Nguyen Hong/Baoquocte
Vietnam – a reliable destination for British investors
Speaking at the event, the Party chief said that Vietnam values its partnership with the United Kingdom, a strategic partner that plays an important role in the global cooperation structure. Despite global geopolitical and economic uncertainties, Vietnam has maintained stability and remains one of the fastest-growing and most resilient economies in the region.
Lam said Vietnam is ready to serve as a dynamic and reliable partner where British technology and innovation can thrive, generating shared value for both sides.
Entering a new stage of development, Vietnam aims to become a high-income developed country by 2045, guided by the pillars of independence, innovation and deeper international integration.
To achieve that goal, Vietnam continues to improve its legal framework, address bottlenecks and unlock growth potential. The country is shifting from extensive to intensive investment attraction, prioritizing high-tech, clean and high-value projects that promote global supply chain connectivity.
Lam affirmed that Vietnam is committed to accompanying British investors by ensuring a transparent, stable and favorable business environment, encouraging Vietnamese businesses to expand investment in the UK to foster more balanced and sustainable cooperation.
Focus on finance, technology and energy
Finance, technology and energy become three strategic areas in the UK-Vietnam upgraded relations - Comprehensive Strategic Partnership. Photo: Nguyen Hong/Baoquocte
Delegates and experts from both countries discussed concrete cooperation in three strategic areas, such as finance , technology and energy.
The Party chief highlighted opportunities to develop green finance and carbon markets by learning from London’s advanced financial standards.
He emphasized the potential to promote fintech, digital banking and international financial training while cooperating with UK institutions to advance smart payment technologies, artificial intelligence (AI) in finance and secure data management.
He said that as the UK ranks among Europe’s leaders in artificial intelligence, cybersecurity, fintech and innovation, the combination of British expertise in research and governance with Vietnam’s young and creative workforce can generate new momentum for bilateral collaboration.
In energy, he reaffirmed that green transition and renewable development are essential to sustainable growth and shared responsibility. For that reason, they form a foundation for energy security and Vietnam’s commitment to achieving net-zero emissions by 2050.
Major agreements signed
Many agreements signed at the Vietnam-UK High Level Economic Conference in London on October 30. Photo: VNA
During the visit, General Secretary To Lam witnessed the signing of several cooperation agreements between ministries, localities and enterprises from both countries, covering green finance, international bond issuance, clean energy, product safety and disaster risk reduction.
Among them were Vietjet’s contract to purchase 100 aircraft model A321neo worth US$25 billion and a US$3.8 billion Rolls-Royce engine maintenance agreement. Other deals include cooperation in satellite research, aviation maintenance, International Financial Reporting Standards (IFRS) training, education, healthcare and digital sports transformation.
These agreements represent progress in implementing the pillars of the Comprehensive Strategic Partnership , opening a new phase of practical and extensive cooperation.
At a meeting with UK Deputy Prime Minister David Lammy, both sides agreed to develop a joint action plan to strengthen existing cooperation mechanisms and aim to raise bilateral trade turnover to US$15 billion in the coming years.
Lammy described the elevation of ties to a Comprehensive Strategic Partnership as a historic milestone that creates new opportunities in defense, energy, innovation, aviation and maritime security.
General Secretary To Lam meets former British Prime Minister Tony Blair on October 30. Photo: Nguyen Hong/Baoquocte
On this occasion, the Party Chief also met former British Prime Minister Tony Blair, who praised Vietnam’s economic achievements and digital transformation, calling the country “a bright spot in the world” and a model for emerging economies.
Blair expressed his readiness to cooperate with Vietnam in innovation, governance, digital transformation and high-quality human resource development to help realize Vietnam’s vision for 2045.
The official visit of Party General Secretary To Lam to the United Kingdom marks a significant step forward in bilateral relations, ushering in a new chapter of mutual trust and shared commitment to a peaceful, prosperous and sustainable future.
