Leading UAE firms plan to expand investment cooperation in Vietnam

Four leading UAE corporations collaborating with Vietnamese firms have plans to expand investment cooperation in the country, executives told Prime Minister Pham Minh Chinh in Abu Dhabi Sunday.

Prime Group, Abu Dhabi Ports Group (ADPG), NMDC Energy, and Emirates Driving Company (EDC) operate in retail, infrastructure development, seaport, logistics, industrial parks and transportation.

Their senior executives also told Chinh that Vietnam was a highly promising destination for cooperation and investment. They presented cooperation plans and projects with Vietnamese partners including private conglomerate Vingroup.

Mohamed Juma Al Shamisi, managing director and group CEO of Abu Dhabi Ports Group, said they plan to establish a representative office in Vietnam.

Chinh appreciated the positive results achieved by UAE businesses in recent times. He welcomed Abu Dhabi Ports Group’s cooperation plan with Vingroup, calling it a smart choice with strategic vision. He expressed his hope that the collaboration between the two sides would continue to expand, further promoting economic relations between the two countries.

He noted that with a coastline of over 3,000 kilometers and a strategic location, Vietnam was building its seaports strength, with work on major facilities underway including Lach Huyen in the northern city of Hai Phong, Lien Chieu in the central city of Danang, Thi Vai-Cai Mep in the southern province of Ba Ria-Vung Tau, and Can Gio in Ho Chi Minh City.

“These seaports will not only serve the Vietnamese economy, the world’s 20th largest in trade volume, but also become a trans-shipment hub of the Southeast Asian region and the world,” he said.

The PM encouraged UAE firms to promote collaboration in digital transformation, green transition, circular economy, electric vehicle manufacturing, and innovation alongside emerging fields like artificial intelligence (AI), cloud computing, and Internet of Things (IoT).

Chinh also welcomed NDMC Energy's efforts to enhance cooperation with Vietnamese partners, including state-run Petrovietnam, in areas like gas exploitation, offshore wind development, and sea encroachment.

He suggested that the group, with its extensive network of partners, serve as a bridge to bring reputable and capable investors to Vietnam in the time to come.

Vietnam was focusing on three strategic breakthroughs in terms of institutions, infrastructure and human resources, particularly in strategic transportation infrastructure such as airports, seaports, and expressways, Chinh said, encouraging Abu Dhabi Ports and NDMC Energy to explore and enhance cooperation and investment in these areas.

Looking towards the 100th founding anniversary of the Communist Party of Vietnam and the 100th founding anniversary of the country, Vietnam was implementing long-term strategies as well as breakthrough mechanisms and policies to attract foreign investment, one of its key growth drivers, following the principles of transparent institutional framework, seamless infrastructure, and smart governance, the PM stressed.

“The Vietnamese government will create all possible favourable conditions for UAE investors to conduct effective and sustainable business in Vietnam,” he affirmed.

Abu Dhabi Ports Group, established in 2006, is a leading group in the development and management of port infrastructure, logistics, and industrial zones in the UAE. In 2023, the group reported revenues of approximately $3 billion. Its core business activities include maritime transport services with a fleet of over 270 vessels, connecting 84 ports across 35 countries; logistics and transportation services in 40 countries; and infrastructure development in special economic zones.

It manages 10 key ports and terminals, including Khalifa Port, one of the largest and most modern ports in the world alongside various commercial and container ports as well as those supporting the oil and gas industry in Europe, Asia and the Middle East.

NMDC Energy, founded in 1976, is a premier marine contractor and developer of large-scale marine and coastal infrastructure projects. It provides innovative solutions for urban development and sustainable infrastructure projects apart from developing port and industrial land projects and services. In 2023, the group earned revenues of around $4.5 billion.

Established in 2000, Emirates Driving Company is a leading provider of driver training and road safety programs. It has partnered with the Swedish National Road Consulting AB (Sweroad) to incorporate global best practices in driver and road safety education in the UAE.

Prime Group, founded in 1995, is a multi-sector group with a wide network in Egypt as well as the Middle East and Africa with more than 5,000 employees. The group also specializes in strategic consulting.