Business

PM calls on UAE firm to expand investment in Vietnam

Prime Minister Nguyen Xuan Phuc encouraged the United Arab Emirates’ (UAE) Investment Corporation of Dubai to expand investment in Vietnam, while hosting the group’s Executive Director and CEO Mohammed Ibrahim Al Shaibani in Hanoi on March 25.
PM calls on UAE firm to expand investment in Vietnam ảnh 1Prime Minister Nguyen Xuan Phuc (R) and Executive Director and CEO of the United Arab Emirates’ (UAE) Investment Corporation of Dubai Mohammed Ibrahim Al Shaibani (Photo: VNA)

Hanoi (VNA) – Prime Minister NguyenXuan Phuc encouraged the United Arab Emirates’ (UAE) Investment Corporation ofDubai to expand investment in Vietnam, while hosting the group’s ExecutiveDirector and CEO Mohammed Ibrahim Al Shaibani in Hanoi on March 25.

PM Phuc said Vietnam attaches great importanceto the sound friendship and multifaceted cooperation with the UAE, especially ineconomy.

He noted that the UAE is now the biggest tradepartner of Vietnam in the Middle East, with an annual bilateral trade value ofaround 6 billion USD.

The PM believed that after its trip to Vietnam,the Dubai investment firm will develop long-term investment plans in thecountry.

Shaibani said that following the annual meetingof the World Economic Forum (WEF) in Davos, Switzerland, in January 2019, thegroup started working with Vietnam’s VinaCapital to plan a visit to the countryto study cooperation opportunities.

The firm worked with authorities of Quang Nam andsurveyed some locations planned for implementing a large-scale resort andentertainment complex project in the central coastal province, which reapedgood results, he said.

He added that his group wants to seek reliablepartners in Vietnam for long-term business.

Vietnam has a many advantages to develop tourism,such as hospitable people and beautiful landscapes, he said.

To attract more international tourists, theSoutheast Asian country should invest more in infrastructure development andincrease the application of information technology in entry and exitmanagement, Shaibani suggested.

The UAE has a large demand for labour, so hehopes to cooperate with Vietnam to bring its workers to work in the Middle Easterncountry, particularly in tourism services and hotels.

PM Phuc said Vietnam has a favourable businessenvironment with improved infrastructure, and the number of internationaltourists to the country has been on the rise.

The location that the group chose to carry outits project is located near beautiful beaches, world cultural heritage sites,airports, seaports, and key national highways, so the possibility of success isvery high, he said.

The PM expressed his willingness to cooperatewith the UAE and the Dubai firm to bring Vietnamese guest workers to thecountry.

He emphasised that the Vietnamese government andministries are interested in the group’s projects and hope it will expandinvestment in other fields, such as energy.–VNA
VNA
#Prime Minister Nguyen Xuan Phuc #United Arab Emirates’ (UAE) Investment Corporation of Dubai #expand investment #friendship #multifaceted cooperation #economy #Middle East #World Economic Forum #Vietnamplus #Vietnam News Agency UAE Vietnam
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