SCIC participates in the 2024 Vietnam-UAE Business Forum 

HANOI, Vietnam, August 26, 2024 - The State Capital Investment Corporation (SCIC) participated in the Vietnam-UAE Business Forum, held at the Melia Hotel in Hanoi, aimed at promoting economic cooperation and investment between partners from the United Arab Emirates (UAE) and SCIC.

Attending the working sessions at the forum were SCIC’s Chairman of the Board of Members Mr. Nguyen Chi Thanh; Deputy General Director Le Thanh Tuan; and leaders from various SCIC functional departments. The UAE delegation included the Undersecretary of the Abu Dhabi Ministry of Investment, officials from the Abu Dhabi Investment Authority (ADIA), as well as from Mubadala Investment Company and the Abu Dhabi Fund for Development (ADFD).

During the meeting, Chairman Nguyen Chi Thanh introduced to the UAE partners the investment opportunities in Vietnam through the acquisition of shares in enterprises within SCIC's divestment portfolio, and highlighted several investment collaboration opportunities in areas such as high technology, pharmaceuticals, and infrastructure. This presented a valuable opportunity for both sides to explore cooperation and expand investment markets in sectors of mutual interest.

Chairman of the Board of Directors Mr. Nguyen Chi Thanh sharing information with the Undersecretary of the Abu Dhabi Ministry of Investment at the meeting

Chairman Nguyen Chi Thanh also emphasized that based on the strong government-to-government relationship between the two countries in general, and the cooperation between SCIC and the UAE in particular, SCIC is ready to support and create the most favorable conditions for long-term collaboration in the future. To further enhance bilateral cooperation, the Chairman proposed that both sides increase information exchange and expressed a desire to organize specific business forums in the near future to facilitate connection and collaboration.

Additionally, SCIC shared with the UAE delegation information regarding current regulations related to investment processes, as well as new legal mechanisms in Vietnam for toll road projects, through joint ventures between SCIC and the ADQ fund under the Abu Dhabi Investment Ministry, as well as other UAE investment funds such as ADIA and Mubadala. This collaboration aims to serve not only current projects but also areas SCIC is researching for future investment, including expressways, seaports, airports, data centers, and more.

During the meeting, the Chairman also shared that Vietnam is making efforts to implement digital transformation and green transition. Therefore, SCIC hopes that the UAE will actively support and assist in these endeavors. Notably, FPT, one of the major enterprises in SCIC's portfolio, is eager to collaborate with UAE companies to undertake these projects.

The Undersecretary of the Abu Dhabi Investment Ministry expressed interest in the proposals made by Chairman Nguyen Chi Thanh, as well as the significant development potential of Vietnam. The UAE is prepared to create the best conditions for investment activities between the two sides; the Undersecretary also agreed to organize business forums in the upcoming phase to implement specific activities once the UAE receives information about the enterprises and projects in Vietnam seeking international collaboration.

At the conclusion of the working sessions, Chairman Nguyen Chi Thanh sincerely thanked the UAE partners and proposed that both sides further strengthen cooperation, regularly exchange information, and actively promote investment opportunities to achieve sustainable development goals for both nations.