PM highlights potential for scientific, technological cooperation with UAE

The Vietnamese cabinet leader used the occasion to highlight the ample room that exists for further bilateral collaboration across multiple sectors, particularly in energy, high-tech, and artificial intelligence (AI), with opportunities existing for immediate implementation, the visiting leader said. He went on to add his hope that the UAE Ministry of Industry and Advanced Technology, businesses, the Minister himself, and relevant sides will step up joint efforts in a bid to further boost ties.

Briefing the official on the Vietnamese oil and gas sector, PM Chinh said that although the country only has three oil refineries, it still needs additional facilities to meet domestic demand and supply the broader Southeast Asian and Chinese markets. He therefore asked UAE groups to collaborate with the country in specific projects, including the construction of an oil storage facility to the cause of serve regional distribution.

He also underlined Vietnamese energy potential and development strategy, particularly wind and solar energy, saying that the nation aims to meet domestic needs, export goods, whilst encouraging UAE groups to collaborate with Vietnam in this sector.

Regarding digital technology and AI, the Government chief said that the nation is committed to development driven by science, technology, and innovation, with the the country accelerating digital transformation, particularly in emerging sectors like AI, cloud computing, and the Internet of Things. This is being done with major technology firms such as FPT and Viettel expanding globally.

The country has since established a National Innovation Centre and is actively boosting the growth of the semiconductor industry, aiming to train 50,000 engineers for this sector, the PM continued.

He laid stress on ongoing Vietnamese efforts to fine-tune institutional and legal frameworks to facilitate foreign investment, including regulations related to the electricity sector, and called on UAE firms to connect and engage with their Vietnamese counterparts to advance specific co-operation projects.

Praising the achievements and the establishment of the UAE Ministry of Industry and Advanced Technology in line with the development trend of the UAE and the world in general, PM Chinh said that the interest of UAE ministries, sectors, and businesses in investing in the Vietnamese market, as well as their collaboration, is timely to put the freshly-signed CEPA in place.

In response, UAE Minister Sultan bin Ahmed Al Jaber emphasized the importance of the joints ties to prosperity of each nation and the region.

Concerning the freshly-signed the Vietnam-UAE Comprehensive Economic Partnership Agreement, the Minister and his team expressed a strong desire to augment co-operation with Vietnam across various sectors, especially energy development, including oil refinery, LNG, and renewable energy projects.

They also showed a keen interest in setting up a warehousing hub in the country to meet regional product demand, highlighting the UAE’s capabilities in high-tech and A  and suggesting that both sides establish contact points to facilitate cooperation in the proposed areas.