PM hosts a reception for UAE Minister of Industry and Advanced Technology

Prime Minister Pham Minh Chinh was quoted by the Vietnam News Agency as describing the potential for scientific and technological cooperation between Vietnam and the United Arab Emirates (UAE) as boundless, while receiving UAE Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber, who is also Group CEO of the Abu Dhabi National Oil Company, in Abu Dhabi on October 29 (local time).

Ample room remains for the bilateral collaboration across various sectors, particularly in energy, high-tech and artificial intelligence (AI), with opportunities for immediate implementation, the visiting PM said, expressing his hope that the UAE Ministry of Industry and Advanced Technology, businesses, the minister himself, and relevant sides will make concerted efforts to advance this cooperation.

Briefing the official on Vietnam’s oil and gas sector, the Vietnamese leader said although the country has three oil refineries, it still needs additional facilities to meet domestic demand and supply the broader Southeast Asian and Chinese markets. The PM urged UAE groups to collaborate with Vietnam in specific projects, including the construction of an oil storage facility there to serve regional distribution.

He also highlighted Vietnam's energy potential and development strategy, particularly wind and solar energy, saying it aims to meet domestic needs and export and encouraging UAE groups to collaborate with Vietnam in this sector.

In the fields of digital technology and AI, the PM said Vietnam is committed to development driven by science, technology, and innovation, and that the country is accelerating digital transformation, particularly in emerging sectors like AI, cloud computing, and the Internet of Things, with major technology firms such as FPT and Viettel expanding globally.

Additionally, Vietnam has established a National Innovation Centre and is actively promoting the growth of the semiconductor industry, aiming to train 50,000 engineers for this sector, the PM continued.

He highlighted Vietnam's ongoing efforts to perfect institutional and legal frameworks to facilitate foreign investment, including regulations related to the electricity sector, and called on UAE firms to connect and engage with their Vietnamese counterparts to advance specific cooperation projects.

For his part, Minister Sultan bin Ahmed Al Jaber stressed the importance of the Vietnam-UAE relations to prosperity of each country and the region.

Reflecting on the freshly-signed the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA), the minister and his team expressed a strong desire to enhance cooperation with Vietnam across various sectors, especially energy development, including oil refinery, LNG, and renewable energy projects.

The host and the guest also expressed interest in establishing a warehousing hub in Vietnam to meet regional product demand, highlighted the UAE’s capabilities in high-tech and AI, and suggested the two sides establish contact points to facilitate cooperation in the proposed areas.

PM Chinh held that the interest of UAE ministries, sectors, and businesses in investing in Vietnam as well as their collaboration is timely to put in place the CEPA.