ADQ, Vietnam’s SCIC to explore investment opportunities

Abu Dhabi’s ADQ and Vietnam’s State Capital Investment Corporation (SCIC) recently signed a memorandum of understanding (MoU) to collaborate on investment opportunities in key sectors, as both nations seek to deepen economic ties.

The agreement establishes a framework for co-investment in sectors that align with Vietnam’s economic development strategy.

The Southeast Asian nation, the third-largest economy in the region after Indonesia and Thailand, is projected to grow by 6.5 per cent in both 2025 and 2026.

The MoU follows the comprehensive economic partnership agreement (CEPA) finalised in October 2024 between Vietnam and the UAE, the first such agreement Vietnam has signed with a Middle Eastern nation.

The pact is expected to enhance collaboration in sectors such as oil and gas, renewable energy, and agriculture.

ADQ-SCIC: Strengthening UAE-Vietnam bilateral ties

“This partnership aims to deepen the 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 Hassan Alsuwaidi, MD and group CEO of ADQ. “Vietnam’s rapidly expanding economy presents a unique opportunity to drive impactful investments in key sectors of mutual interest.”

Trade between the UAE and Vietnam reached $4.7bn in 2023, a 5.9 per cent increase year-on-year.

In the first eight months of 2024 alone, trade exceeded $4.47bn, marking a 45 per cent surge compared to the same period in the previous year, underscoring the strengthening economic partnership between the two nations.

SCIC chairman Nguyen Chi Thanh called the MoU a “significant milestone”, adding that the agreement would strengthen economic cooperation between the two nations.

“SCIC stands ready to provide support and facilitate the most favourable conditions for the two parties to pursue long-term collaboration,” he said, suggesting the organisation of business forums to explore investment prospects and develop joint investment mechanisms.

Founded in 2005, SCIC manages a portfolio of over 110 state-owned enterprises across various industries.

It plays a key role in improving the competitiveness and efficiency of state-backed companies while executing strategic investments to drive sustainable economic growth.

ADQ, established in 2018, manages a portfolio of over 25 companies operating in more than 130 countries.

Its investments span key sectors, including energy, utilities, transport, logistics, food, agriculture, healthcare and life sciences.

The Abu Dhabi-based sovereign investor has formed strategic alliances with governments worldwide and has facilitated market expansion for its portfolio companies in countries such as Egypt, Turkey, Greece, Oman, and Jordan.