Ms. Alexandra Smith at the Ba Ria - Vung Tau 2025 Investment Conference, morning of May 30 - Photo: D.H
At the Ba Ria - Vung Tau Investment Conference 2025, Tuoi Tre Online interviewed British Consul General in Ho Chi Minh City, Ms. Alexandra Smith.
Ms Smith affirmed: The UK is focusing on foreign investment to promote innovation, create jobs and strengthen global economic ties. The Indo-Pacific is a high-growth region and Vietnam stands out as a reliable and ambitious partner.
With the UK-Vietnam Free Trade Agreement and CPTPP membership, we see many opportunities to expand this relationship.
By the end of Q4 2024, bilateral trade between the UK and Vietnam reached £8.1 billion, reflecting steady growth despite global uncertainties.
* How do you evaluate Vietnam's potential to attract foreign direct investment (FDI)?
Ms. Alexandra Smith: Vietnam has consolidated its position as a leading FDI destination in Southeast Asia. In 2024, Vietnam attracted more than 38.2 billion USD. This demonstrates its solid economic foundation and investor-friendly policies, making it one of the most attractive FDI environments in the region.
These include the Vietnamese government 's strong reforms, skilled workforce and trade agreements being implemented in practice.
These are the main advantages. Even in difficult global times, the Vietnamese economy remains resilient and open for business.
British Consul General in Ho Chi Minh City Alexandra Smith (red shirt) talks with Ms. Nguyen Thi Yen (black shirt) - Standing Deputy Secretary of Ba Ria - Vung Tau province on the morning of May 30 - Photo: DONG HA
Investing in education, vocational training, green growth
* What are the UK's priority investment sectors in Vietnam? Will it focus more on manufacturing or services?
Alexandra Smith: We are active in both sectors. UK businesses are investing in renewable energy, advanced manufacturing, financial services, education and healthcare. In Ba Ria - Vung Tau, we are particularly interested in clean energy, ports, freight services and education.
In 2024, UK exports to Vietnam will reach £1.3 billion, of which goods will account for £871 million and services for £446 million.
* So, in your opinion, what should Vietnam do to attract more FDI, especially from the UK?
Ms. Alexandra Smith : The UK seeks transparency, regulatory clarity and skilled labour. Making investment procedures transparent with specific regulations and promoting environmental, social and governance (ESG) standards will help Vietnam attract FDI from the UK.
Additionally, creating clear investment roadmaps and offering targeted incentives will further strengthen investor confidence.
We have made commitments to support Vietnam in building financial centers in Ho Chi Minh City and Da Nang.
TheCityUK and our long-standing financial institutions such as Standard Chartered, Dragon Capital, KPMG and HSBC have been actively advising the Vietnamese Government on regulations and plans to realise the ambition of building financial centres in the two localities.
Production of wind power bases for export in Vung Tau - Photo: DONG HA
In addition, investment in education and vocational training to have a highly skilled workforce will be very important. Life and culture in Vietnam are also attractive points for high-quality foreign workers to live and work here.
* Do you have any recommendations for the government and Ba Ria - Vung Tau province?
Ms. Alexandra Smith: Ba Ria - Vung Tau has its own strengths. These include deep-water ports, renewable energy and proximity to major markets.
I recommend that the provincial government continue to build investor confidence through transparency, clarity, speedy administrative procedures and a strong focus on green growth and freight transport.
Thank you!
Source: https://tuoitre.vn/tong-lanh-su-anh-viet-nam-da-cung-co-vi-the-la-diem-den-fdi-hang-dau-dong-nam-a-2025053017135243.htm
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