SCIC and ADQ Sign Memorandum of Understanding on Investment Collaboration

HANOI, Viet Nam, February 8, 2025 – At the Metropole Hotel in Hanoi, the State Capital Investment Corporation (SCIC) and Abu Dhabi Developmental Holding Company (ADQ) signed a Memorandum of Understanding (MoU) on investment collaboration.

Mr. Nguyen Chi Thanh – Chairman of SCIC Board of Members and H.E. Mohamed Alsuwaidi, UAE Minister of Investment and Group CEO of ADQ, representing the two organizations, signing the Memorandum of Understanding

Attending the signing ceremony were representatives from ADQ, including H.E. Mohamed Alsuwaidi, UAE Minister of Investment and Group CEO of ADQ, alongside the rest of ADQ leadership. Also present was H.E. Bader Abdulla Almatrooshi, UAE Ambassador Extraordinary and Plenipotentiary to Viet Nam.

Representing SCIC were Mr. Nguyễn Chí Thành, Chairman of the Board of Members; Mr. Nguyễn Quốc Huy, Board Member and General Director; Mr. Lê Huy Chí, Board Member; Mr. Lê Thanh Tuấn, Deputy General Director; and representatives from SCIC’s functional departments.

The MoU aims to strengthen bilateral cooperation and explore investment opportunities between SCIC and ADQ, particularly following SCIC’s working visit to the UAE in October 2024, which included bilateral meetings with UAE financial organizations and a reception hosted for the Vietnamese Prime Minister at ADIA’s UAE headquarters.

Established in 2018, ADQ is an active global sovereign investor with a focus on critical infrastructure and supply chains. As a strategic partner to the Government of Abu Dhabi, ADQ invests in the growth of business platforms anchored in the Emirate that deliver value to local communities and long-term financial returns to its shareholder. ADQ’s total assets amounted to USD 225 billion as of 30 June 2024. Its rapidly expanding portfolio encompasses companies across numerous core sectors of the economy, including energy and utilities, transport and logistics, food and agriculture, and healthcare and life sciences.

Under the signed MoU, SCIC and ADQ will jointly assess potential financial collaborations in projects across Viet Nam and other sectors aligned with each party’s needs, interests, and capabilities.

Speaking at the ceremony, Mr. Nguyễn Chí Thành, SCIC Chairman, stated: “The signing of the Memorandum of Understanding (MoU) on investment collaboration is a landmark event, establishing a robust foundation for the partnership between SCIC and ADQ specifically, while contributing to the broader development of Viet Nam-UAE bilateral relations. This holds particular significance following the Vietnamese and UAE leadership’s agreement to elevate bilateral ties to a Comprehensive Strategic Partnership in October 2024 during Prime Minister Phạm Minh Chính’s official visit to the UAE. The signing ceremony advances commitments to expand state-level investment cooperation in mutually prioritized sectors.

As a government investor of Viet Nam, SCIC stands ready to facilitate optimal conditions for fostering long-term collaboration between the two parties.

To further deepen bilateral cooperation, we would like to propose organizing sector-specific business forums to enhance connectivity, explore investment opportunities, and establish joint-investment mechanisms in the future.”

H.E. Mohamed Alsuwaidi, UAE Minister of Investment and ADQ Group CEO, expressed strong interest in Chairman Thành’s proposals and acknowledged Viet Nam’s significant growth potential.

Delegates at the MoU signing ceremony taking a commemorative photo

Concluding the event, Chairman Thành commended H.E. Ambassador Almatrooshi for his instrumental role in advancing SCIC-ADQ relations and thanked H.E. Alsuwaidi for his leadership. He emphasized the need for enhanced information exchange, proactive investment promotion, and sustained efforts toward mutual sustainable development goals.