Prime Minister Pham Minh Chinh receives CEO of Mubadala Energy in Abu Dhabi: Prime Minister Pham Minh Chinh (R) receives Sheikh Mansour bin Mohammed bin Buti Al Hamed, CEO of Mubadala Energy, in Abu Dhabi on October 29. (Photo: Nhat Bac/VGP)

The Prime Minister said the relationship between Vietnam and the UAE is flourishing and built on mutual trust. He noted that the recent establishment of a Comprehensive Partnership and the signing of the Comprehensive Economic Partnership Agreement (CEPA) provide a crucial foundation for businesses of both countries to expand cooperation and investment.

He commended Mubadala's operations and effective cooperation and investment in Vietnam in recent times, and affirmed his support for its vision and commitment to responsible investment.

The Vietnamese leader urged the group to step up its investment activities and serve as a bridge for UAE investors, as well as foreign investors, to engage in Vietnam in such key areas as transport infrastructure, climate change response, digital infrastructure, urban infrastructure, industry, services; traditional energy sectors like oil and gas, and renewable energy; and emerging fields, including semiconductors, artificial intelligence (AI), cloud computing, and Internet of Things; as well as developing financial centres and free trade zones; and policy consultancy and institution building and perfection to mobilise resources, particularly through the public-private partnership.

For his part, CEO Al Hamed said the group is interested in cooperation with Vietnam, particularly in infrastructure, AI, and energy.

Mubadala's strategy is to increase investments in Asia, focusing on infrastructure, oil and gas, maritime ports, electricity, technology, and transport, he said, expressing his desire to discuss specific projects with Vietnam, particularly those with the Vietnam Oil and Gas Group.

With this commitment and eagerness, Mubadala plans to send a delegation to Vietnam in the near future with a list of proposed projects, he said.

Prime Minister Chinh highlighted the Vietnamese Government’s efforts in improving the domestic investment environment and streamlining administrative procedures, as well as its commitments to facilitating foreign investment, including that by Mubadala.