UAE's $830 billion investment fund wants to deploy many projects in Vietnam

Along with implementing many projects in Vietnam, the director of ADIA fund is also ready to make recommendations and help the Vietnamese side build and develop investment funds.

The Prime Minister affirmed that Vietnam creates the most favorable conditions for investors - Photo: DOAN BAC

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).

Introducing the fund, ADIA director shared plans to seek investment opportunities and expand relations with Vietnam; affirming ADIA's strategy is to invest with long-term commitment.

Long-term investment commitment

ADIA is the agency representing the Government of Abu Dhabi, UAE in managing Abu Dhabi's investment funds. ADIA is managing assets of approximately 830 billion USD, making it the fourth largest investment fund in the world.

In Vietnam, ADIA has invested in The CrownX Joint Stock Company (TCX) through Platinum Orchid Company (owned by ADIA), together with TPG (an investment fund established in San Francisco, USA), which manages and invests assets worth 108 billion USD and SeaTown Holdings International (an investment fund based in Singapore) to acquire shares (about 19%) of Masan here.

Prime Minister Pham Minh Chinh said that during this visit, the two countries have established a comprehensive partnership and signed the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA). Therefore, 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 geographical position and location, Vietnam and UAE play an important role in the ASEAN and Gulf Cooperation Council (GCC) regions. Vietnam is a developing country with a large population and a great need to attract investment from other countries, including the UAE.

Appreciating the effectiveness of ADIA's activities, contributing to the economic and investment development of Abu Dhabi in particular and the UAE in general, the Prime Minister said that Vietnam has issued a national list of projects calling for foreign investment.

Accordingly, ADIA can refer to and study the above project list to consider and invest in Vietnam in key national projects.

In particular, the head of the Government emphasized accelerating transport infrastructure projects, infrastructure to respond to climate change, green transformation, energy transformation, digital transformation; and building large seaports and Long Thanh airport with the role of international transit.

Vietnam is also preparing to invest in the North-South high-speed railway project with a total capital of about 67 billion USD, along with many other railway projects with capital sources up to billions of USD. Building national data centers, information technology infrastructure, infrastructure to exploit new development spaces.

The Prime Minister 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, etc.

Sheikh Hamed Bin Zayed Al Nahyan said he is ready to implement the project in Vietnam - Photo: DOAN BAC

Increase cooperation in infrastructure investment, financial centers, food

The Fund cooperates 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 in Vietnam; developing tourism and human exchange.

In addition, ADIA can cooperate with Vietnam's Food Corporations to contribute to ensuring food security for the UAE.

The Prime Minister affirmed that Vietnam is committed to protecting the legitimate rights and interests of investors and creating the most favorable conditions for investors to operate effectively, stably, sustainably and long-term.

The Director of ADIA said that he is ready to carry out cooperation and investment projects in Vietnam, especially in the areas mentioned by the Prime Minister. These are also the leading areas of ADIA with a lot of experience.

ADIA is also ready to make recommendations and help Vietnam build and develop investment funds. He said he will quickly send a working group 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; the two Embassies to connect information between the two sides; the National Oil and Gas Group, the State Capital Investment Corporation (SCIC) and food corporations to discuss specifically about potential projects that the two sides can cooperate on in the coming time.

Source: https://tuoitre.vn/quy-dau-tu-830-ti-usd-cua-uae-muon-trien-khai-nhieu-du-an-tai-viet-nam-20241029140901628.htm