Agreements mark new chapter in Vietnam–UK economic cooperation
Agreements mark new chapter in Vietnam–UK economic cooperation
Vietnam and the United Kingdom took a major step forward in deepening bilateral economic ties with the signing of several key cooperation agreements in finance, customs, and green development.
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On October 30 in London, during the Vietnam–UK High-Level Economic Conference attended by Party General Secretary To Lam, Minister of Finance Nguyen Van Thang presented a series of cooperation documents between the Ministry of Finance (MoF) and UK counterparts.
These included an intergovernmental agreement on customs collaboration, as well as MoUs with the UK’s Foreign, Commonwealth and Development Office on green finance, UK Export Finance (UKEF), J.P. Morgan, and The CityUK to support Vietnam’s financial market access and the development of an international financial centre.
These agreements mark an important step in deepening the friendship and cooperation between Vietnam and the UK, paving the way for broader economic and financial collaboration.
In particular, the Agreement on Cooperation and Mutual Administrative Assistance in Customs establishes a comprehensive legal framework for coordination and information sharing between the two sides. It will support the effective enforcement of customs laws, facilitate trade flows, and promote smoother, lawful export–import and border procedures.
As a co-chair of the International Partners Group alongside the European Union under the Just Energy Transition Partnership in Vietnam, the UK has been actively supporting and financing Vietnam’s projects to reduce emissions and respond to climate change.
The MoU on Green Finance Cooperation aims to formalise and deepen collaboration in boosting sustainable finance, greening the capital market, and mobilising public-private and international resources for green growth. This takes on even greater meaning as the two countries have elevated their bilateral relations to a Comprehensive Strategic Partnership.
This milestone demonstrates both sides’ commitment to advancing cooperation on sustainable growth, clean energy, green infrastructure, and climate resilience.
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To leverage London’s position as one of the world’s leading international financial centres with strengths in capital markets, international banking, insurance, green finance, and fintech, the MoU between Vietnam’s MoF and TheCityUK establishes and reinforces official cooperation frameworks for sharing experience in building, managing, and operating an international financial centre in Vietnam.
The MoU also paves the way for joint training and capacity-building initiatives for financial centre management officials, helping Vietnam prepare a skilled workforce for its future international financial centre.
The MoU between the MoF and J.P. Morgan opens new prospects for collaboration with one of the world’s leading financial institutions and reflects Vietnam’s determination to expand international cooperation, enhance fiscal and financial management capacity, strengthen sustainable capital mobilisation, and solidify its position on the global financial map.
Meanwhile, the MoU on Financial Cooperation between the MoF and UK Export Finance (UKEF) aims to strengthen collaboration in financing projects in Vietnam that utilise UK exports, further deepening bilateral economic and financial ties.
These agreements reflect the strong, results-oriented cooperation between the UK and the MoF. They reaffirm both sides’ shared vision of expanding economic and financial collaboration, deepening institutional ties, and creating long-term partnerships with leading UK financial organisations – a fitting milestone as the two countries elevate their relationship to a Comprehensive Strategic Partnership.
- 21:28 01/11/2025
