ABU DHABI – Vietnam is actively seeking expertise and investment from the United Arab Emirates (UAE) to build its own international financial centers (IFCs), a key objective highlighted during an official visit by Vietnamese Deputy Prime Minister Truong Hoa Binh. The high-level discussions in Abu Dhabi culminated in the signing of strategic agreements and a commitment to bolster bilateral economic ties.
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| Deputy PM Nguyễn Hòa Bình meets with Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Global Market, on Tuesday. — VNA/VNS Photo Nguyễn Trường |
During his visit on Tuesday, the Deputy Prime Minister engaged with top Emirati officials, including the UAE's Minister of Investment and the Chairman of the Abu Dhabi Global Market (ADGM), to lay the groundwork for a new phase of cooperation.
Strengthening a Comprehensive Partnership
In a meeting with Mohamed Hassan Al Suwaidi, the UAE's Minister of Investment and CEO & Managing Director of ADQ, Deputy Prime Minister Binh praised the UAE's remarkable achievements in becoming a leading regional investment hub. He emphasized Vietnam's desire to further enhance its multifaceted cooperation with the UAE, which stands as Vietnam's sole Comprehensive Partner in the Middle East.
Minister Al Suwaidi expressed his hope for the swift signing of the UAE-Vietnam Investment Protection Agreement, which would create a favorable legal framework for bilateral business activities. The two sides agreed to schedule an investment promotion conference in Vietnam to announce concrete cooperation outcomes and to establish a Vietnam Business Council in the UAE to create a direct channel between their respective business communities.
Cooperation in green energy, aligned with sustainable development goals, was also highlighted. When DPM Binh requested UAE support for Vietnam's IFC development, Minister Al Suwaidi affirmed his full backing and readiness to share valuable experience.
Learning from the Abu Dhabi Global Market (ADGM) Model
Later in the day, DPM Binh met with Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Global Market (ADGM), one of the world's most attractive and successful financial centers. Congratulating ADGM on its achievements since its establishment in 2015, the Deputy Prime Minister sought expert guidance on building Vietnam's own IFCs.
The ADGM Chairman outlined three key factors for a successful IFC:
Legal Independence: The center must have its own autonomous legal framework.
Stable and Reliable Policies: Investors require predictability and trustworthiness.
Efficient Investor Support: Streamlined processes are essential to facilitate business.
Mr. Al Zaabi also stressed the importance of attracting major partners, assessing investor needs, promoting Vietnam's IFCs internationally, and focusing on human resource development. He noted that the UAE's strategic location, the success of its two major IFCs, and a core value of trust—bolstered by significant incentives for talent, businesses, and international funds—were critical to its success.
MoUs Signed to Pave the Way for Vietnam's IFCs
Highlighting Vietnam's significant investment needs in infrastructure, energy, the digital economy, and the green transition, the Deputy Prime Minister welcomed ADGM's support in introducing international investors to Vietnam. To that end, the two sides agreed to organize an investment promotion event in the UAE in early 2026.
The visit was marked by a significant ceremony where DPM Binh witnessed the signing of Memorandums of Understanding between ADGM and the People's Committees of Ho Chi Minh City and Da Nang regarding the development of their respective IFCs.
The Deputy Prime Minister also affirmed the Vietnamese government's commitment to finalizing the legal framework for its IFCs, which are designed to operate independently from state agencies, and expressed a desire for comprehensive cooperation with ADGM.
The DPM's packed agenda continues on September 24-25, with scheduled meetings with UAE Deputy Prime Minister and Minister of Finance Maktoum Bin Mohammed Bin Rashid Al Maktoum, who is also the President of the Dubai International Financial Centre (DIFC), along with other cabinet ministers and leaders of major UAE corporations.
