Swire Group interested in expanding business foothold in Viet Nam
VGP - Swire Group Chairman Barnaby Swire stated that the conglomerate has maintained a long-standing presence in Viet Nam, with investments in Coca-Cola and operations through Cathay Pacific. The group is also interested in expanding its investment in the Southeast Asian nation in the near future.
Standing Deputy Prime Minister Nguyen Hoa Binh (3rd from R) at the meeting with Swire Group Chairman Barnaby Swire in London, March 18, 2025 - Photo: VGP/Dinh Hai
During his working visit to the UK, Standing Deputy Prime Minister Nguyen Hoa Binh, met with the leadership of Swire Group, one of the UK's leading conglomerates operating across multiple Asian countries.
Nguyen emphasized Viet Nam's policy of strengthening economic and trade cooperation between the two countries, encouraging British corporations, including Swire Group, to strengthen their presense in Viet Nam.
The Vietnamese Government is committed to creating favorable conditions for British businesses to capitalize on opportunities from free trade agreements such as the UKVFTA and CPTPP.
The Deputy Prime Minister proposed that Swire Group should expand cooperation in priority sectors, including the green economy, digital economy, and renewable energy, while also participating in the development of financial centers in Ho Chi Minh City and Da Nang—a crucial step in elevating Viet Nam's economic position.
The Deputy Prime Minister expressed his desire for Swire to become a key partner in developing these financial centers.
In response, Barnaby Swire reiterated commitment to move forward with the aircraft maintenance project at Van Don Airport in the northern province of Quang Ninh.
Barnaby Swire also highly valued Viet Nam's financial center development strategy.
He said Cathay Pacific is willing to cooperate with Viet Nam Airlines to enhance air connectivity between Viet Nam and international financial hubs.
Additionally, Swire is willing to share expertise in urban planning and real estate development, drawing on its experience in Hong Kong and Shanghai.
In Viet Nam, Swire has already invested in Empire City, a major project in Thu Thiem Urban Area, which is envisioned as the core of Ho Chi Minh City's financial center. Swire reaffirmed its commitment to contributing to the area's development.
The Vietnamese government is actively drafting plans to establish Ho Chi Minh City as an international financial center. A newly established steering committee, led by Prime Minister Pham Minh Chinh, is overseeing this initiative, which aims to position the city as a major financial hub in the region. The financial center is expected to be anchored in areas such as Thu Thiem and District 1, with a focus on high-tech financial services, fintech, and cross-border banking./.
