British businesses join hands with Vietnam to build IFC and Net Zero

(Dan Tri) - The UK - Vietnam Business Summit 2025 emphasizes the commitment of the UK Government and the business community in sharing experiences, supporting IFC HCMC and green transition.

On the morning of October 7, the British Chamber of Commerce in Vietnam (BritCham Vietnam) held a press conference to introduce the first UK-Vietnam Business Summit 2025, which will take place on November 5 in Ho Chi Minh City. The event is hosted by the British Chamber of Commerce in Vietnam (BritCham Vietnam).

He wants to share his experience in building IFC.

With the main theme revolving around the International Finance Center (IFC) in Ho Chi Minh City and Renewable Energy, the event affirmed the desire of the British Government and the business community to accompany, support and share experiences with Vietnam on its development journey.

In her opening speech, Ms. Alexandra Smith, British Consul General in Ho Chi Minh City, said that British investment capital in Vietnam increased by 36% last year, making the UK one of the fastest growing European investors in the Vietnamese market.

UK exports to Vietnam have also increased by more than 40% since the bilateral Free Trade Agreement (UKVFTA) came into effect, particularly in the pharmaceuticals, machinery and professional services sectors. In return, Vietnam has also significantly increased its exports to the UK in the electronics, textiles and sustainable agriculture sectors.

“Our bilateral trade has more than tripled in the past decade, now exceeding £9 billion a year. Looking ahead, the potential for further growth is huge as more businesses take advantage of the favourable trading conditions under the UKVFTA and CPTPP,” Ms Smith stressed.

BritCham speakers attend a press conference on October 7 introducing the UK-Vietnam Business Summit 2025 (Photo: Tran Manh)

One of the two main pillars of discussion at the conference is the strategy to build Ho Chi Minh City into a regional international financial center. This is a goal that has been affirmed by the Vietnamese Government and is receiving attention and support from the UK - a country with long-standing experience with London, one of the world's leading financial centers.

For decades, the UK has established its global presence thanks to London – one of the world’s leading international financial centres. This valuable experience will be shared by the UK Government and financial institutions with Vietnam in the process of building the IFC in Ho Chi Minh City.

High-level dialogues in September, such as the UK-Vietnam IFC Conference in Hanoi and thematic roundtable in Ho Chi Minh City, showed the efforts of both sides in establishing a legal foundation, governance standards and dispute resolution mechanism in accordance with international practices. This is considered a key factor for IFC Ho Chi Minh City to operate successfully and be able to compete with financial centers in the region.

“The UK Government is proud to be a trusted partner of Vietnam, especially in the country’s new era of growth. We are committed to strengthening our strategic partnership and promoting cooperation in the areas of sustainable development, digitalisation, green growth and finance – important foundations for Vietnam to realise its goal of becoming a high-income developed country by 2045,” Ms. Alexandra Smith emphasized.

Renewable energy - a strategic intersection

Mr. Tim Evans, CEO of HSBC Vietnam, emphasized that the Vietnamese Government's determination to build IFC, as well as the opportunity for the Vietnamese stock market to upgrade, has attracted the attention of many international investors. For IFC to become a reality, Vietnam needs to go hand in hand with institutional reform and the development of high-quality human resources, while connecting with the global capital system.

Not only the Government, the British business community in Vietnam also expressed its commitment to long-term cooperation. Mr. Matt Ryland, Executive Director of BritCham Vietnam, said: “BritCham hopes this event will become an annual forum where British businesses can share experiences and affirm their commitment to supporting Vietnam in achieving its sustainable growth goals. This is the foundation for building effective partnerships and investments between the two countries.”

Speaking at the event, Mr. Nirukt Sapru, Chairman of Jardine Matheson in Vietnam, affirmed: “For more than 30 years, we have developed extensively in Vietnam. Sustainable partnerships are not just about business, but also about bringing benefits to society. This conference, on the occasion of the 15th anniversary of the UK-Vietnam strategic partnership, is the foundation to plan the next phase of cooperation.”

Along with IFC, renewable energy is the second strategic pillar selected by this year’s conference. Vietnam made a strong commitment at COP26 to achieve net zero emissions by 2050. To realize this goal, mobilizing technology and finance from international partners, including the UK, is a decisive factor.

The UK is currently a world leader in offshore wind power, with experience in implementing large-scale projects and a strong green finance system. Connecting UK technology and resources with Vietnam’s abundant natural potential – especially along its more than 3,000 km coastline – is expected to promote the energy transition in an efficient and sustainable manner.

British businesses such as Swire Coca-Cola, AstraZeneca, and HSBC have all confirmed their readiness to participate, from clean production, green supply chain management to capital solutions for renewable projects.

For Unilever, represented by Mr. Ankush Wadehra, General Manager of Personal Care in Greater Asia, the message was clear: “We are not only introducing global ESG achievements, but also looking forward to creating a sustainable future with our Vietnamese partners. Cross-industry cooperation and open dialogue are the key to unlocking clean energy solutions and a circular economy.”

New impetus for UK-Vietnam relations

With two major themes - IFC in Ho Chi Minh City and Renewable Energy - the UK - Vietnam Business Summit 2025 is expected to create strong momentum for sustainable growth, while affirming the commitment of the British business community in accompanying Vietnam on the path of integration and development.

The British Government and the business community wish to become partners with Vietnam, sharing experiences and supporting resources to help the country achieve its goals of sustainable development, modernity and deep integration.

Source: https://dantri.com.vn/kinh-doanh/doanh-nghiep-anh-dong-hanh-voi-viet-nam-xay-dung-ifc-va-net-zero-20251007140741514.htm