Vietnamese Prime Minister Pham Minh Chinh meets with the UAE Minister of Investment Mohammed Bin Hassan Al Suwaidi in Abu Dhabi, October 28, 2024. Photo: VGP

Pham made the call during his meeting with the UAE Minister of Investment Mohammed Bin Hassan Al Suwaidi in Abu Dhabi on October 28.

Specifically, he suggested the UAE to help Viet Nam formulate a policy framework and development models of these financial centers.

The Prime Minister urged the UAE to boost investments in Viet Nam as the Middle East country only ranks 52^nd out of 144 countries and territories investing in Viet Nam with total registered capital of US$74.1 million.

Pham also called on the UAE's investment funds to assist Viet Nam in mobilizing financial resources, especially green finance to realize sustainable development goals towards green growth.

Viet Nam and the UAE are expected to upgrade bilateral ties and sign a comprehensive economic partnership agreement (CEPA) in the coming days, said Pham.

He informed the minister that Viet Nam gives priority to luring foreign investments in the fields of high-technology, electronics, semiconductor chip, innovation, artificial intelligence, cloud computing, and internet of things, calling on the UAE to launch strong and comprehensive cooperation with Viet Nam in these domains.

Suwaidi said the UAE stands ready to share experience with and assist Viet Nam in building financial centers, promising to instruct UAE's business giants to conduct strategic projects in the Southeast Asian nation.