During his official visit to the United Arab Emirates (UAE), Prime Minister of Vietnam, Pham Minh Chinh engaged with leaders from four of the UAE's leading corporations specializing in infrastructure, ports, logistics, industrial zones, transportation, and strategic consulting. Acknowledging Vietnam as a promising destination in Southeast Asia, the UAE business leaders expressed their interest in investing in Vietnam, particularly in the logistics and port sectors, which they view as having significant growth.
Vietnam Prime Minister Chinh highlighted the country’s three strategic breakthroughs in institutions, infrastructure, and human resources, including major advancements in infrastructure like port systems, airports, high-speed rail, and highways.
He encouraged UAE corporations to explore and increase cooperation and investment in these areas. He noted that Vietnam’s 3,000 km coastline occupies a strategic position, making ports one of its key strengths. Vietnam is currently developing major ports in the northern, central, and southern regions, such as Lach Huyen, Lien Chieu, Can Gio, and Cai Mep-Thi Vai, aiming to position itself as a global transshipment hub.
Additionally, Prime Minister Chinh invited UAE businesses to invest in digital transformation, green transition, science and technology, innovation, the green economy, the circular economy, the knowledge economy, and cloud computing.
Encouraging UAE enterprises to collaborate and invest in Vietnam, the Prime Minister committed to implementing breakthrough policies to attract foreign investment as a new growth driver. Vietnam is also establishing an investment fund to support foreign investors and improve the investment environment for more favorable conditions.
"The spirit is clear: institutions must be open, infrastructure seamless, and governance smart", the Vietnam Prime Minister emphasized.
Later that afternoon, Prime Minister Chinh met with M.A. Yusuff Ali, Chairman of Lulu Group, a global supermarket chain conglomerate. Chairman M.A. Yusuff Ali praised Vietnam's impressive economic achievements, especially in exports, and proposed expanding Lulu's market presence in Vietnam. He also expressed interest in government and ministerial support.
Lulu Group has established a representative office in Ho Chi Minh City to source Vietnamese products for its supermarket network. The group plans to partner with the Vietnamese Embassy to organize events promoting Vietnamese agricultural products in the Middle East.
Vietnam’s international integration is deep and comprehensive, with 19 free trade agreements (FTAs) signed with over 60 countries, 16 of which are in effect. During this UAE visit, Vietnam is set to announce a Comprehensive Partnership Agreement with the UAE, including next-generation FTAs like RCEP and CPTPP.
In light of these advantages, the Prime Minister urged Lulu Group to further promote Vietnamese products with strong potential and consumer appeal throughout the UAE, the Middle East, and other markets within Lulu's global supermarket network. He also encouraged Lulu Group to facilitate Vietnamese businesses' participation in the Halal supply chain, explore investment opportunities, and collaborate with capable Vietnamese partners to process agricultural products and establish a supermarket chain in Vietnam, targeting a market of over 100 million consumers.