The Abu Dhabi Developmental Holding Company (ADQ) has partnered with the State Capital Investment Corporation (SCIC), a sovereign wealth fund owned by the Government of Vietnam. They have signed a Memorandum of Understanding aimed at creating a framework for collaboration in key sectors of mutual interest within Vietnam. This partnership seeks to identify and assess potential co-investment opportunities that align with Vietnam’s economic ambitions and strategic development goals.

Vietnam stands as the third-largest economy in Southeast Asia, trailing only Indonesia and Thailand. The nation is projected to grow by 6.5 percent in both 2025 and 2026. In October 2024, Vietnam and the UAE finalized a Comprehensive Economic Partnership Agreement, marking Vietnam’s first such agreement with a Middle Eastern country. This pact is anticipated to enhance collaboration across several vital sectors, including oil and gas, renewable energy, and agriculture.

Mohamed Hassan Alsuwaidi, who serves as the Minister of Investment and Managing Director and Group Chief Executive Officer of ADQ, emphasized that this partnership is designed to strengthen the bilateral ties between the UAE and Vietnam. He noted that ADQ is committed to investing in high-growth markets that align with its strategic investment priorities. Alsuwaidi highlighted that Vietnam’s rapidly expanding economy presents a significant opportunity for impactful investments in key sectors, aiming to unlock tangible value and support Vietnam’s long-term economic objectives.

Nguyen Chi Thanh, Chairman of State Capital Investment Corporation, described the signing of the MoU as a significant milestone. He stated that it lays a solid foundation for the partnership between SCIC and ADQ, contributing to the overall development of bilateral relations. Thanh expressed SCIC’s readiness to support and facilitate favorable conditions for long-term collaboration. He also suggested organizing dedicated business forums in specific sectors to strengthen bilateral cooperation, foster connectivity, explore investment prospects, and develop joint investment mechanisms in the near future.