ADQ, an Abu Dhabi-based developmental company, announced today, Saturday, February 8, that it has sign a memorandum of understanding with State Capital Investment Corporation (SCIC) a sovereign wealth fund owned by the Government of Vietnam, to establish a framework for cooperation in key sectors of mutual interest in the Southeast Asian country.
Publish dateSaturday 8 February 2025 - 16:01
According to Amac News, under the agreement, both entities will work together to identify and assess joint investment opportunities that support Vietnam’s economic and strategic goals.
Vietnam is the third largest economy in Southeast Asia after Indonesia and Thailand and is expected to grow by 6.5 percent in 2025 and 2026.
In October 2024, Vietnam and the UAE finalized their Comprehensive Economic Partnership Agreement, Vietnam’s first with a Middle Eastern country. The agreement paves the way for further cooperation in key sectors, including oil and gas, renewable energy, and agriculture.
Mohammed Hassan Al Suwaidi, Minister of Investment and CEO and Chairman of ADQ Group, said that the partnership aims to deepen bilateral relations between the UAE and Vietnam.
On the other hand, Nguyen Chi Thanh, Chairman of SCIC, said: "The signing of the investment cooperation agreement is an important milestone that provides a solid foundation for the partnership between SCIC and ADQ in particular, as well as the development of bilateral relations between the two countries in general. SCIC is ready to provide the best conditions for both parties to engage in long-term cooperation in the future."
Vietnam is the third largest economy in Southeast Asia after Indonesia and Thailand and is expected to grow by 6.5 percent in 2025 and 2026.
In October 2024, Vietnam and the UAE finalized their Comprehensive Economic Partnership Agreement, Vietnam’s first with a Middle Eastern country. The agreement paves the way for further cooperation in key sectors, including oil and gas, renewable energy, and agriculture.
Mohammed Hassan Al Suwaidi, Minister of Investment and CEO and Chairman of ADQ Group, said that the partnership aims to deepen bilateral relations between the UAE and Vietnam.
On the other hand, Nguyen Chi Thanh, Chairman of SCIC, said: "The signing of the investment cooperation agreement is an important milestone that provides a solid foundation for the partnership between SCIC and ADQ in particular, as well as the development of bilateral relations between the two countries in general. SCIC is ready to provide the best conditions for both parties to engage in long-term cooperation in the future."
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Source : news agency wam
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