Attending the signing ceremony were VAFIE chairman Dr. Nguyen Anh Tuan and ABC chairman Bassam Tabajah, along with international investors active in the fields of real estate, construction, and agriculture.

The event also welcomed several distinguished guests, including Ho Quang Loi, vice president of the Vietnam Digital Communications Association; Pham Quoc Toan, vice chairman of the Vietnam Environmentally Friendly Product Manufacturers Association; and Nguyen Thi Minh Hang, chairwoman and CEO of MHGroup, which played an active bridging role among the parties.

Under the MoU, the two sides will enhance information exchange, improve mutual understanding of the investment environment, policies, and legal frameworks, and promote trade and investment cooperation opportunities between Vietnam and the Arab business community. They also agreed to coordinate in organizing cooperation promotion activities in the coming period.

VAFIE and the Arab Business Council sign a Memorandum of Understanding to promote investment connectivity, trade, and economic cooperation in Hanoi. Photo by The Investor/Dinh Vu.

Speaking at the ceremony, Dr. Tuan stressed the special significance of formally establishing a long-term cooperation framework between the two sides.

According to him, Vietnam is entering a new development phase with high growth targets, which requires effective mobilization of international resources, particularly from partners with strong financial capacity and experience like those from the Arab region.

“Vietnam is currently prioritizing investment attraction in key sectors including manufacturing and processing industries, infrastructure development, energy transition, and renewable energy,” he noted.

Following the signing ceremony, VAFIE will promptly coordinate with partners to implement specific cooperation contents, ensuring “decisiveness and efficiency,” with the goal of translating commitments into concrete projects and tangible capital flows, Dr. Tuan added.

Sharing his views at the event, Bassam Tabajah said that investors will bring external resources to Vietnam while the Southeast Asian country will connect, select, and arrange suitable projects.

The investment strategy will be implemented in phases, beginning with pilot projects to assess effectiveness before scaling up, he said, emphasizing the need for clear and transparent project information, including total investment capital, implementation timelines, and expected returns.

Bassam Tabajah said he highly appreciates the bridging role of MHGroup, a member of VAFIE, and expressed confidence in Vietnam’s development potential following working sessions with local authorities and field surveys in several provinces and cities.

Addressing the ceremony, Nguyen Thi Minh Hang, chairwoman and CEO of MHGroup, reaffirmed her commitment to accompanying VAFIE in promoting investment capital flows from the Arab region into Vietnam in the near future.

According to her, following working sessions in Hanoi and with the Ministry of Finance, the ABC delegation will continue site surveys in the northern province of Quang Ninh and Ho Chi Minh City, and hold meetings with major corporations, with the aim of simultaneously launching cooperation programs starting from March.

Beyond general orientations, many concrete cooperation proposals were put forward at the event, including introducing products and initiatives from Arab entrepreneurs into the Vietnamese market, as well as opening opportunities for Vietnamese workers to work in the Arab region.

The VAFIE representative stated that in the coming period, the association will compile a list of large-scale projects in infrastructure, real estate, and worker housing to introduce to investors. For labor export activities in construction, agriculture, and elderly care, VAFIE will connect with reputable enterprises so that both sides can continue detailed discussions.

The MoU signing, together with the plans and proposals agreed upon at the event, is expected to soon generate effective cooperation projects, contributing to Vietnam’s economic development and strengthening relations with the Arab business community in the time ahead.