At the Vietnam-UAE Business Forum, delegates listened to and shared development orientations and strategies, investment opportunities, and solutions to open up and promote economic and investment cooperation between the two countries.
According to the special correspondent of VNA, during his official visit to the United Arab Emirates (UAE), on the afternoon of October 28, local time, in Dubai, Prime Minister Pham Minh Chinh attended the Vietnam-UAE Business Dialogue with the theme "Digital transformation, green transformation and innovation: exploring investment cooperation opportunities."
At the seminar, delegates listened to and shared development orientations and strategies, investment opportunities, and solutions to open up and promote economic and investment cooperation between the two countries in the coming time.
Many leading enterprises in the two countries introduced their potential, strengths, and cooperation needs, in line with the orientations of the two countries and global trends, especially in the fields of green transformation, digital transformation, development and application of science and technology, artificial intelligence (AI); and shared about their success when investing in Vietnam...
The leader of Hyosung Group (Korea) commented that Vietnam has a young, dynamic and highly skilled workforce; an open trade environment with 19 free trade agreements (FTAs) signed with major economies in the world; political stability helps minimize investment and business risks; the Vietnamese Government also provides many incentives for foreign companies to encourage the production and export of high value-added products...
A representative of FPT Corporation said that Vietnam is affirming its international position thanks to its strong development and extensive investment in technology. In 2023, FPT will achieve a revenue of 1 billion USD from providing information technology services to foreign markets.
FPT expects to cooperate with investment funds in the UAE to support technology startups from both countries.
FPT also supported the establishment of the Vietnam-UAE Business Association in October 2024, and will always be an active member, contributing to the association's activities and helping bilateral businesses explore new markets.
Speaking at the seminar, Mr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE Ministry of Economy, said that Vietnam and the UAE both have positions and roles and are one of the dynamic growth poles of the region.
Vietnam is the UAE's largest trading partner in the Association of Southeast Asian Nations (ASEAN) and the UAE is Vietnam's largest trading partner in the Middle East.
Over the past time, Vietnam and the UAE have made great efforts to sign the Comprehensive Economic Partnership Agreement (CEPA). Through this, businesses from both sides have the opportunity to cooperate and promote trade and investment, for the prosperity of each country and the whole region.
The UAE Minister of State for Foreign Trade, Ministry of Economy, assessed that Vietnam is developing at the fastest pace in the region; is a production center, attracting foreign investment; has a developed agriculture, can ensure food security... Meanwhile, the UAE has extensive connections with the world, has a dynamic business environment and ecosystem. Thus, the two sides can cooperate and complement each other. Therefore, businesses need to identify goals, seek opportunities, promote cooperation, and open a new period of development.
Speaking at the event, Prime Minister Pham Minh Chinh said that during this visit, the upgrading of the relationship between the two countries to a Comprehensive Partnership and the conclusion of CEPA negotiations are of great significance to promoting economic, trade, investment and cooperation between businesses of the two countries.
The good political relations and friendship between the people of the two countries; the strategic position of the UAE in the Middle East and of Vietnam in Southeast Asia - the two most dynamically developing regions in the world - are important foundations, favorable conditions and great opportunities for businesses of the two countries to cooperate and invest.
According to Prime Minister Pham Minh Chinh, in addition to connecting through various forms of transportation, the two countries are rapidly connecting through telecommunications, fiber optic cables, etc. and may soon connect more closely through AI.
Prime Minister Pham Minh Chinh shared: “We should not miss the opportunity to connect the two economies, connect people, and connect businesses of the two countries.”
Prime Minister Pham Minh Chinh said that trade cooperation has achieved many positive results, businesses need to be more active in investment cooperation, thereby renewing traditional growth drivers (investment, export, consumption) and promoting new growth drivers such as digital transformation, green transformation, circular economy, sharing economy, knowledge economy, emerging fields such as AI, cloud computing, Internet of Things...
Introducing important development achievements after nearly 40 years of renovation, Prime Minister Pham Minh Chinh spent a lot of time sharing about the fundamental factors and major orientations in socio-economic development, foreign affairs and integration, ensuring national defense and security, cultural development, ensuring social security, building the Party and political system, and preventing corruption and negativity in Vietnam.
In the coming period, Vietnam will continue to firmly build a socialist-oriented market economy, build a socialist rule-of-law state, build socialist democracy, and consistently take people as the center, subject, goal, resource, and driving force for development.
Prime Minister Pham Minh Chinh affirmed that Vietnam is committed to protecting the legitimate and legal rights and interests of businesses and investors, not criminalizing civil, administrative and economic relations; creating a public, transparent, equal and healthy business environment in the spirit of "harmonious benefits, shared risks," "listening and understanding together, sharing vision and action together, doing together, winning together, enjoying together, developing together, sharing joy, happiness and pride;" "what is said must be done, what is committed must be done, what is done must have specific, measurable results."
Prime Minister Pham Minh Chinh said that in the coming time, with the policy of selective cooperation and foreign investment attraction, Vietnam will prioritize attracting investment projects in sectors and fields such as science and technology, innovation, research and development; green economy, digital economy, circular economy, knowledge economy, night-time economy; semiconductor production, new energy (such as hydrogen), renewable energy; green finance, building financial centers in Ho Chi Minh City and Da Nang; biotechnology, healthcare; electronic components, electric cars; strategic infrastructure development; diversification of markets, products, supply chains, etc.
Calling on UAE businesses to invest in the above fields, Prime Minister Pham Minh Chinh said that Vietnam will create the most favorable conditions, maintain political stability, national defense, and security, and ensure conditions for investors to operate with peace of mind, do business effectively, sustainably, and long-term.
Vietnam also commits to having enough electricity and no shortage of telecommunications waves for the economic transition and development process.
Prime Minister Pham Minh Chinh once again emphasized: “We have a great opportunity to connect the two economies, promote each other, and complement each other,” and gave an example of the UAE having strengths in services, developing emerging industries following the trend of the times, with a population of nearly 10 million people, while Vietnam has strengths in agriculture, a population of more than 100 million people, and a young, abundant labor force...
Prime Minister Pham Minh Chinh said Vietnam can ensure food security for the UAE, such as through the production and processing of agricultural products according to orders from UAE businesses.
Vietnam is currently implementing a project of 1 million hectares of high-quality, low-emission rice in the Mekong Delta, producing agricultural products in the direction of "green, clean, delicious."
Prime Minister Pham Minh Chinh believes that on the basis of the good relationship between the two countries, combining the strengths of the people and intelligence of the two nations, along with investment capital and experience of enterprises, the cooperation between the two sides will bring concrete results, benefit the people of the two countries, contribute to the economic development of the Middle East and Southeast Asia, promote friendship, create a space of peace, cooperation and development in the region and the world.
On this occasion, witnessed by Prime Minister Pham Minh Chinh, businesses of the two countries exchanged 12 cooperation documents in the fields of: AI, data center development, energy conversion, aviation, inland waterway transport, seaports, logistics, electric car manufacturing, finance, agriculture, and services.
Among them, Viettel Group and G42 Group, Presight Company of UAE cooperate to develop data centers, AI and energy conversion; Vietnam Airlines and Etihad and Emirates Airlines cooperate in the aviation sector; Vingroup Corporation and Benya and NDMC Groups cooperate to develop data centers; Vingroup and Emirates Driving Company cooperate to produce electric cars; Sovico Group and Abu Dhabi Port Group cooperate to develop logistics, free trade zones and port services; Vietjet Air and Emirates Airline cooperate in the aviation sector./.
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