PM promises favourable treatment to UK businesses
London (VNA) – Prime Minister Nguyen Tan Dung has said Viet Nam will create favourable conditions for businesses from the UK to expand and operate efficiently in the country.
The PM made the statement while meeting with the Lord Mayor of the City of London , Alderman David Lewis, in London on March 4, as part of his official visit to the United Kingdom and North Ireland.
PM Dung informed Lord Mayor Lewis of the Vietnamese government’s decision to grant licenses for two British banks, HSBC and Standard Chartered, to set up their wholly foreign-owned banks in Viet Nam.
The Vietnamese government is making efforts in developing a safe and sound financial and banking system, meeting the requirements for a rapid and sustainable development of the economy, the PM said.
After the meeting, PM Dung and the Lord Mayor witnessed the signing of agreements worth 1 billion USD in total between the Vietnam Oil and Gas Group (PetroVietnam) and the UK’s businesses, Salamander and SOCO; between the Viet Nam Industrial and Commercial Bank (Incombank) and Standard Chartered, between the Bao Viet Insurance Group and HSBC Insurance and between Lilama and Mott MacDonald.
Earlier the same day, during a meeting with the UK’s leading financial experts, PM Dung said foreign banks meeting all requirements of the Vietnamese law will be permitted to open wholly foreign-owned banks in the country.
He also said Viet Nam will do its best to push economic, trade, investment, cultural, educational and scientific cooperation with the UK to a new height.
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