UK-Vietnam cooperation in technology and finance to be strengthened

Standing Deputy Prime Minister Nguyen Hoa Binh visited the United Kingdom from March 16-19, aiming to strengthen economic ties and explore new opportunities for further cooperation  between the two countries.

During his trip, the Deputy Prime Minister met with key British leaders, including government officials, ministry representatives, local authorities, and financial organizations. Discussions between the two sides focused on development of Vietnam’s international financial centers (IFCs) and strategies to attract more investment into the country.

In a statement, British Consul General in Ho Chi Minh City Alexandra Smith emphasized the importance of multiple events held during Mr. Binh's visit that would further deepen business collaboration between the two countries. She noted the UK government’s commitment to supporting Vietnam’s growth in both the technology and finance sectors.

The UK’s Southeast Asia Tech Week will be launched in Ho Chi Minh City at the end of March, bringing a delegation of leading UK technology companies to explore new opportunities in Vietnam’s rapidly growing digital and tech sectors. This event promises to be a key platform for both nations to forge new connections and foster deeper collaboration in these vital industries.

Moreover, in June 2025, the UK will host London Tech Week, providing an additional opportunity for Vietnamese tech and fintech companies to engage with UK businesses. This event will also mark the 15th anniversary of the UK-Vietnam Strategic Partnership (2010 - 2025). Looking ahead, the UK is committed to enhancing its partnership with Vietnam, with several significant events planned in the near future.

A key highlight of the UK-SEA Tech Week 2025 will be an Open Banking workshop, which is particularly timely given Vietnam’s recent developments in this area. The State Bank of Vietnam recently released a draft circular on Open Banking, setting the stage for further progress in the sector. The workshop, featuring experts from the UK such as Henk van Hulle, CEO of Open Banking Ltd, Jamie Leach, Open Data Strategist at Raidiam, and Huw Davies, CEO and Co-Founder of Ozone API, will offer valuable insights into the evolving global open banking landscape.

“They will present and discuss the current global open banking landscape, including technical implementations, regulatory frameworks, and governance, as well as how developments and technologies can be used to advance open banking in Vietnam,” Ms. Alexandra Smith said.

These initiatives reflect the UK’s ongoing commitment to fostering deeper collaboration with Vietnam, particularly in the technology and finance sectors. The visit comes on the heels of the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024, a milestone that has prompted a series of workshops aimed at helping businesses in both countries understand and leverage the opportunities presented by the agreement.