(MPI) - Minister of Planning and Investment Nguyen Chi Dung hosted a reception for visiting Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5.

At the reception. Photo: MPI

Minister Dung welcomed the UAE Minister of State with many enterprises and investment funds to visit Vietnam, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023.

He noted with pleasure the two countries’ friendship and cooperation have been flourishing in various spheres, including politics, diplomacy, trade and investment, with two-way trade reached over 4.4 billion USD and the UAE’s investment in Vietnam is estimated at 71 million USD.

However, he said huge room remains for the Vietnam-UAE partnership to grow further, especially in trade and investment. The minister suggested the UAE work closely with Vietnamese side to soon finalise negotiation for the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the UAE, providing a foundation to boost  economic, trade and investment cooperation.

The official acknowledged the UAE’s economic transition efforts, from oil and gas extraction to developing the service sectors, adding the Vietnam wishes to learn experience from the Middle East country is this area.

At the meeting, the UAE Minister of State Thani bin Ahmed Al Zeyoudi expressed his impression of Vietnam’s achievement over the past time, and held that  the two countries share many similarities, particularly in development orientations and the size of their economies.

Vietnam is one of the most important partners of the UAE in the region, he stated, adding that many UAE enterprises and investment funds have also come to seek for cooperation opportunities.

The UAE firms in such fields as oil and gas, renewable energy, and logistics affirmed their willingness to fully tap the potentials and expand business in Vietnam. With its dynamic market and having high chances in developing new industries, they hope to continue promoting collaboration that match each strengths and development orientation.

Minister Dung said, Vietnam encourages enterprises and investment funds of the UAE to invest in the areas matching both sides’ interests such as energy, renewable energy, logistics, infrastructure, calling on the UAE to help Vietnam develop seaports and build Ho Chi Minh city as a financial centres.

Vietnam always looks forward to strengthening the multifaceted cooperation with the UAE in the spirit of complementing each other, he noted, suggesting the UAE views Vietnam as a bridge linking it with ASEAN and vice versa, acting as a gateway for Vietnam to enter Middle Eastern markets.

The Vietnamese Government and the Ministry of Planning and Investment is committed to accompanying and creating all possible conditions for foreign investors, including those from the UAE, to do business successful and long-term in the country, he went on./.

Bao Linh

Ministry of Planning and Investment