Vingroup, VinFast sign strategic cooperation with 4 leading partners in the Middle East

The simultaneous signing of cooperation agreements between Vingroup and VinFast with four leading corporations in the UAE not only contributes to connecting businesses of the two sides, but also affirms Vingroup's potential and existing position in the country's key investment areas. On October 29, within the framework of his visit to the UAE, Prime Minister Pham Minh Chinh witnessed the signing ceremony of a Memorandum of Understanding (MOU) between Vingroup and VinFast with 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. 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 partners in the Middle East: 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 areas of business investment.

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

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.

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.

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.

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 the marine ecosystem. When put into operation, the above projects are expected to create thousands of new jobs for local workers, contributing to promoting economic development in coastal areas, while creating 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 super-large 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 socio-economic development of the locality. 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.

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

According to the agreement, EDC will lead a consortium expected to invest in VinFast. For VinFast, in addition to accessing capital, VinFast can also take advantage of EDC's experience in the field of driver training and traffic safety, contributing to the construction of a comprehensive electrified transportation ecosystem. The agreement aims to increase global electric vehicle production capacity, meet the rapidly increasing demand for green transportation and raise awareness of traffic safety; at the same time, affirm 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 existing natural advantages, which are the maritime economy; at the same time, maximizing 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. According to Ms. Le Thi Thu Thuy, Vice President of Vingroup, cooperation with strategic partners from the Middle East will open up great opportunities for Vingroup and VinFast in promoting the development of technology, infrastructure and green economy in Vietnam, while creating a solid foundation for expanding their presence internationally. “We believe that the strength of the Vingroup ecosystem, our understanding of the domestic market, combined with the experience of our partners, will help the projects achieve many successes, contributing positively to sustainable development, modernizing infrastructure and improving the quality of life of Vietnamese people,” said Ms. Thuy. Mr. Mohamed Juma Al Shamisi, Managing Director and CEO of AD Ports Group, shared: “Vietnam is one of the fastest growing economies in Asia, with GDP expected to continue to increase in the coming years. We are excited about the opportunity to cooperate with Vingroup to help modernize the port, maritime and logistics infrastructure here, and promote Vietnam as an international trade hub. Under the vision of the leadership, AD Ports Group wishes to expand its operations into Southeast Asia and help Vietnam improve its connectivity with the global trade ecosystem.”

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

“We are proud to accompany Vingroup in strategic projects in Vietnam. With NMDC's extensive experience and capacity in coastal reclamation and protection, we believe that this cooperation will create outstanding values ​​for both parties, while promoting sustainable development of the environment and community in Vietnam,” said a representative of NMDC. “We are honored to cooperate with Vingroup to exploit the enormous opportunities from the rapidly growing big data and cloud computing markets globally. With confidence in Vingroup's reputation and implementation capacity, we believe that the agreement will not only benefit both businesses but also contribute to promoting the development of the digital economy in Vietnam and the region, creating outstanding values ​​for society and the community.” Mr. Khaled Al Shemeili, CEO of Emirates Driving Company, shared: “With over 20 years of experience in the field of driver training and road safety, we have set the benchmark for the industry through our commitment to innovation, research and development of leading solutions. We aspire to be a pioneer in the field of smart mobility, electrification and automation. EDC recognizes the potential of electrified vehicles in the world, and is very optimistic about the prospects of VinFast in the Middle East”. Source: https://vov.vn/doanh-nghiep/vingroup-vinfast-ky-hop-tac-chien-luoc-voi-4-doi-tac-hang-dau-tai-trung-dong-post1131776.vov