Politics

Vietnam hopes to enhance comprehensive partnership with UAE: Deputy PM

Deputy Prime Minister Bui Thanh Son proposed the UAE consider establishing a transit and storage centre for crude oil and petrochemical products in Vietnam, and support the Southeast Asian nation in green transition and renewable energy initiatives.

Deputy PM Bui Thanh Son (R) meets with UAE Minister of Investment Mohamed Alsuwaidi in Hanoi on February 8. (Photo: VNA)
Deputy PM Bui Thanh Son (R) meets with UAE Minister of Investment Mohamed Alsuwaidi in Hanoi on February 8. (Photo: VNA)

Hanoi (VNA) – Vietnam attaches much importance to bolstering the comprehensive partnership with the United Arab Emirates (UAE), Deputy Prime Minister Bui Thanh Son affirmed while hosting a reception for UAE Minister of Investment Mohamed Alsuwaidi in Hanoi on February 8.

Welcoming his guest’s appointment as the UAE minister in charge of bilateral cooperation, Son spoke highly of Alsuwaidi’s visit as well as the field trips to Vietnam by major corporations from the Middle Eastern country to study investment opportunities here. He described them as concrete activities to carry out the commitments between Prime Minister Pham Minh Chinh and UAE leaders during the former’s trip to the country in October last year.

Alsuwaidi, for his part, welcomed his host's coming visit to the UAE and participation in the World Government Summit 2025 which will take place in the country from February 11-13, an influential UAE initiative that brings together government leaders, major corporations, and scholars to discuss future governance and technological innovation. He said he hopes that the two sides will exchange viewpoints and agree upon their significant cooperation areas during Son’s visit.

The minister went on to express the UAE's strong interest in such sectors as high technology, AI, energy, and logistics. He lauded Vietnam’s investment climate, noting growing interest from UAE investors and investment funds in the country, with several potential collaborative projects under discussion between the two sides.

Deputy PM Son said the abovementioned sectors are also Vietnam's priorities, asking for the UAE's continued coordination in high-tech, AI and database centre projects as well as acceleration of digital transformation.

He also proposed the UAE consider establishing a transit and storage centre for crude oil and petrochemical products in Vietnam, and support the Southeast Asian nation in green transition and renewable energy initiatives.

Touching on trade and logistics, Son asked the two sides to speed up the ratification and effectively implement the Comprehensive Economic Partnership Agreement, aiming to boost bilateral trade to 20 billion USD as agreed by the high-level leaders of the two countries.

Vietnam, he said, is interested in building international financial centres and free trade zones, and it seeks to leverage the UAE’s expertise as a leading regional financial hub. Besides, seaport development is an area that Vietnam is focusing on.

At the meeting, the two parties reached consensus to advance cooperation in several key projects, including the UAE's investment in a youth football academy for the Hanoi Police Football Club and agricultural investments to enhance the UAE's food security through rice cultivation in Vietnam./.

VNA
#green transition #international financial centre #Vietnam - UAE comprehensive partnership #UAE #Bui Thanh Son #UAE Minister of Investment UAE Vietnam
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