During an official visit to the United Arab Emirates (UAE), Vietnamese Prime Minister Pham Minh Chinh witnessed the signing of Memoranda of Understanding (MOUs) between Vingroup, VinFast, and prominent partners in the Middle East. These agreements focus on strategic sectors, including maritime development, shipyard capabilities, sustainable coastal land use, digital transformation, and collaboration in electric vehicles and green transportation. The simultaneous signing with four major corporations not only strengthens business ties between Vietnam and the UAE but also reaffirms Vingroup’s established position in key investment areas.
At the Vietnam-UAE Business Forum, Vingroup signed MOUs with three partners: AD Ports Group, NMDC, and Benya Technologies, while VinFast entered into an agreement with Emirates Driving Company (EDC). The partnerships concentrate on four key areas.
In maritime logistics, AD Ports Group, a leading port management and logistics firm in the UAE, will explore opportunities to collaborate with Vingroup on developing shipyard capabilities, logistics ecosystems, and seaport operations, aiming to modernize logistics and manufacturing in Vietnam. Under this MOU, Vingroup will evaluate potential projects for development, oversee construction, provide essential infrastructure, and partner with local entities, while AD Ports Group will manage operational aspects and connect with international clients.
For sustainable coastal land development, Vingroup and NMDC, a leader in coastal infrastructure, will investigate cooperation on projects like reclaiming 150 million cubic meters of coastal land for urban development and large-scale coastal reclamation for industrial and real estate purposes. Vingroup will lead in developing high-end real estate projects, while NMDC will supply advanced technical solutions to enhance sustainability and protect marine ecosystems. These initiatives are expected to generate thousands of local jobs, stimulate economic growth in coastal regions, and significantly contribute to Vietnam’s coastal tourism and services sectors.
In digital transformation, Vingroup and Benya Technologies, representing investors from the Middle East and Africa, will explore investment opportunities for projects such as a hyper-scale data center and related infrastructure, with an estimated total investment of $3.5 billion. This data center will be developed in three phases, aiming for a capacity of 300 MW to meet both domestic and international digital infrastructure needs, thereby contributing to local economic development.
Additionally, VinFast, a subsidiary of Vingroup, signed an MOU with EDC, Abu Dhabi’s leading driver training and road safety institute, focusing on electric vehicles, driver training in Vietnam, and investment to bolster Abu Dhabi’s industrial sector. EDC will lead a consortium investing in VinFast, providing funding and expertise in driver training and road safety, which will support the creation of a comprehensive electric vehicle ecosystem. This partnership seeks to enhance global electric vehicle production, meet rising demand for green transportation, improve road safety awareness, and reaffirm EDC’s commitment to the Middle East’s green transportation initiatives.
The four areas of collaboration established through the MOUs leverage Vietnam’s strengths in its marine economy and Vingroup’s expertise in urban development, tourism, logistics, technology, and industry. These favorable conditions set a strong foundation for the successful implementation of the agreements, fostering lasting connections between businesses in both nations.
