ADQ And State Capital Investment Corporation Explore Investment Opportunities In Vietnam

ADQ and the State Capital Investment Corporation (SCIC), a sovereign wealth fund owned by Vietnam's government, have signed a Memorandum of Understanding (MoU). This agreement sets the stage for collaboration in key sectors within Southeast Asia. The partnership aims to explore co-investment opportunities that align with Vietnam's economic goals and strategic development plans.

Vietnam ranks as the third-largest economy in Southeast Asia, following Indonesia and Thailand. It is expected to grow by 6.5% in both 2025 and 2026. In October 2024, Vietnam and the UAE concluded a Comprehensive Economic Partnership Agreement. This was Vietnam’s first such agreement with a Middle Eastern country, enhancing collaboration in sectors like oil, gas, renewable energy, and agriculture.

Mohamed Hassan Alsuwaidi, Minister of Investment and Managing Director and Group CEO of ADQ, stated that this partnership aims to strengthen ties between the UAE and Vietnam. He highlighted ADQ's commitment to investing in high-growth markets aligning with their strategic priorities. "Vietnam’s rapidly expanding economy presents a unique opportunity to drive impactful investments in key sectors of mutual interest," he said.

Nguyen Chi Thanh, Chairman of SCIC, remarked on the significance of the MoU as a milestone for both organisations. He noted it lays a strong foundation for future collaboration between SCIC and ADQ. Thanh emphasised SCIC's readiness to support favourable conditions for long-term cooperation between the two parties.

The MoU also contributes to strengthening bilateral relations between Vietnam and the UAE. Thanh suggested organising dedicated business forums in specific sectors to enhance bilateral cooperation further. These forums would foster connectivity, explore investment prospects, and develop joint investment mechanisms.

By leveraging expertise within its diverse portfolio, ADQ aims to be a catalyst for sustainable growth in Vietnam. The focus is on unlocking tangible value while supporting Vietnam’s long-term economic ambitions through impactful investments.

This collaboration reflects both nations' commitment to fostering economic growth through strategic partnerships. It underscores their shared vision for sustainable development across key industries.

With inputs from WAM