Vingrop, Vinfast signed strategic cooperation with 4 leading partners in the Middle East

During his visit to the United Arab Emirates (UAE), Prime Minister Pham Minh Chinh witnessed the signing of a Memorandum of Understanding (MOU) between Vingroup , VinFast and four leading partners in the Middle East on maritime development, shipbuilding; sustainable exploitation of sea and land; digital transformation and cooperation in the field of electric vehicles and green transportation. The simultaneous signing of MOUs between Vingroup and VinFast with four leading UAE corporations not only contributes to connecting businesses of both sides, but also affirms Vingroup's potential and existing position in key investment areas of the country.

Vingroup Vice President Le Thi Thu Thuy and Nguyen Viet Quang (3rd-4th from left) with Middle Eastern partners at the MOU signing ceremony

Under the witness of Prime Minister Pham Minh Chinh at the Vietnam - UAE Business Forum, Vingroup signed a Memorandum of Understanding (MOU) with three leading Middle Eastern partners, AD Ports Group, NMDC, Benya Technologies; VinFast signed an MOU with Emirates Driving Company (EDC). The parties will focus on cooperation in four key strategic investment and business areas.

Specifically in the field of maritime transport , AD Ports Group - one of the leading port management and logistics development companies in the UAE expressed its desire to cooperate with Vingroup to develop the capacity to build shipyards, transport systems, and seaport operations, in order to promote the modernization of the maritime logistics and manufacturing industry in Vietnam.

Mr. Nguyen Viet Quang, Vice President of Vingroup and representative of AD Ports Group presented the MOU in the presence of Prime Minister Pham Minh Chinh.

Vingroup is responsible for finding suitable locations for projects, supervising construction, providing essential infrastructure and cooperating with local partners. AD Ports Group is responsible for arranging capital, operating and connecting with international customers.

In the field of sustainable exploitation of marine land , Vingroup and NMDC, the leading group in marine infrastructure and coastal protection in the UAE, will consider cooperation in the project of reclamation of 150 million m3 of marine land for urban areas, large-scale marine reclamation projects for industry and real estate, sustainable coastal protection projects for high-end real estate and other coastal exploitation projects... In which, Vingroup plays a key role in developing high-end real estate and urban projects. NMDC provides advanced technical solutions to enhance sustainability and minimize impacts on marine ecosystems.

Once operational, the above projects are expected to create thousands of new jobs for local workers, contributing to promoting economic development in coastal areas, while generating great benefits for Vietnam's coastal tourism and services industry.

Mr. Nguyen Viet Quang, Vice President of Vingroup and representative of NMDC at the Vietnam - UAE Business Forum

In the field of digital transformation, Vingroup and Benya Technologies, a company representing a group of investors from the Middle East and Africa looking for investment opportunities in Vietnam, will jointly assess the feasibility and develop a plan to implement projects, including a super-large data center project, developing technical infrastructure, electricity and water treatment to meet the requirements of the data center. The total investment capital is expected to be up to 3.5 billion USD.

The mega data center project will be developed in three phases with an estimated scale of up to 300 MW. The project is expected to not only meet the digital infrastructure needs of domestic and international enterprises, but also contribute positively to the local socio-economic development.

Mr. Nguyen Viet Quang, Vice President of Vingroup and representative of Benya Technologies

VinFast (a subsidiary of Vingroup) also signed an MOU with Emirates Driving Company (EDC), Abu Dhabi's leading driver training and road safety company, aiming to cooperate in areas including electric vehicles, driver training in Vietnam and investment to support Abu Dhabi's industry.

Under the agreement, EDC will lead a consortium that is expected to invest in VinFast. For VinFast, in addition to accessing capital, VinFast can also leverage EDC’s experience in driver training and traffic safety, contributing to the building of a comprehensive electrified transportation ecosystem.

Ms. Le Thi Thu Thuy, Vice President of Vingroup and representative of Emirates Driving Company (EDC) signed MOU in UAE

The agreement aims to increase global electric vehicle production capacity, meet the rapidly growing demand for green transportation and raise awareness of traffic safety; and affirms EDC's commitment to contributing to the green transportation revolution that is taking place strongly in the Middle East, to address environmental issues and climate change.

The four areas in which Vingroup and VinFast signed MOUs with leading UAE corporations are all based on Vietnam's natural advantages in maritime economy; at the same time, they make the most of Vingroup's proven strengths in urban development, tourism, logistics services, technology and industry. The above favorable cooperation conditions are a solid foundation for the success of future MOUs, contributing to ensuring sustainable connections between businesses of both sides./.

Vietnam.vn