Abu Dhabi port regulator and operator AD Ports Group partnered with the Vietnam Maritime Administration (Vinamarine) on 3 December, to bolster maritime operations and strengthen bilateral ties between the UAE and Vietnam.
The two parties signed a memorandum of understanding (MoU) developing a partnership focused on ports, logistics, digital solutions and shipping. The MoU stressed a focus on dry ports and inland containers.
According to AD Ports, the two companies will further collaborate on projects in economic cities and free zones.Don’t miss our coverage of COP28! Subscribe here for exclusive insights & analysis.
Mohamed Eidha Al Menhali, regional CEO of AD Ports Group, emphasised how the MoU aligns with the company’s goals of international collaboration.
Menhali said: “Our combined efforts would not only enhance the maritime and logistics sectors in both countries but also create avenues for sustainable growth and development in line with both nations’ economic diversification goals.
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“We are committed to sharing our expertise and resources to unlock new opportunities, fostering a mutual path of prosperity.”
This agreement aims to further strengthen the bilateral ties which have witnessed the expansion of trade and investment exchanges over recent years.
Both nations have expressed a desire to strengthen cooperation and open up new opportunities for the private sector in a variety of economic and trade sectors.
According to AD Ports this collaboration falls in line with the “We the UAE 2031” vision, which aims to increase the value of UAE foreign trade to AED4tn (US$1tn) and increase non-oil exports to AED800bn (US$$217bn).
With 39% of all commerce with Arab nations, the UAE became Vietnam’s biggest commercial partner in the Arab region as of 2022.
This partnership follows recent AD Port Group expansions across Asia, on 26 November 2023, AD Ports signed an agreement to expand into Kazakhstan oil operations.