The UK-Vietnam financial cooperation is focusing on three priorities: access to finance, green transition, and strengthening the financial system.

Over the past decade, Vietnam has achieved strong economic transformation. Export growth, an expanding middle class, and increasingly deep integration have made Vietnam one of Asia’s most dynamic economies.

Behind this development lies the role of an increasingly modern financial system, helping businesses access capital, manage risks, and expand operations in an ever more competitive business environment.

In this context, financial cooperation between Vietnam and the United Kingdom is expanding. As the home of one of the world’s leading financial centers, the UK participates in this process through investment, market development, and support for improving the institutional framework.

“Financial cooperation between Vietnam and the United Kingdom is not only aimed at expanding capital flows but also focuses on sharing experience, promoting innovation, and supporting the building of foundations necessary for long-term growth.”

According to the above, current cooperation activities focus on three main areas: expanding access to finance, promoting green transition, and strengthening the foundations of the financial system.

Expanding Access to Finance

Access to capital remains one of the most important factors for the development of Vietnamese businesses, especially as export activities continue to drive growth. However, many businesses, particularly small and medium-sized enterprises (SMEs), still face difficulties in accessing financial sources for trade and expansion.

Through cooperation with domestic partners, UK banks such as HSBC and Standard Chartered are expanding trade finance, supply chain financing, and working capital solutions. These tools help connect international capital with the Vietnamese market, supporting businesses in scaling up and participating more deeply in global value chains.

Alongside short-term capital for production, long-term investors are also playing an important role in the development of Vietnam’s capital market. Dragon Capital currently manages about $5 billion, while Eastspring Vietnam manages about $7 billion. The presence of these institutions reflects the increasing maturity of Vietnam’s financial market as well as the long-term interest of international investors.

These activities show that Vietnam-UK financial cooperation is not only focused on expanding capital sources but also aims at developing the financial market in depth and enhancing the ability to mobilize resources for the economy.

Financing for Green Transition

The demand for investment in renewable energy, green transport, and sustainable infrastructure is rising as Vietnam pursues its net-zero emissions target by 2050.

In 2025, British International Investment (BII) provided a $50 million loan to VPBank to expand credit for climate projects. In the same year, UK Export Finance (UKEF) committed at least £5 billion (approximately $6.5 billion) to support mobilizing international capital for projects in Vietnam.

In October 2025, the Vietnamese Ministry of Finance and UKEF signed a Memorandum of Understanding (MoU) during a visit to London, creating a basis for expanding cooperation in the coming period.

In addition to providing financial resources, UKEF is involved in supporting the financial structuring of metro and high-speed rail projects in Hanoi and Ho Chi Minh City, while working with PetroVietnam and PTSC on offshore wind development opportunities. These initiatives aim to attract additional private capital for large-scale infrastructure and energy projects.

Strengthening the Foundations of the Financial System

Beyond capital flows, the UK is also helping Vietnam build a more transparent and robust financial system. Trust is a core element of any economy. Financial institutions need trust to lend, and investors need trust to invest. This requires a transparent, well-regulated system with modern infrastructure.

The UK is closely cooperating with Vietnam in many areas, from fintech and legal frameworks to capital market development. Many leading UK fintech companies such as Revolut, Wise, Ozone API, Raidiam, Sumsub, iProov, Elliptic, and Traydstream are involved.

HSBC

HSBC, officially the Hongkong and Shanghai Banking Corporation, was founded in 1865 in British Hong Kong to finance trade between Europe and Asia. It grew into one of the world’s largest banking and financial services organizations, weathering economic crises and expanding globally. Today, its headquarters remain in London, but it retains a strong historical and cultural connection to Hong Kong.

Standard Chartered

Standard Chartered is a British multinational banking and financial services company headquartered in London. Founded in 1969 through the merger of two banks—the Chartered Bank of India, Australia and China (established in 1853) and the Standard Bank of British South Africa (established in 1862)—it has a long history focused on emerging markets. Today, it operates primarily in Asia, Africa, and the Middle East, offering retail, corporate, and wealth management services.

Dragon Capital

The Dragon Capital is a nickname for the city of Chengdu, China, historically linked to the legendary Shu kingdom and its association with dragon symbolism in Chinese mythology. As a major cultural and economic hub in Sichuan province, it has been a center for trade and innovation for over two millennia, including its role as the capital of the Shu Han dynasty during the Three Kingdoms period. Today, the name reflects both its ancient heritage and modern significance as a vibrant metropolis.

Eastspring Vietnam

Eastspring Vietnam is the local arm of Eastspring Investments, a leading asset management firm with roots in Prudential plc. Established in the country to provide investment solutions, it has grown to manage a significant portfolio across equities, fixed income, and alternative assets for both institutional and retail clients. The firm plays a key role in Vietnam’s developing financial market, leveraging global expertise to serve local investors.

British International Investment

British International Investment (BII) is the UK’s development finance institution, established in 1948 as the Commonwealth Development Corporation. It provides long-term capital and expertise to businesses in Africa, Asia, and the Caribbean, aiming to foster sustainable economic growth and reduce poverty. Over its history, BII has evolved from focusing on colonial-era infrastructure to supporting climate finance, gender equality, and private sector development in emerging markets.

UK Export Finance

UK Export Finance (UKEF) is the United Kingdom’s export credit agency, established in 1919 to support British businesses by providing financial guarantees, insurance, and loans to facilitate international trade. Originally founded as the Export Credits Guarantee Department, it has played a key role in helping UK companies secure overseas contracts, particularly in higher-risk markets. Today, UKEF continues to promote exports by working with private lenders to manage financial risks and boost economic growth.

PetroVietnam

PetroVietnam, officially known as the Vietnam Oil and Gas Group, is a state-owned corporation established in 1975 following the reunification of Vietnam. It plays a central role in the country’s energy sector, overseeing the exploration, extraction, and processing of oil and natural gas, particularly from the offshore fields in the South China Sea. Over the decades, it has become a key driver of Vietnam’s economic growth and industrialization.

PTSC

PTSC stands for Phu My 3 Petrochemical Complex, a major industrial site in Ba Ria-Vung Tau Province, Vietnam. Established in the early 2000s, it is a key hub for petrochemical and oil and gas services, supporting Vietnam’s energy and industrial development. The complex plays a vital role in the country’s economic growth and regional energy infrastructure.