Prime Minister Phạm Minh Chính greets the Director of the Abu Dhabi Investment Authority (ADIA) Sheikh Hamed bin Zayed Al Nahyan. — VNA/VNS Photo
The Vietnamese Prime Minister Phạm Minh Chính met Sheikh Hamad Bin Zayed Al Nahyan, Director of the Abu Dhabi Investment Authority (ADIA) during his official visit to the United Arab Emirates (UAE) in the capital city of Abu Dhabi on Tuesday morning (local time).
At the meeting, Sheikh Hamad Bin Zayed Al Nahyan said that ADIA was the agency representing the Government of Abu Dhabi and UAE in managing Abu Dhabi investment funds.
ADIA is managing assets of about US$830 billion, the fourth largest investment fund in the world.
In Việt Nam, ADIA has invested in The CrownX Joint Stock Company (TCX) through Platinum Orchid Company, to acquire about 90 per cent of Masan's shares.
ADIA wishes to continue expanding relations and investment with Việt Nam, affirming ADIA's strategy of investing with long-term commitments.
Prime Minister Phạm Minh Chính said that during this visit, the two countries have established a Comprehensive Partnership and signed the Việt Nam - UAE Comprehensive Economic Partnership Agreement (CEPA).
The two sides needed to make the most of "time and intelligence" to immediately implement specific tasks, bringing benefits to the two countries and two peoples, said the Prime Minister.
With favourable positions and geographical locations, Việt Nam and the UAE play an important role in the ASEAN region and the Gulf Co-operation Council (GCC).
Việt Nam is a developing country with a large population and a great need to attract investment from countries, including the UAE.
Appreciating the effectiveness of ADIA's activities, contributing to the economic development and investment of Abu Dhabi and the UAE, the Prime Minister said that Việt Nam had issued a national list of projects calling for foreign investment, which ADIA could refer to and study, while considering investing in Việt Nam in key national projects.
The Prime Minister proposed that ADIA cooperate and support Việt Nam in building investment funds to develop transport infrastructure, infrastructure to respond to climate change, green, energy and digital transformation, innovation, artificial intelligence and cooperate in building and developing financial centres in HCM City and Đà Nẵng, free trade zones, cargo transit centres, such as that for the transfer and storage of crude oil and petrochemical products in Việt Nam, while also developing tourism and workforce exchanges.
In addition, ADIA can cooperate with Việt Nam's food corporations to contribute to ensuring food security for the UAE.
The Prime Minister affirmed that Việt Nam is committed to protect the legitimate and legal rights and interests of investors, creating the most favourable conditions for investors to operate effectively, stably, sustainably and in the long-term.
Sheikh Hamed Bin Zayed Al Nahyan agreed and said that ADIA was ready to implement the Prime Minister's ideas in carrying out cooperation and investment projects in Việt Nam, especially in the fields mentioned by the Prime Minister, which were also the leading fields of ADIA with a lot of experience.
ADIA was also ready to make recommendations and help the Vietnamese side build and develop investment funds, he noted.
He said that he would quickly send a working delegation to Việt Nam to turn these ideas into reality as soon as possible. — VNS