Introduction from Baroness Neville-Rolfe DBE CMG, Chair of the UK-ASEAN Business Council
Vietnam’s business-friendly policies, improvements in infrastructure, productive labour force and stable politics have positioned them as one of the most attractive business destinations in Asia. As the UK looks to strengthen its partnerships with countries around the world, Vietnam stands out offering tremendous trade and investment opportunities for UK companies.
The Vietnamese economy is the third largest and one of the fastest growing in Southeast Asia. Vietnam’s real GDP growth is forecast to reach 6.5% in 2020 and 2021. Its knowledge-hungry and tech-savvy population of around 94 million has a median age of 30 and is increasingly educated, middle class and looking for quality products and services – just what the UK has to offer.
Vietnam has signed 26 FTAs, is a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and is about to sign the EU-Vietnam free trade agreement. Business friendly policy reforms have resulted in Vietnam steadily climbing up the World Bank’s ease of doing business rankings to number 68. Vietnam will assume Chairmanship of ASEAN in 2020; it will also host the inaugural Vietnamese F1 Grand Prix in Hanoi in April.
The UK-ASEAN Business Council sits at the heart of the UK-ASEAN business network, linking UK and ASEAN Governments and business from Harrogate to Hanoi with the
aim of increasing economic prosperity.
This is the time for UK businesses to expand into this dynamic market.
Baroness Neville-Rolfe DBE CMG
Chair, UK-ASEAN Business Council
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