UAE's fourth-largest investment fund wants to launch projects in Vietnam "as soon as possible"

ADIA Investment Fund is ready to make recommendations and help Vietnam build and develop investment funds, and will quickly send a working delegation to Vietnam to turn these cooperation ideas into reality as soon as possible...

Prime Minister Pham Minh Chinh and Sheikh Hamed Bin Zayed Al Nahyan - Photo: VGP

On the morning of October 29, in Abu Dhabi, during his official visit to the UAE, Prime Minister Pham Minh Chinh received Sheikh Hamed Bin Zayed Al Nahyan, Director of the Abu Dhabi National Investment Fund (ADIA). ADIA (1976) is the agency representing the Government of Abu Dhabi, UAE in managing Abu Dhabi's investment funds. ADIA is managing assets of about 830 billion USD, the fourth largest investment fund in the world . Introducing the Fund and ADIA's plan to seek investment opportunities and expand relations with Vietnam. He also affirmed that ADIA's strategy is to invest with a long-term commitment.

Prime Minister Pham Minh Chinh received Sheikh Hamed Bin Zayed Al Nahyan, Director of the Abu Dhabi National Investment Fund. Photo: Doan Bac

Prime Minister Pham Minh Chinh said that during this visit, the two countries established a Comprehensive Partnership and signed the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA). According to him, the two sides need to make the most of "time and intelligence" to immediately implement specific tasks, bringing benefits to the two countries and two peoples. With favorable positions and geographical locations, the Prime Minister said that Vietnam and the UAE play an important role in the ASEAN region and the Gulf Cooperation Council (GCC). Vietnam is a developing country with a large population and a great need to attract investment from countries, including the UAE. Informing that Vietnam has issued a National List of projects calling for foreign investment, Prime Minister Pham Minh Chinh suggested that ADIA could refer to and study the above list of projects, to consider investing in Vietnam in key national projects. More specifically, the Prime Minister said that Vietnam is promoting the development of transport infrastructure, infrastructure to respond to climate change, green transformation, energy transformation, and digital transformation. Vietnam is also building large seaports, Long Thanh airport with the role of international transit; preparing to invest in the North-South high-speed railway project worth about 67 billion USD, along with many other railway projects with capital sources of up to billions of USD; building national data centers, information technology infrastructure, infrastructure to exploit new development spaces... He proposed that ADIA cooperate and support Vietnam in building an investment fund to develop transport infrastructure, infrastructure to respond to climate change, green transformation, energy transformation, digital transformation, innovation, artificial intelligence... The Vietnamese Government leaders also hope to receive cooperation in building and developing financial centers in Ho Chi Minh City and Da Nang, free trade zones, cargo transit centers such as transit centers, crude oil reserves and petrochemical products... "Vietnam is committed to protecting the legitimate and legal rights and interests of investors, creating the most favorable conditions for investors to operate effectively, stably, sustainably and long-term", the Prime Minister affirmed. Sheikh Hamed Bin Zayed Al Nahyan said ADIA is ready to implement the Prime Minister's ideas in implementing cooperation and investment projects in Vietnam, especially in the fields mentioned by the Prime Minister - which are also the leading fields in which ADIA has a lot of experience. Emphasizing his readiness to make recommendations and help Vietnam build and develop investment funds, Sheikh Hamed Bin Zayed Al Nahyan said he will quickly send a working delegation to Vietnam to turn these cooperation ideas into reality as soon as possible. The Prime Minister assigned the Ministry of Planning and Investment to be the focal agency to support and provide information to ADIA, while relevant units will discuss specifically about potential projects that the two sides can implement in the near future./.

Le Quang