BUSINESS IN BRIEF 31/10

British investments in Vietnam to surge: diplomats British diplomats have painted a bright future for trade and investment between the United Kingdom and Vietnam as major investments and commercial deals by companies from their country have started coming or are in the pipeline. The new achievements were highlighted by Kate Harrisson, deputy head of Mission at the British embassy in Vietnam, and British Consul General Tim Brownbill at their meeting with reporters in HCMC on Tuesday, or more than a year after the two sides inked strategic partnership. Brownbill, who is also director of the UK Trade and Investment in Vietnam, put the UK investments in Vietnam at US$2 billion and expected the number to exceed US$3 billion by the end of next year. Harrisson confirmed UK investors were very keen to come to Vietnam and a number of British companies were very active in this country. Brownbill named a list of areas in this country attractive to British investors, from oil exploration and development, financial services, and infrastructure to education, retail and other sectors that they have strengths. “We see a number of big investments start to come online,” Brownbill said. He proved that Premier Oil was going to invest over US$1 billion in Vietnam in an oil project which will be the biggest British-led investment in this country. Soco is another energy company that is also planning major investment in Vietnam, according to Brownbill. But he said British companies were also looking for projects in infrastructure development, including…