Leading UAE economic groups seek to expand investment in Vietnam
Leaders of Abu Dhabi Ports Group and Sirius International Holding of International Holdings Company (IHC) expressed their desires to explore investment opportunities in seaport, logistics and smart cities development in Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Dubai on December 2.
IHC is a public company headquartered in Abu Dhabi with a listed capitalization of more than US$250 billion. To date, IHC has more than 480 affiliate companies operating in the fields of real estate, agriculture, technology, energy, industry, and retail
Abu Dhabi Ports Group is a subsidiary of IHC operating in the field of logistics, industrial park and free trade area development with 2022 revenue reaching US$1.5 billion.
IHC has invested in Vietnam through TTEK Company, specializing in providing technology solutions for customs and digital payment services. It expects to expand investment and business in Vietnam in the fields of seaports, logistics, digital transformation, smart urban areas, and non-tariff areas.
At the meeting, Prime Minister Pham Minh Chinh welcomed the group’s expansion plan, and said infrastructure and digital transformation are big priorities for Vietnam.
Vietnam is committed to creating favourable conditions and maintaining a stable environment for investors to do long-term and effective business in the country, he assured the CEOs.
He proposed that Abu Dhabi Ports Group, with its resources, experience and modern management capacity, coordinate with the Ministry of Planning and Investment, the Ministry of Transport and relevant ministries of Vietnam to develop specific investment cooperation projects in infrastructure.
He also proposed that Sirius International Holding and other businesses of IHC expand cooperation with Vietnam in the field of digital transformation in the near future.
On the occasion, Abu Dhabi Ports Group awarded a memorandum of understanding on cooperation to Vietnam Maritime Administration, while Sirius International Holding presented a memorandum of understanding on cooperation to National Digital Transformation Agency under the Ministry of Information and Communications.
The same day, Prime Minister Pham Minh Chinh received Anders Opedal, president and CEO of Equinor, the largest energy group of Norway.
The PM requested that the group effectively deploy existing projects, and cooperate well with Vietnam Oil and Gas Group (Petrovietnam) and relevant agencies in deploying renewable energy transmission and offshore wind power projects, for domestic use and export.
He said Vietnam stays ready to accompany foreign investors in protecting their rights and interests, and removing obstacles, in the spirit of harmonious benefits and risk sharing.
Opedal expressed the group’s desire to increase cooperation with Petrovietnam to help develop the offshore wind power industry in Vietnam,.