Saudi Arabian Enterprises: Vietnam is an especially potential technology investment destination

(Chinhphu.vn) – On the afternoon of October 27, continuing a series of activities during his working trip to Riyadh, Saudi Arabia, Deputy Prime Minister Nguyen Chi Dung received Mr. Hassan Hallas, a businessman in the field of telecommunications technology, currently Co-founder and Chairman of the Board of Directors of Lyve Global and Co-founder and Partner of WeBuild Ventures.

Deputy Prime Minister Nguyen Chi Dung received Mr. Hassan Hallas, a businessman in the field of telecommunications technology, currently Co-founder and Chairman of the Board of Directors of Lyve Global and Co-founder and Partner of WeBuild Ventures - Photo: VGP/Thu Sa

Founded in 2016 and headquartered in the UAE, Lyve Global is a B2B SaaS platform that helps businesses digitize the entire customer journey from ordering - payment - delivery.

The company currently operates in more than 20 countries/regions, providing digital logistics, payment, and customer data solutions to hundreds of businesses; and has acquired a majority stake in Jeebly, a large last-mile delivery unit in the UAE.

WeBuild Ventures is a platform and investment fund focused on building and scaling technology companies in the Arab and Gulf Cooperation Council (GCC) region, through providing capital, human resources, networks and operational capabilities.

Mr. Hassan Hallas expressed his interest in the Vietnamese market and shared the possibility of cooperation between Lyve Global, WeBuild Ventures with Vietnam. in the fields of innovation, digital logistics, e-commerce, and technology investment. Thereby, contributing to strengthening market connectivity, investment, and M&A between Vietnam and the GCC region, especially the UAE and Saudi Arabia.

The Deputy Prime Minister affirmed that Vietnam welcomes the interest of Lyve Global and WeBuild Ventures in exploring cooperation and investment opportunities in Vietnam - Photo: VGP/Thu Sa

Welcoming and appreciating Mr. Hassan Hallas - a typical businessman of the Arab and Gulf Cooperation Council (GCC) region, with his vision in the field of digital transformation and innovation, the Deputy Prime Minister acknowledged the success of Lyve Global and WeBuild Ventures in building a technology, logistics, and e-commerce ecosystem in the Middle East and more than 20 countries.

Noting that the relationship between Vietnam and Saudi Arabia is constantly developing well in all aspects, in which cooperation in digital economy , innovation, e-commerce and smart logistics still has a lot of room, the Deputy Prime Minister affirmed that Vietnam welcomes the interest of Lyve Global and WeBuild Ventures in exploring cooperation and investment opportunities in Vietnam.

The Deputy Prime Minister proposed studying the possibility of cooperation between Lyve Global and Vietnamese enterprises in developing logistics and digital payment platforms to serve import-export and e-commerce.

In addition, WeBuild Ventures can coordinate with the National Innovation Center (NIC) to incubate, accelerate and invest in Vietnamese startups with the potential to expand into the GCC market. At the same time, connect investment funds and regional corporations to promote joint ventures and M&A deals in the fields of technology, manufacturing and services.

Deputy Prime Minister Nguyen Chi Dung received Mr. Emad Mostaque, Founder and CEO of Intelligent Internet - Photo: VGP/Thu Sa

Immediately afterwards, Deputy Prime Minister Nguyen Chi Dung received Mr. Emad Mostaque, Founder and CEO of Intelligent Internet (II) - a technology enterprise developing an open agent stack serving sovereign AI for governments and national organizations.

In Vietnam, Mr. Emad Mostaque is building an AI research and development team, focusing on open computing infrastructure, developing medical AI models and multi-purpose agents to serve the community.

In a discussion with the Deputy Prime Minister, Mr. Emad Mostaque said that Vietnam is a particularly potential destination for investment and cooperation in technology; at the same time, he expressed interest in the direction of cooperation between Vietnam and Intelligent Internet in the field of sovereign AI development including computing infrastructure, data, and open AI ecosystem serving the digital government and digital economy. Along with that is the possibility of cooperation in research, development and application of AI in Vietnam's priority areas such as healthcare, smart cities, manufacturing, education;...

Deputy Prime Minister presents souvenir to Mr. Emad Mostaque - Photo: VGP/Thu Sa

Appreciating Mr. Emad Mostaque's vision of developing open and decentralized AI, contributing to the democratization of technology and promoting sustainable development in the era of artificial intelligence, Deputy Prime Minister Nguyen Chi Dung said that Vietnam is implementing the National AI Strategy to 2030, aiming to build sovereign AI capacity, develop data standards, computing infrastructure, and an AI innovation ecosystem. The National Innovation Center (NIC) has been assigned by the Government to be the focal point for implementation.

Welcoming Intelligent Internet's cooperation idea in Vietnam, especially the building of an AI team in Vietnam, according to the Deputy Prime Minister, to realize the common goal of developing open computing infrastructure and sovereign AI, Vietnam proposed that Intelligent Internet coordinate with relevant agencies to launch a strategic pilot program.

"The Vietnamese Government is committed to creating a stable and transparent investment environment and accompanying international investors, including Lyve Global, WeBuild Ventures and Intelligent Internet, to cooperate in effective and sustainable business investment in Vietnam," the Deputy Prime Minister emphasized./.

Thu Sa

Source: https://baochinhphu.vn/doanh-nghiep-cua-saudi-arabia-viet-nam-la-diem-den-dau-tu-cong-nghe-dac-biet-tiem-nang-102251027214306788.htm