Speakers participate in a panel discussion on the future of renewable energy in Vietnam. (Photo: VNA)
The UK-Vietnam Business Summit 2025 took place in Ho Chi Minh City on November 5, with the participation of over 200 delegates, including senior officials, policymakers and representatives of leading enterprises from both countries.
The event, organised by the British Chamber of Commerce in Vietnam (BritCham Vietnam), marked an important milestone following the recent upgrade of bilateral relations to a Comprehensive Strategic Partnership during Party General Secretary To Lam’s visit to the UK last week. The upgrade of the relationship is expected to create a broader framework for cooperation across economic, trade, investment, energy, and sustainable development sectors, ushering bilateral relations into a new phase of growth.
Speaking at the summit, Denzel Eades, Chairman of BritCham Vietnam, noted that bilateral trade has reached USD 9 billion since the beginning of this year, while the UK’s direct investment in Vietnam has exceeded USD 4.5 billion. These figures reflect positive growth momentum and the potential for expanding bilateral cooperation in the new period.
According to Eades, the economic relationship continues to be strengthened by the UK-Vietnam Free Trade Agreement (UKVFTA) and the UK’s formal accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Denzel Eades, Chairman of BritCham Vietnam (Photo: VNA)
Highlighting the two main themes of this year’s summit - renewable energy and the development of an international financial centre - British Ambassador to Vietnam Iain Frew noted that these topics are not only timely but also reflect the shared strategic vision of the two governments.
In the field of renewable energy, the UK is one of the global leaders in the fields of offshore wind, green finance, and energy transition. Vietnam, committed to achieving net-zero emissions by 2050, is working closely with the UK under the Just Energy Transition Partnership (JETP), where the UK serves as co-chair. Through JETP, both sides are implementing a series of clean energy projects, unlocking billions of dollars in private capital for technology transfer, electricity transmission, and development of green infrastructure.
In terms of financial services, the UK is assisting Vietnam in establishing its International Financial Centre in Ho Chi Minh City and Danang, focusing on improving the legal framework, dispute resolution mechanisms, ESG standards, and training a high-quality financial workforce.
These cooperative efforts are reinforced through a series of high-level dialogues, such as the UK-Vietnam High-Level IFC Conference chaired by the Mayor of London, lectures by Lord Justice Snowden, and an upcoming banking conference in Hanoi.
Nguyen Viet San, Deputy Director of the Ministry of Industry and Trade’s Foreign Market Development Department, said Vietnam remains steadfast in pursuing a growth model based on innovation, digital transformation, and sustainable development. This aligns with the UK’s strengths as a global hub for technology, finance, and education. The two sides are expected to strengthen cooperation in semiconductors, smart manufacturing, circular economy, and sustainable supply chain standardisation.
The Vietnamese government places great importance on the significant role of the private sector. By 2045, this sector is expected to contribute 65-70 per cent of GDP, requiring extensive participation of businesses in technology innovation, digital transformation, and green production, San said.
He also noted that Vietnam will continue to improve its institutional framework and create a more transparent and equitable investment environment for foreign investors.