During his official visit to the United Arab Emirates (UAE), on the morning of October 28 (local time), in the capital Abu Dhabi, Prime Minister Pham Minh Chinh received UAE Minister of Investment Mohamed bin Hassan Alsuwaidi.
According to the Government Newspaper, at the meeting, Prime Minister Pham Minh Chinh highly appreciated the position of the UAE as the largest investor in the Arab world, affirming that the UAE is one of the top priority partners to expand investment cooperation. However, according to the Prime Minister, with 38 FDI projects in Vietnam with a total registered investment capital of 74.1 million USD, the UAE ranked 52nd out of 144 countries and territories with investment projects in Vietnam and Vietnam has 5 investment projects in the UAE with a total registered capital of 1.8 million USD, the above investment results are not commensurate with the potential and expectations of both sides.
The Prime Minister emphasized that the opportunities and potential for investment cooperation between Vietnam and the UAE are huge; said that during the Prime Minister's visit to the UAE this time, the two sides will upgrade relations and sign the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA); then build a plan to connect the two economies to soon achieve the goal of bringing two-way trade to 10 billion USD.
The Prime Minister said that Vietnam aims to build an international financial center in Ho Chi Minh City and Da Nang and build free trade zones in major cities; he hopes that the UAE, with experience from the Dubai and Abu Dhabi Financial Centers, will support Vietnam in forming a suitable policy framework and development model; participate in the process of building, investing and developing a financial center in Vietnam.
Stating that Vietnam is focusing on perfecting its institutions, training high-quality human resources, and developing strategic infrastructure, including seaports, high-speed railways, airports, etc., with the aim of becoming an international transit point, the Prime Minister called on UAE investment funds with their capacity, resources, and influence to support Vietnam in accessing international financial and investment resources, especially green financial resources, to implement sustainable development goals towards green growth.
UAE Minister of Investment Mohammed Bin Hassan Al Suwaidi said that Vietnam with a population of 100 million and the UAE with a population of 10 million are both countries with roles and positions in the region; are developing rapidly based on science, technology, innovation, strongly attracting foreign investment..., so the two sides have many areas of cooperation that can complement each other.
The UAE Minister of Investment said he is ready to share experience and support Vietnam in building financial centers in Ho Chi Minh City and Da Nang City; affirmed that he will research and guide UAE corporations to invest in strategic projects in Vietnam, creating effects for the entire economy; create favorable conditions to support and introduce potential UAE partners to Vietnamese businessmen and investors to cooperate, expand operations and smoothly implement investment projects in the UAE.
