Prince Andrew: British Firms to Maintain Long-term Presence in Vietnam

British businesses will boost their long-term footholds in Vietnam, part of efforts to expand the bilateral trade and investment ties, Prince Andrew Albert Christian Edward told Premier Nguyen Tan Dung in Ho Chi Minh City Sept 9, Vietnamese state media said on September 10.

 

Prince Andrew hailed Vietnam among countries which use ODA the most effectively and record achievements in socioeconomic development, the state-controlled Youth newspaper said.

 

PM Dung for his part welcomed the U.K. Prince’s visit and said his U.K. counterpart Gordon Brown and he agreed in a joint statement released on the occasion of his visit to the Great Britain in Mar this year that the two countries will expand the bilateral comprehensive and long-term partnership relations with the focus on trade, investment and education.

 

Mr Dung highly valued the rising trade with the U.K, which reached US$2 billion last year. The U.K. ranked the third among European trade partners, behind Germany and France, the government of Vietnam said on its Web site.

 

Vietnam wants to expand bilateral cooperation with the U.K. in finance, banking, insurance and oil and gas fields.

 

On this occasion, Vietnam also gave official approval to establishments of two 100 per cent U.K.-invested banks of HSBC and Standard Chartered and the British University Vietnam. (Government’s Website, Youth)