UK’s commitment to potential projects in Vietnam totals $6.5bn

The British Embassy in Vietnam, the British Consulate General in Ho Chi Minh City, the British Chamber of Commerce Vietnam, and Dragon Capital jointly organized the 2026 UK-Vietnam High-Level Conference on Financial Services in the city on Monday.

The conference brought together more than 150 senior representatives from government agencies, businesses, financial sector, research institutions, and professional organizations of the two countries.

UK-Vietnam partnership extends beyond trade, investment

Speaking at the opening of the conference, Ambassador Frew said the comprehensive strategic partnership between Vietnam and the UK had expanded far beyond trade and investment.

“The UK is proud to stand alongside Vietnam not only as an investor, but also as a long-term partner, sharing expertise, innovation, and international experience,” Frew said.

UK-Vietnam cooperation covers three areas: expanding access to finance, mobilizing capital for the green transition, and strengthening the core foundations of the financial system, according to the ambassador.

He said British financial institutions were helping Vietnamese businesses access funding. 

HSBC and Standard Chartered are working with Vietnamese partners to expand trade finance, supply chain finance, and working capital solutions.

UK Export Finance has also committed at least $6.5 billion to supporting potential projects in Vietnam.

Frew added that the UK was helping Vietnam strengthen the legal and regulatory foundations for the development of its International Financial Center, including cooperation with the Supreme People’s Court of Vietnam on establishing a court within the International Financial Center in Ho Chi Minh City.

Cooperation on capital markets, green finance

Vice-chairman of the Ho Chi Minh City People’s Committee Nguyen Cong Vinh said financial cooperation was a pillar of the comprehensive strategic partnership between Vietnam and the UK.

Vinh said the city appreciated the support of UK partners in developing the Vietnam International Financial Center (VIFC) in Ho Chi Minh City.

The city’s demand for investment in transport infrastructure, the green transition, digital transformation, and improved business competitiveness requires diverse, long-term sources of capital at reasonable costs, he said.

Ho Chi Minh City considers the development of the VIFC a strategic task aimed at connecting international capital flows with the economy’s development needs while creating modern financial services.

Alongside special policies under the National Assembly's Resolution 222/2025/QH15, the Law on Urban Development, passed by the National Assembly on August 24, provides an additional legal basis for linking VIFC activities with the city’s strategic projects and creates more tools for mobilizing capital for infrastructure, Vinh said.

The VIFC is aiming to launch its first financial products this year, including municipal bonds and project bonds.

Ho Chi Minh City wants to strengthen cooperation with the UK in developing capital markets, mobilizing long-term financial resources, developing green finance and financial innovation, strengthening management and supervision, developing human resources, and expanding leadership opportunities in the financial sector, Vinh said.

Vietnam moves from ambition to implementation

Speaking at the conference, Dame Susan Langley, Lord Mayor of the City of London, said her visit was the third consecutive to Vietnam by a Lord Mayor of the City of London, demonstrating the British city's strong support for the UK-Vietnam partnership.

She expressed expectations that Ho Chi Minh City and Da Nang would play complementary roles in building a trusted, internationally connected financial ecosystem and a regional financial center in Southeast Asia.

The Lord Mayor said Vietnam had developed concrete plans and was moving from ambition to implementation in the development of its International Financial Center.

Over the past five years, the City of London, TheCityUK and the UK Foreign, Commonwealth & Development Office have supported the process through technical assistance, legal and regulatory advice, and UK-Vietnam working groups.

Langley also emphasized the importance of skills, expertise, and professional standards in developing the workforce for the International Financial Center.

The UK will continue to support Vietnam in mobilizing long-term capital, developing capital markets, supporting sustainable infrastructure, managing climate and infrastructure risks, promoting fintech innovation, and strengthening investor confidence, she said.