Vietnam seeks UAE's assistance in building financial centers

At a meeting with the host country’s Minister of Investment Mohammed Bin Hassan Al Suwaidi in Abu Dhabi on October 28, as part of his official visit to the United Arab Emirates (UAE), Prime Minister Pham Minh Chinh has called on the UAE to assist Vietnam in building financial centers in Ho Chi Minh City and Da Nang, according to a report from the Government News.

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

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

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

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

He informed the minister that Vietnam 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 Vietnam in these domains.

Mr. Suwaidi said the UAE stands ready to share experience with and assist Vietnam in building financial centers, promising to instruct UAE's business giants to conduct strategic projects in Vietnam.