The UK registered four new FDI projects in October, along with US$7.44 million in newly registered capital, according to the latest figures for October from the Ministry of Planning and Investment. This is slightly lower than September, which saw five new projects and US$1.89 million in newly registered capital.
Year-to-date data shows a total of 40 new projects and US$225.65 million in newly registered capital. These figures indicate that the UK continues to play an important role in Vietnam’s economic development, particularly in sectors like manufacturing and processing.
Furthermore, it underscores a long-term commitment enhancing trade relations between the UK and Vietnam and expanding opportunities for further collaboration in the global market.
Of note, a number of well-known British companies operate in Vietnam already, including Unilever, which has multiple manufacturing facilities producing products across personal care, home care, and food and beverages sectors. Rolls-Royce, known for its luxury cars, also operates in the aerospace and industrial manufacturing sectors in Vietnam, producing parts and systems for aircraft engines. Diageo, a global leader in alcoholic beverages, runs manufacturing plants in Vietnam, producing products such as whiskey and beer to meet the growing demand in Southeast Asia.
BP is a significant player in the energy sector in Vietnam, involved in oil exploration, gas production, and renewable energy initiatives and Marks & Spencer has established factories for garment production.
While not involved in manufacturing, Standard Chartered Bank also plays a key role in Vietnam’s financial sector, supporting international trade and investment. HSBC, a leading banking and financial services company, operates branches in Vietnam, facilitating foreign investment and trade, including from UK-based businesses.
See also: Vietnam FDI Tracker by Sector