Abu Dhabi: ADQ and State Capital Investment Corporation (SCIC), a sovereign wealth fund owned by the Government of Vietnam, today announced the signing of a Memorandum of Understanding (MoU) to establish a framework for collaboration in key sectors of mutual interest in the Southeast Asian country.
According to Emirates News Agency, as part of the agreement, both entities will collaborate to identify and assess potential co-investment opportunities that support Vietnam’s economic ambitions and align with its strategic development objectives. Vietnam, the third-largest economy in Southeast Asia, is projected to grow by 6.5 percent in both 2025 and 2026. In October 2024, Vietnam and the UAE finalized a Comprehensive Economic Partnership Agreement, Vietnam’s first with a Middle Eastern nation, paving the way for enhanced collaboration across key sectors, including oil and gas, renewable energy, and agriculture.
Mohamed Hassan Alsuwaidi, Minister of Investment and Managing Director and Group Chief Executive Officer of ADQ, emphasized the partnership’s role in deepening ties between the UAE and Vietnam. He highlighted ADQ’s commitment to investing in high-growth markets that align with their strategic investment priorities. Alsuwaidi stated that Vietnam’s rapidly expanding economy presents unique opportunities for impactful investments in key sectors of mutual interest, aiming to drive sustainable growth and unlock tangible value.
Nguyen Chi Thanh, Chairman of State Capital Investment Corporation, remarked that the signing of the MoU marks a significant milestone, laying a solid foundation for the partnership between SCIC and ADQ. He noted the importance of this collaboration in enhancing bilateral relations between the two nations. Thanh expressed SCIC’s readiness to support and facilitate favorable conditions for long-term collaboration, suggesting the organization of dedicated business forums in specific sectors to foster connectivity, explore investment prospects, and develop joint investment mechanisms.