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Nov 01, 2021 / 08:41

Vietnam-UK sign 26 cooperation agreements worth billions of US dollars

The signing of a series of agreements in various fields shows the strong growing Vietnam-UK relations.

Vietnam and the UK on October 31 signed 26 cooperation agreements worth billions of US dollars in fields of trade, agriculture, energy, healthcare, education, training, environmental protection, and sports.

 The signing ceremony of the launch of Vietnam-UK direct flight. Source: VGP

The signing ceremonies took place under the witness of Prime Minister Pham Minh Chinh during his visit to the UK to participate in the 2021 UN Climate Change Conference (COP26) in Glasgow.

Among those were an intention letter to take part in the initiative of Alliance for reduced carbon emission via enhanced financing support in forestry development; agreement for an action plan to strengthen cooperation at the university level; memorandum of understanding (MoU) in cooperation in education; cooperation to train human resources for Vietnam’s Ministry of Planning and Investment and local startups; cooperation for technology transfer in land management and training related human resource.

During the event, Vietnam’s budget carrier Vietjet Air and Rolls-Royce signed an agreement for the provision of engines and maintenance services contracts for wide-body aircraft fleet worth US$400 million; SOVICO Corporation and Oxford University signed an MoU on cooperation in R&D and education for $212 million; Vietjet signed insurance certificate for their entire fleet with two top insurance consultation companies of Gallagher Limited and Willis Towers Watson Limited; investment fund Affinity and HDBank signed a financing agreement of $300 million for sustainable development program against climate change; EMG Education signed a comprehensive cooperation agreement with Pearson Corporation; Vingroup and Rapahel Labs signed an agreement on the transfer of treatment drug against Covid-19 and other respiratory diseases.

Announcing Vietnam-UK direct flight

On the same day, Chinh attended the announcement of the Vietnam-UK direct flight route operated by Bamboo Airways and the launch of its representative agency in the UK.

Bamboo Airways is scheduled to operate commercial flights from Noi Bai and Tan Son Nhat to Heathrow by late 2021 following the approval from the two governments, with a total flight frequency of six two-way flights per week, and eventually daily since 2022.

Such a direct flight would narrow travel time to around 12-13 hours from the previous 20 hours of indirect flights.

With over 100,000 Vietnamese currently residing in the UK, not only does a direct flight route benefit passengers between the two countries, but it would also enhance Vietnam’s status as an air hub of Indochina.

Meanwhile, the direct flight would expand the flight network between Vietnam and one of the world’s major economic zones, including the UK, Germany, France, Belgium, and the Netherlands.