In
his position as new British Consul General in Ho Chi Minh City and director of
UK Trade and Investment in Vietnam, Douglas Barnes tells VIR’s Hai Long about
his strategic priorities in Vietnam.
Can
you share your strategic priorities in Vietnam?
The UK government really identifies Vietnam a
major emerging market, we see Vietnam as a very key partner in our process of
continuously tackling with economic crisis globally since 2008.
During my appointment, I will follow four key
priorities. First, I will work to continue developing key contacts within local
and national government. Second, I try to build similiar relationship with UK
and Vietnamese companies. It is very important because I’m not only UK Consul
General but Trade Commissioner.
So I’m not just looking at Ho Chi Minh City or
Hanoi but other provinces to support UK companies seeking collaboration with
Vietnamese companies. Third, I will engage with wider contact network, in the
private and public sectors, beyond Hanoi and Ho Chi Minh City.
And above all, I try to meet bilateral trade
and investment targets set by both out governments by 2013. Under the Strategic
Partnership signed between the UK and Vietnam in 2010, Vietnam and UK agreed
ambitious joint targets to double bilateral trade to $4 billion and UK
investment in Vietnam to $3 billion in 2013.
What
targets do you have?
I have three main strategic objectives. First,
I will oversee a significant increase in bilateral trade and investment between
UK and Vietnam. Second, I will persuade more UK companies to consider Vietnam
as market of real business opportunities. Third, I will take forward the key
actions and objectives in Vietnam Strategic Partnership. It is the foundation
to establish a stronger, wider and deeper relationship between Britain and
Vietnam. Education is a key strength and the UK aims to become Vietnam’s top education
partner.
Have
you received any messages from UK companies about Vietnam?
Vietnam is seen as a difficult market to do
business by many UK companies because of worries about intellectual property
and corruption. So, I face the two challenges of identifying opportunities that
really exist and convince UK companies that is genuine chances and all the
negative perceptions about Vietnam is not bad as they think. I think it is
possible to do it. I did it in China. I will provide them with better quality
information and encourage they come and watch what really happen in Vietnam to
change their mindset.
What
are the potential sectors for UK companies in Vietnam?
Oil and gas, agriculture, construction,
finance services come after education as huge potential sectors. We have many
key major financial services invested here from UK such as Prudential, HSBC,
Standard Chartered. Manufacturing sectors are more difficult for UK companies
to join in.
Recently, we have carried out an exercise to
identify which is the key sector for UK companies and the ICT (information and
communication technology) is at the top.
The transfer from state-owned enterprises into
the private sectors according to Vietnam government’s policies is also good
opportunities for UK companies to invest into Vietnam.
Will
the gloomy economic situation globally limit the capital investment from UK to
Vietnam and the targets signed between two countries are too ambitious?
The UK government recognises that not only the
economic crisis but the impacts on the UK economy have been severe as it has
been for most of the western economies such as France, Germany, the US and
Japan as well.
So the UK government try to increase our
trading performance by encourages UK companies to look beyond the UK to trade
and invest to bring in revenue from doing business overseas.
vir.com.vn
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