Vietnam seeks Abu Dhabi expertise for international financial center
The Prime Minister pushed for the Abu Dhabi-HCMC financial center deal and urged stronger diplomacy, FTA talks, and support for key export industries.
THE HANOI TIMES — Prime Minister Pham Minh Chinh urged authorities in Ho Chi Minh City to speed up negotiations and sign an agreement with Abu Dhabi on the development of an international financial center.
This was one of the key tasks he assigned to heads of Vietnam’s overseas missions at an online conference on July 22, which also covered a request to examine the Astana International Financial Center (AIFC) model in Kazakhstan and implement the memorandum of understanding (MOU) signed between Danang and the Singaporean consortium of Terne Holdings and The One Destination for the development of an international financial center in the central coastal city.
Vietnam has sought Abu Dhabi's support in developing Vietnam’s international financial centers during Prime Minister Pham Minh Chinh's visit to the UAE, with a focus on policy frameworks, joint investment and leveraging the experience of Dubai and Abu Dhabi.
At the meeting on July 22, the prime minister also called for faster free trade agreement (FTA) talks with the Gulf Cooperation Council (GCC), Mercosur, Brazil, and Bangladesh, as well as trade deals with Pakistan and rice pacts and cross-border rail projects.
He emphasized supporting key Vietnamese manufacturing sectors to boost exports and global supply chain integration, while highlighting the importance of high-level diplomacy and flexible, multi-sector engagement.
Prime Minister Chinh urged a dual focus on revitalizing traditional growth drivers and advancing new economic engines, swiftly addressing investment barriers, and called on diplomats to proactively monitor developments, propose initiatives, and enhance cooperation to navigate foreign relations effectively.
The meeting focused on how to advance economic diplomacy to achieve the target GDP growth of 8.3%-8.5% in 2025 and lay the groundwork for double-digit growth in subsequent years.
In early 2025, vibrant, high-level diplomacy strengthened trusted, mutually beneficial ties with other countries and deepened economic cooperation. Over 200 agreements were signed, doubling 2024's figure, and strategic ties were upgraded with ten countries.
