UK investors learn about Vietnam’s potential

The Vietnam-UK Trade and Investment Opportunities Conference was organised by Vietnam’s Embassy in the UK and the UK-ASEAN Business Council (UKBC). It took place as a delegation from Hanoi, led by Vice Chairman of the Hanoi People’s Committee Nguyen Huy Tuong, visited the UK to underline the capital city’s potential for investment.

Tuong said that Hanoi is ideal for UK firms looking to invest in areas such as banking and financial services, insurance, high tech industries, education and health care.

Head of the Southeast Asia Team for UK Trade and Investment (UKTI) Lizzy Hawkins said the UKTI sees Vietnam as a high growth market with significant opportunities in infrastructure, oil and gas, retails and logistics, transport, financial and legal services, IT and the environment.

At the conference, participants also heard the experiences and insights on doing business in Vietnam by Paul Smith, the Executive Chairman of the London-based IT services company Harvey Nash Outsourcing, which is currently operating in Vietnam.

Smith said that UK businesspeople should go and see the great commercial opportunities in Vietnam if they want to expand into Asia, as the country has so much potential.

Harvey Nash employs 4,500 people in both Hanoi and HCM City.

Smith was passionate about the country and the entrepreneurial spirit, drive and energy of his Vietnamese colleagues. He said they are hardworking, loyal, trustworthy, honest and highly skilled.

However, he did not forget to mention the many challenges when doing business in Vietnam, but said it had been well worth the effort.