There is untapped potential for Vietnamese enterprises to export to the United Kingdom, Vietnamese Ambassador Nguyen Van Thao told a business conference held on November 16 in Hanoi.
Hanoi (VNA) - Theꦿre is untapped potential for Vietnamese enterprises to export to the United Kingdom, Vietnamese Ambassador Nguyen Van Thao told a busines🦄s conference held on November 16 in Hanoi.
The UK, one of the biggest markets in the European Union and the world, imports more than 1 trillion USD worth of goods each year. However, Vietnam's exports to the market were expected to hit about 5 billion USD or accounting for a modest 0.5 percent of the UK's import turnover, Thao said.
In order to effectively utilise trade and investment opportunities available in the market, domestic enterprises need to foster their understanding about preferential tariffs to be offered by the Vietnam - EU Free Trade Agreement and meet the standards of the British market.
Chairman of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said bilateral relations still lagged behind the demands of the two nations. Loc emphasised the importance of providing British firms with updated information about Vietnam's market and establishing channels to solve difficulties that British companies encounter to doing business in Vietnam and vice verse.
On his speech, the Duke of York, Prince Andrew said that Vietnam needed to continue to remove barriers for business while assisting start-ups.
According to VCCI, Vietnam's exports to the UK have experienced a yearly growth of 17 percent over past years with major items including footwear, textile and garment, tea, coffee, rice and seafood.-VNA
Vietnamese and British entrepreneurs signed a number of memoranda of understanding, agreements and contracts at a business forum held in London on Oct. 19.
A forum themed, “Meeting of Vietnam-UK Businesses” to promote trade and investment cooperation between the two countries took place in Hanoi on Nov. 18.
Fiona Woolf, Lord Mayor of the City of London, and the UK’s leading businesses will have a working visit from October 5-7 to Vietnam, an important market for British investors.
According to the Lord Mayor, this is a crucial moment for the UK’s economic relationship with Vietnam, that there are many opportunities for both to stimulate growth by working more closely together.
Vietnam and the UK focused on issues surrounding international economic integration, national defence-security and recent global developments during their fourth strategic dialogue in Hanoi on February 27.
Vietnam and the UK posted 1.32 billion GBP worth of trade revenue within the first five months of 2015, climbing seven percent from 2014 according to the Vietnam Commercial Office at the Vietnamese Embassy in the UK.
The Vietnamese Government will create optimal conditions for British businesses to strengthen cooperation activities and make sustainable investments in the country.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
At the business conference (Photo: VNA)
