PM Welcomes Increased UAE Investment in Vietnam

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During his official visit to the United Arab Emirates (UAE), in the capital city of Abu Dhabi, Prime Minister Pham Minh Chinh received leaders of leading UAE corporations in the fields of infrastructure development and management, seaports, logistics, and industrial parks.

Prime Minister Pham Minh Chinh received representatives of leading UAE corporations. Photo: VNA

UAE business leaders stated that UAE businesses have leading capabilities in developing and managing infrastructure, seaports, shipbuilding, logistics, and see Vietnam as having great potential in Southeast Asia to develop these sectors. They hope that the Government will create favorable conditions for UAE businesses to invest in Vietnam, including cooperation projects with Vingroup.

Appreciating the positive results of UAE businesses' operations over the past time, the Prime Minister said that after more than 30 years of establishing diplomatic relations, the Vietnam-UAE relationship has developed positively in many fields. However, investment cooperation activities between the two sides have not yet been commensurate with the potential of the bilateral relationship, and there is still much room for development in the future.

Providing information on Vietnam's development and priorities, the Prime Minister said that Vietnam is implementing three strategic breakthroughs, including perfecting the institution, training human resources, and developing strategic infrastructure, including expressways, high-speed railways, airports, seaports.

With 3,000km of coastline, port development is one of Vietnam's great potentials. Vietnam has issued a Master Plan for the development of Vietnam's seaport system for the period 2021-2030, with a vision to 2050, aiming to develop a synchronous, modern seaport system with high-quality services to meet the needs of socio-economic development.

Prime Minister Pham Minh Chinh received representatives of leading UAE corporations. Photo: VNA

Proposing that Abu Dhabi Ports Group and NDMC Group, with their experience in port management, Prime Minister Pham Minh Chinh supports and welcomes the cooperation plan of the groups with Vingroup. He considers this a smart, strategic choice, and hopes that the cooperation between the two sides will continue to be expanded to further promote the economic relations between the two countries in the future.

The Prime Minister requested that Vinfast and Emirates Driving promote cooperation, contribute, and together with Vietnam achieve the goal of green growth, sustainable development, and fulfilling the commitment of net-zero emissions by 2050 at COP26. In particular, the Prime Minister hopes that the investment cooperation between the two sides in establishing an electric vehicle manufacturing plant will be concretized and implemented soon in the future.

The Prime Minister also said that Vietnam is promoting development based on science and technology, innovation, digital transformation, green transformation, circular economy, knowledge economy, sharing economy, especially emerging industries such as semiconductors, cloud computing. He hopes that UAE businesses will cooperate and invest in Vietnam in these areas.

Stating that Vietnam has the potential and is promoting the implementation of oil and gas development and gas-to-power projects, offshore wind and solar energy projects, including a project with an investment of about US$10 billion, the Prime Minister said that this is an area where UAE businesses have strengths. He hopes that businesses will cooperate and invest.

The Prime Minister affirmed that Vietnam always creates favorable conditions in accordance with the law for UAE investors in general to invest and do business effectively and sustainably in Vietnam, contributing to promoting comprehensive and in-depth cooperation for the prosperity of the two countries, the region and the world.

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