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Deputy Prime Minister Le Minh Khai on June 27 received Jose Vinals, Chairman of Standard Chartered PLC, who is on a working visit to Vietnam.

Khai said that this is a special occasion because it is the 120th anniversary of Standard Chartered's presence in Vietnam. The year 2023 also marked an important milestone of 50 years of establishing diplomatic relations between Vietnam and the UK.

Deputy Prime Minister Le Minh Khai receiving Chairman of the UK-based Standard Chartered PLC José Viñals in Hanoi on June 27. Photo: VGP

Deputy Prime Minister Le Minh Khai emphasized that Vietnam wants to strengthen cooperative relations with the UK. Economic-trade-investment cooperation continues to play a pivotal role in the strategic partnership between the two countries.

The UK is currently the 3rd largest trading partner in Vietnam's European market and the 9th largest exporter, as well as one of the leading European investors in Vietnam.

Over the past years, Standard Chartered Bank has supported policy advice and attracted investors to Vietnam. The Government hopes and believes that British banks' presence in Vietnam such as Standard Chartered will continue to have positive impacts, contributing to the friendship and cooperation between the two countries.

The Deputy Prime Minister said that in the context of a world economy with many difficulties, with the efforts of the Government, people, businesses, and the support of international friends, including Standard Chartered, Vietnam's economy continues to achieve positive results.

GDP growth in the first quarter of 2024 reached 5.66%, the highest in the last four years. It is forecasted that in the second quarter, Vietnam's economy will continue to recover and grow.

Deputy Prime Minister Le Minh Khai (right) and Chairman of the UK-based Standard Chartered PLC José Viñals. Photo: VGP

Vietnam achieves significant growth rate

Vietnam had excellent macroeconomic and financial management to overcome difficulties and challenges of the global economy, achieving impressive growth that "many developed countries are jealous of," said Chairman of the Standard Chartered PLC Jose Vinals.

Jose Vinals affirmed that he will continue to expand investment to contribute to the growth and prosperity of Vietnam.

The Chairman also expressed his thanks to the Government for appointing Standard Chartered as the official consulting organization on national credit index since 2012.

He expressed his joy that this index of Vietnam has continuously improved in recent years, reaffirming Standard Chartered's commitment to concrete actions to realize Vietnam's goals.

Vietnam has many prospects to become an investment country by 2030 as set target, and may even complete the target sooner than previously thought. The Vietnamese Government believes that Standard Chartered will continue to promote its important role, accompanying Vietnam on the path of development.

At the meeting, the Deputy Prime Minister also asked Standard Chartered to support Vietnam in achieving the Net Zero emissions target.

As one of the countries severely affected by climate change, the Government of Vietnam is clearly aware of the impacts of climate change as well as the need to respond promptly and responsibly to the challenges of climate change.

Vietnam recognizes that responding to climate change requires a global approach and the cooperation, coordination and implementation of all countries.

The Deputy Prime Minister hopes that Standard Chartered will continue to advise and support Vietnam in terms of policy advice, arranging investment capital sources, as well as implementation strategies to achieve the goal of bringing net emissions to "zero.”

The Deputy Prime Minister affirmed that the Vietnamese Government is committed to always creating favorable conditions for reputable businesses, financial institutions and banks such as Standard Chartered to operate long-term and stably in Vietnam.

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