ADQ, Abu Dhabi’s investment company, and State Capital Investment Corporation (SCIC), Vietnam’s state-owned investment fund, have signed a Memorandum of Understanding to establish a framework for collaboration in economic sectors.
This agreement strengthens investment ties between the United Arab Emirates (UAE) and Vietnam, aiming to increase economic growth and identify co-investment opportunities.
Vietnam’s economy continues to expand in Southeast Asia. The partnership will focus on identifying and assessing investment opportunities that align with the country’s economic goals.
The agreement follows the Comprehensive Economic Partnership Agreement (CEPA) signed in October 2024. The CEPA is expected to expand cooperation in oil and gas, renewable energy, infrastructure, and agriculture.
In 2023, trade between the UAE and Vietnam reached USD 4.7 billion, marking a 5.9 percent year-on-year increase, further cementing the UAE’s position as Vietnam’s leading trade partner in the Arab world.
In the first eight months of 2024 alone, trade exceeded USD 4.47 billion, reflecting a remarkable 45 percent surge compared to the same period in the previous year, highlighting the growing economic synergy between the two nations.
Vietnam is the third-largest economy in Southeast Asia, after Indonesia and Thailand. Growth forecasts project a 6.5% increase in GDP in both 2025 and 2026, driven by industrialization, a growing middle class, and policies designed to attract foreign direct investment.
Economic reforms, business transparency, and corporate governance improvements have strengthened its position as an investment destination.
Managing Director and Group Chief Executive Officer of ADQ, HE Mohamed Hassan Alsuwaidi says that Vietnam’s rapidly expanding economy presents a unique opportunity to drive impactful investments in key sectors of mutual interest, unlocking tangible value and supporting Vietnam’s long-term economic ambitions.
“This partnership strengthens the UAE’s economic ties with Vietnam while aligning with ADQ’s strategy to invest in high-growth markets. Vietnam’s economy presents an opportunity to drive investments across sectors. By leveraging our expertise, we aim to support development and unlock value,” says HE Alsuwaidi.
According to SCIC Chairman Nguyen Chi Thanh, the signing of the Memorandum of Understanding on investment collaboration is a significant milestone.
“This lays a solid foundation for the partnership between SCIC and ADQ in particular and contributing to the development of bilateral relations between the two nations in general. SCIC stands ready to provide support and facilitate the most favorable conditions for the two parties to pursue long-term collaboration in the future. To further strengthen bilateral cooperation, we would like both sides to come together and organize dedicated business forums in specific sectors in the coming period. These forums would help foster connectivity and partnership opportunities, explore investment prospects, and develop joint investment mechanisms,” says Thanh.
SCIC, established in 2005, manages Vietnam’s state-owned enterprises (SOEs) and oversees a portfolio of more than 110 companies across industries. The organization focuses on restructuring and modernizing SOEs, increasing efficiency, and attracting investment.
ADQ, founded in 2018, manages a global investment portfolio spanning over 130 countries. With interests in more than 25 sectors, including energy, utilities, transport, logistics, food, healthcare, and life sciences, ADQ continues to expand its presence in Southeast Asia.
