Vietnam creates healthy, transparent and conducive environment for foreign firms, including those from the UK, to operate efficiently in the country, National Assembly Vuong Dinh Hue assured executives of major British groups in London on June 29.
NA Chairman Vuong Dinh Hue (R) receives Prudential plc chairwoman Shriti Vadera in London on June 29.
At a reception for Shriti Vadera, chairwoman of Prudential plc, Hue noted that many key funds and insurance corporations are important clients of the Government in the field of government bonds.
To promote insurance business in Vietnam, he said the National Assembly recently passed the amended Law on Insurance Business that is expected to strongly develop life and non-life insurance services in Vietnam. He hoped the Prudential would have the chance to expand its operations in the country.
For her part, Shriti Vadera said Vietnam is a key market of the Prudential and that the group can support the country’s development process through the issuance of long-term bonds.
The Prudential will cooperate with the Government of Vietnam on three important initiatives of green investment; insurance technology and development orientation of Ho Chi Minh City to become an international financial center, she said.
The CEO affirmed that the Prudential in Vietnam would continue developing its services along with fulfilling corporate social responsibility.
Receiving Standard Chartered Chairman Jose Vinals, National Assembly Chairman Vuong Dinh Hue thanked the firm for helping Vietnam in improving its credit rating, emphasizing that cooperation in banking and finance plays an important role in the economic, trade and investment relations between Vietnam and the UK.
He hoped Standard Chartered would continue to cooperate and support Vietnam in developing corporate credit rating services, forming the corporate bond market, mobilizing capital for green growth, implementing Vietnam's climate change commitment, and sharing experience in building Ho Chi Minh City into a financial center.
NA Chairman Vuong Dinh Hue (R) and Standard Chatered Chairman Jose Vinals pose for a photo before their meeting in London on June 29. .
Jose Vinals assured that Standard Chartered would make long-term investment in Vietnam, support the country in attracting foreign investment in a sustainable way, and in forming a carbon trading market in the country.
Standard Charter has committed to allocating US$17 billion in green finance and sustainable credit globally, including approximately US$8.5 billion for Vietnam under a memorandum of understanding signed at COP26.
National Assembly Chairman Vuong Dinh Hue also received Pacific Land President Patrick McKillen, who said the group is very interested in infrastructure investment in Vietnam. He said Pacific Land is developing a world-class Biotech Park project in Hanoi (HaBiotech), and expected Vietnam would support the implementation of this project.
Hue welcomed Pacific Land’s idea and said he would discuss McKillan’s concerns with the Hanoi administration in order to accelerate the project.
Meeting with Pearson Group Chairman Chris Cuddihy, Hue welcomed the group’s signing of a cooperation agreement with Vietnamese partner EMG Education, noting that education and training is one of the fields of effective cooperation between Vietnam and the UK.
He hoped that with a long history of working in the education field, Pearson would effectively cooperate with Vietnamese partners to bring practical benefits to learners.
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