More than 200 foreign firms attended a conference to promote investment in Vietnam in London on July 4, which was chaired by Minister of Finance Dinh Tien Dung.

Vietnamese Minister of Finance Dinh Tien Dung (Photo: VNA)

Addressing the event, Minister Dung said that the UK is an important partner of Vietnam, while Vietnam is also a major economic partner of the UK in Southeast Asia.

Vietnam has seen strong economic growth and stable political situation, he said, adding that the country has reformed its economy, equitised State-owned enterprises and developed the securities market. He added that the Vietnamese Government has completed mechanisms and policies to promote the reform of the State-owned sector, thus ensuring an open and transparent market.

William Russell, Alderman for the Ward of Bread Street in the City of London, said that in 2020, he will lead a Fintech delegation to visit Vietnam.

Meanwhile, UK Ambassador to Vietnam Gareth Ward said that in the first seven months of this year, the visits of Vietnamese Minister of Education and Training Phung Xuan Nha and Finance Minister Dung to the UK are good signals for the strong cooperation between the two countries in the future.

Foreign investors at the event showed their interest in many sectors in Vietnam, including the capital market, secondary market, insurance, climate change response, sustainable development and education.

CEO of Prudential Vietnam Clive Baker said that Vietnam is a promising market, noting that the insurance market in Vietnam has expanded 25 percent per year, with abundant development spaces.

President of the Dragon Capital Vietnam Dominic Scriven showed his optimism about Vietnam’s indirect investment market and held that the financial market of Vietnam is very attractive, adding that Vietnam is on good track in developing the capital market.

Vietnam is not a market for short-term investment, but for middle- and long-term investors, he stated.

Speaking to Vietnam News Agency’s correspondent in the UK, Minister Dung said that Vietnam has great financial demand in all fields such as capital market development, securities market, insurance, infrastructure development, and State-owned enterprises restructuring.

The London financial market has maintained high growth with strong capacity of capital mobilisation, which is suitable to Vietnam’s demand, he said.

Chairman of the State Securities Commission Tran Van Dung expressed his hope that after the event, the indirect investment from the UK in Vietnam will rise, prompting the development of the domestic securities market.