World’s fourth-largest fund ADIA seeks to expand investment in Vietnam

The United Arab Emirates’ (UAE) Abu Dhabi Investment Authority (ADIA) is actively looking for opportunities in Vietnam, which it sees as a key investment destination.

Khadem AlRemeithi, executive director of the infrastructure department at ADIA, made the statement during a meeting with Deputy Prime Minister Nguyen Chi Dung on Tuesday in Abu Dhabi.

Founded in 1976, ADIA is responsible for managing the investment funds of the Abu Dhabi government and is the fourth-largest investment fund in the world, with total assets under management of around $830 billion.

In Vietnam, ADIA has invested in The CrownX (TCX) through Platinum Orchid (owned by ADIA), along with TPG - a San Francisco-based investment firm managing assets worth $108 billion and Singapore-based investment firm SeaTown Holdings International to acquire approximately 19% of Vietnamese retail giant Masan’s stake in the company.

The CrownX owns Masan Consumer Holdings and WinCommerce, two critical pieces in Masan Group’s consumer-retail segment.

At the meeting, Dung praised ADIA's role and business results in recent years, emphasizing that Vietnam always highly values foreign investment, particularly from the UAE.

Highlighting Vietnam’s advantages, the Deputy PM urged the UAE agency to increase its investment in the country, particularly in highly potential sectors such as semiconductor manufacturing, infrastructure, and development of financial centers in Ho Chi Minh City and Danang, economic zones, and free trade zones.

In particular, he suggested that ADIA, with its experience and resources, consider investing in Vietnamese investment funds, which could significantly support the private sector, science and technology, and innovation in Vietnam.

Nasser AlKetbi, executive director of equities at ADIA, stated that the authority plays a strategic investment role for the Abu Dhabi government, focusing on long-term vision and sustainable development. He noted that there is significant room for the two sides to further boost investment cooperation in the future.

“The Vietnamese government is ready to engage in discussions and cooperation with the UAE on strategic partnerships. It is crucial to materialize these collaborations into concrete projects, especially those related to science and technology, innovation, and the establishment and operation of data centers,” Dung said, suggesting ADIA take the lead in pioneering UAE-Vietnam cooperation.

He assigned the Vietnamese Ministry of Finance to coordinate with ADIA to provide information on potential projects for future cooperation.

On October 29, 2024, in Abu Dhabi, during his meeting with ADIA managing director Sheikh Hamed Bin Zayed Al Nahyan, Vietnamese Prime Minister Pham Minh Chinh asked ADIA to cooperate with and support Vietnam in establishing infrastructure development funds for transportation, climate change adaptation, green transition, energy transition, digital transformation, innovation, and artificial intelligence.

The two sides could collaborate in developing financial centers in Ho Chi Minh City and Danang, free trade zones, and logistics hubs, as well as in tourism development and people-to-people exchanges, he noted.