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Vietnam, Britain sign series of economic contracts

Vietnamese and British entrepreneurs signed a number of memoranda of understanding, agreements and contracts at a business forum held in London on Oct. 19.
Vietnamese and British entrepreneurssigned a number of memoranda of understanding, agreements and contractsat a business forum held in London on Oct. 19.

The newly-inked contracts include a 1.5 billion USD project to build athermo-electricity centre in the central province of Binh Dinh andanother to build a seaport warehouse in the southern province of TienGiang at a cost of 1.5 billion USD.

Addressing the Vietnam-UK Business Forum 2009, which is organised bythe London Chamber of Commerce and Industry in conjunction with theVietnamese Embassy in the UK, Vietnamese Deputy Prime Minister HoangTrung Hai stressed that Vietnam always attaches importance tofriendship and multi-faceted cooperation with the UK, especially in thefields of economics, trade, investment and education and training.

The Deputy PM also briefed the forum on socio-economic development inVietnam, the country’s foreign policy in the renovation process and itsefforts to surmount the adverse impacts triggered by the economiccrisis over the past year.

For his part, British Ambassador to Vietnam Mark Kent affirmed thatVietnam is an attractive destination with huge opportunities forBritish entrepreneurs and the outlook for long-term investment in theSoutheast Asian nation is positive.

The British Investment Promotion Agency ranks Vietnam’s investmentattraction only after BRICS - the emerging market economies includingBrazil, Russia, India and China.

The one-day Vietnam-UK Business Forum 2009 drew the participation ofhundreds of businesses from both countries. Most British entrepreneursattending the forum expressed their belief that long-term investment inVietnam is a good choice.

Colin Stanbridge, the Chief Executive of London Chamber of Commerce andIndustry, said that trade and business activities between Vietnam andthe UK are expected to increase considerably in the future and that theforum represents concrete evidence to this effect./.

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