Abu Dhabi-based investment and holding company ADQ and Vietnam’s State Capital Investment Corporation, a sovereign wealth fund, have signed an initial agreement to explore investment opportunities in the Southeast Asian country.
The organisations will partner to assess potential co-investment opportunities that support Vietnam’s economic ambitions and align with its strategic development objectives, state news agency Wam reported on Saturday.
“This partnership aims to deepen the strengthening bilateral ties between the UAE and Vietnam, while also highlighting ADQ’s commitment to investing in high-growth markets that align with our strategic investment priorities,” said Mohamed Alsuwaidi, the UAE’s Minister of Investment.
“Vietnam’s rapidly expanding economy presents a unique opportunity to drive impactful investments in key sectors of mutual interest,” said Mr Alsuwaidi, who is also the managing director and group chief executive of ADQ.
Vietnam is the third-largest economy in Southeast Asia, after Indonesia and Thailand, and is projected to grow by 6.5 per cent in both 2025 and 2026, according to World Bank estimates.
In October, Vietnam and the Emirates finalised a Comprehensive Economic Partnership Agreement (Cepa), Vietnam’s first with a Middle Eastern nation, setting the stage for partnerships across key sectors, including oil and gas, renewable energy and agriculture.
As part of the deal, the UAE agreed to phase out tariffs on 99 per cent of Vietnam's exports, and Hanoi pledged to remove tariffs on 98.5 per cent of the UAE's exports.
Bilateral trade between the two countries totalled almost $4.7 billion in 2023, a 5.9 per cent increase from the previous year. In the first eight months of 2024, trade surpassed $4.47 billion, marking a 45 per cent jump compared to the same period in 2023, according to official data
“To further strengthen bilateral co-operation, we would like both sides to come together and organise dedicated business forums in specific sectors in the coming period,” said Nguyen Chi Thanh, chairman of the State Capital Investment Corporation.
“These forums would help foster connectivity and partnership opportunities, explore investment prospects, and develop joint investment mechanisms,” Mr Thanh said.
ADQ is pushing to expand its local and international portfolio of assets. With total assets worth $225 billion as of June 30, it has shareholdings in more than 25 companies across sectors including energy, utilities, food and agriculture, health care, pharmaceuticals, mobility and logistics.
Companies in its portfolio include Abu Dhabi National Energy Company - better known as Taqa- the Emirates Nuclear Energy Corporation and Abu Dhabi National Exhibitions Company (Adnec).
It has a significant asset base in transport and logistics, including Abu Dhabi Ports, Etihad Airways, Abu Dhabi Airports, Etihad Rail, Wizz Air Abu Dhabi and Abu Dhabi Aviation.
Last month, ADQ offered to fully acquire Aramex in a deal that valued the largest courier company in the Middle East at about Dh4.39 billion ($1.2 billion).
THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Company%20profile
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RESULT
Norway 1 Spain 1
Norway: King (90 4')
Spain: Niguez (47')
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Brief scoreline:
Crystal Palace 2
Milivojevic 76' (pen), Van Aanholt 88'
Huddersfield Town 0
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Chris%20Jordan%20on%20Sanchit
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Company%20profile
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HAJJAN
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Paris%20Agreement
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Three ways to get a gratitude glow
By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.
- During your morning skincare routine, name five things you are thankful for about yourself.
- As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
- In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
Read more about the coronavirus
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The specs: 2019 Subaru Forester
Price, base: Dh105,900 (Premium); Dh115,900 (Sport)
Engine: 2.5-litre four-cylinder
Transmission: Continuously variable transmission
Power: 182hp @ 5,800rpm
Torque: 239Nm @ 4,400rpm
Fuel economy, combined: 8.1L / 100km (estimated)
More from Rashmee Roshan Lall
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Killing of Qassem Suleimani
Poacher
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Racecard
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The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
TOP%2010%20MOST%20POLLUTED%20CITIES
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
