(MPI) - Deputy Minister of Planning and Investment Tran Duy Dong and Ambassador of the United Arab Emirates (UAE) to Vietnam Bader Almatrooshi hold a working session in Hanoi on July 28 to highlight cooperation prospects between the two countries, as well as preparation for the inauguration of the Vietnam National Innovation Centre (NIC) and Vietnam International Innovation EXPO 2023 scheduled in October 2023.

Deputy Minister of Planning and Investment Tran Duy Dong (right) and UAE Ambassdor to Vietnam Bader Almatrooshi. Photo: MPI

Deputy Minister Dong spoke highly of the thriving relations between Vietnam and the UAE in recent years, especially the two countries celebrate the 30th anniversary of diplomatic ties in 2023 and officially start negotiations on the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA). The agreement will provide the necessary foundations for the two sides to promote future cooperation.

Two-way trade between Vietnam and the UAE reached nearly 8 billion USD last year, but there remains room for stronger cooperation in some promising fields such as renewable energy, tourism, finance, and innovation. Deputy Minister Dong hoped for continued coordination of the ambassador to further deepen the investment cooperation between the sides in above mentioned areas.

He proposed that the UAE Embassy help NIC to connect with energy labs and corporations, and with the Mohammed Bin Rashid Innovation Fund and Khalifa Fund for Enterprise Development to support the development of startups and small and medium-sized enterprises, and encourage businesses, investment funds, innovation organisations of the UAE to set up offices at the NIC.

Agreeing with Deputy Minister Dong’ proposals,  Almatrooshi said that the UAE and Vietnam enjoy growing relations in recent times, clearly proven by the exchange of high-level delegations between the two countries. The UAE views Vietnam an important partner and wishes to lift its ties in all spheres, in economy, culture, trade and investment.

Almatrooshi thanked the Vietnamese Government, including the MPI, for supporting activities and operation of the UAE enterprises operating here, adding that they always wish to invest in the Southeast Asia nation. He hoped that Vietnam will have visa exemption for UAE passport holders and support UAE firms to successfully carry out investment projects.

Regarding cooperation in innovation, the ambassador stressed that this is an important task that need the participation of both Government and enterprises. He noted his willingness to work and share experiences with Vietnam in the field./.

Bao Linh

Ministry of Planning and Investment