SCIC and ADIA conclude fruitful discussions to partner up in new Viet Nam-based projects

On the morning of October 28, 2024, SCIC's delegation met with ADIA in Abu Dhabi, as part of Prime Minister Pham Minh Chinh's official visit to the UAE.

SCIC delegation meets and works with ADIA in Abu Dhabi

SCIC was represented by Mr. Nguyen Chi Thanh, Chairman of the Board of Members, Mr. Le Thanh Tuan, Deputy General Director, and other delegation members. ADIA was represented by Mr. Khadem Al Remeithi, Executive Director of Infrastructure, Mr. Karim Mourad, Global Head of Infrastructure, and colleagues.

During the meeting, SCIC introduced ADIA to its recent business activities and future strategies, while sharing information about investment projects under SCIC's research, including toll road stations and seaport projects. Mr. Nguyen Chi Thanh, SCIC Chairman, shared that Viet Nam has many advantages and has experienced rapid economic development in recent years. Currently, Viet Nam has significant infrastructure investment needs, estimated by the Asian Development Bank at up to 480 billion USD by 2030 to meet demands and support continued growth.

In response, Mr. Khadem Al Remeithi, ADIA's Executive Director of Infrastructure, expressed interest in Viet Nam's market potential and scale. According to ADIA's research on the Vietnamese market, the infrastructure sector, including toll road stations, has significant scale and development potential. Based on ADIA's previous experience in Asia and emerging markets, particularly in infrastructure projects with stable income and revenue streams, Mr. Khadem suggested that SCIC could play a similar role in attracting major global investors, including ADIA, as they have done previously in India and Indonesia.

SCIC Chairman Nguyen Chi Thanh noted that ADIA's successful investment models and experiences in developing Asian countries like India and Indonesia would be ideal templates for ADIA and UAE investors and businesses to approach and coordinate with Vietnamese government financial investors, including SCIC. Chairman Thanh also pointed out that implementing pilot projects based on these foundations would create excellent conditions for ADIA to better understand Viet Nam's market, mechanisms, and legal framework, serving as a basis for larger-scale financial investments and contributing to both countries' economic development and investment goals.

The delegation poses for a commemorative photo

At the conclusion of the meeting, Chairman Nguyen Chi Thanh thanked Executive Director Al Remeithi and took the opportunity to invite ADIA to visit and work at SCIC headquarters in Hanoi, Viet Nam.