UK businesses to expand operation in Vietnam

The event was organized by the Vietnam Chamber of Commerce and Industry (VCCI) in co-ordination with the London Chamber of Commerce and Industry (LCCI).

Hoang Van Dung, Vice Chairman of the VCCI, pointed out that trade ties between Vietnam and the UK have not matched the two countries’ potential.

The forum presents an opportunity for their business communities to find out about markets, seek cooperation opportunities, and boost bilateral investment in the near future, noted Mr. Dung.  

In 2010, Vietnam’s exports to the UK fetched US$71.6 million, up by 125 percent compared to 2009, with main products including garments and textiles, food, rice, steel and oil.

At the same time, Vietnam’s imports from the UK reached US$84 million, mainly machinery, equipment, garments accessories.

Also, at the forum, Peter Bishop, Vice Chairman of the LCCI, said British businesses want to find out about the Vietnamese market and seek partners in the fields of labor, education and training, finance services, water-waste treatment, health care, agriculture, and trade.

The event opens up opportunities for new investment cooperation in the coming years and for the LCCI committees to assist its domestic businesses in developing operations in foreign countries and vice versa, he added.