During the meeting with Deputy Prime Minister Al Maktoum, Permanent Deputy Prime Minister Nguyen Hoa Binh thanked Deputy Prime Minister Al Maktoum and UAE leaders for the warm and respectful reception for the delegation; expressed his admiration for the development achievements of the UAE in general and Dubai in particular, especially in developing the financial market with two leading financial centers in the region and the world , the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Center (DIFC).
Deputy Prime Minister Al Maktoum welcomed the visit of Permanent Deputy Prime Minister Nguyen Hoa Binh, highly appreciated Vietnam's efforts and affirmed his readiness to share experiences and support Vietnam in building the International Finance Centre (IFC).
The two Deputy Prime Ministers discussed the socio-economic development situation of each country; welcomed the positive developments in the first year after the two countries established the Comprehensive Partnership; and affirmed their determination to create breakthroughs for bilateral relations in the coming period in all fields. The two sides agreed to continue to coordinate to strongly implement the commitments between the two countries' senior leaders during the official visit to the UAE by Vietnamese Prime Minister Pham Minh Chinh in October 2024.
On this occasion, Permanent Deputy Prime Minister Nguyen Hoa Binh conveyed the invitation of the Vietnamese senior leaders to the UAE President and Prime Minister to visit Vietnam soon. Permanent Deputy Prime Minister Nguyen Hoa Binh also respectfully invited UAE Deputy Prime Minister Al Maktoum to arrange a visit to Vietnam at a suitable time.
The UAE Deputy Prime Minister affirmed that he will push to quickly complete the approval procedures for the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the UAE, thereby continuing to strongly promote trade exchanges and achieving the goal of raising bilateral turnover to 20 billion USD in the shortest time. The UAE side shared that Emirates Airlines is currently operating 25 flights per week to Vietnam, expressing the hope that Vietnam will have a more favorable visa policy for UAE citizens, businessmen and investors to explore the Vietnamese market.
The two sides agreed to effectively implement the Memorandums of Understanding recently signed between ADGM and the People's Committees of Ho Chi Minh City and Da Nang City; increase experience sharing in building a synchronous ecosystem in attracting international capital, legal tools, supporting human resource training for Vietnam... to improve financial services at IFC. Vietnam welcomes and commits to creating favorable conditions for UAE investors and financial institutions to invest in Vietnam. The two Deputy Prime Ministers welcomed businesses of the two countries that are initially exploring mutual investment opportunities. The two sides agreed to actively coordinate to successfully organize the UAE - Vietnam Investment Conference in Vietnam in early 2026.
At the meeting with UAE Minister of Cabinet Affairs Al Gergawi, Permanent Deputy Prime Minister Nguyen Hoa Binh expressed his hope to hear the Minister's recommendations on how to innovate and the key factors for Vietnam to successfully implement the International Financial Centre. Sharing his experience in establishing DIFC, Minister Al Gergawi said the success comes from creating distinct advantages, establishing an independent executive body, building a unique legal framework and attracting the world's leading financial institutions.
Mr. Al Gergawi added that the most important factor is ensuring safety, transparency, along with the ability to respond quickly to policies to adapt to a volatile world. Minister Al Gergawi said that Vietnam needs to clearly identify its development segment, competitors, as well as its position on the "global financial chessboard". Mr. Al Gergawi emphasized that inviting the world's leading financial institutions to participate from the very beginning will be decisive. He affirmed that speed is the key to the UAE's success, because in a rapidly changing world, policies and mechanisms must also be flexible and timely.
Deputy Prime Minister Nguyen Hoa Binh affirmed that Vietnam attaches great importance to learning from the UAE’s experience in institutional reform and IFC development. The two sides agreed to continue to maintain policy exchanges, share governance experiences and enhance connectivity between the two countries’ financial centers, contributing to making Vietnam and the UAE a financial bridge between the Association of Southeast Asian Nations (ASEAN), the Gulf Cooperation Council (GCC) and the world.
During a meeting with Minister of Artificial Intelligence Al Olama, Permanent Deputy Prime Minister Nguyen Hoa Binh said that Vietnam is willing to learn from the UAE’s experience in creating attractive working conditions for the financial and technological elite, affirming that the young generation of Vietnam is a core force, full of aspirations, and capable of accessing new technology to promote the country’s rapid and sustainable development.
Minister Al Olama highly appreciated Vietnam's orientation in developing the digital economy, digital transformation and building the IFC. Mr. Al Olama shared that modern financial centers are not only places for capital transactions but are increasingly becoming centers of technology and artificial intelligence (AI), attracting the global elite from businesses, scientists, engineers to management experts. Mr. Al Olama said that if Vietnam goes in the right direction, Vietnam's IFC can absolutely become a new and potential destination.
Within the framework of the activities in the UAE, Permanent Deputy Prime Minister Nguyen Hoa Binh also worked with Mr. Essa Kazim, Governor of DIFC; Mr. Ali Al Amine, Senior Vice President of G42 Group; as well as leaders of Bybit, Binance and Emaar, which are leading corporations and companies in the fields of digital assets and real estate. At the meetings, Permanent Deputy Prime Minister Nguyen Hoa Binh said that one of the key objectives of this working group is to research and develop an International Financial Center, and at the same time, asked G42 to support the construction of a digital platform to serve the operation of the International Financial Center in Vietnam in the future.
G42 representatives expressed their desire to continue to discuss and work in detail with relevant ministries and sectors of Vietnam on the IFC project. DIFC leaders shared their experiences on the IFC governance, construction and operation model, and recommended that for IFC to be successful, special attention should be paid to two key factors, including soft infrastructure with a legal system that meets international standards and practices, creating trust for investors; and an independent judiciary to ensure transparency and stability.
In addition, IFFC needs to have a commercial service ecosystem, accompanying support, along with the ability to issue its own regulations to suit operational practices. Deputy Prime Minister Nguyen Hoa Binh highly appreciated DIFC's valuable experiences and suggested that DIFC continue to share practical experiences so that Vietnam can effectively implement the National Assembly's Resolution on the International Financial Center in Ho Chi Minh City and Da Nang.
On this occasion, Permanent Deputy Prime Minister Nguyen Hoa Binh witnessed the signing ceremony of the Memorandum of Understanding on cooperation in developing blockchain technology and digital assets between Binance and the People's Committee of Da Nang City.
Source: https://baotintuc.vn/thoi-su/pho-thu-tuong-thuong-truc-chinh-phu-nguyen-hoa-binh-tiep-cac-quan-chuc-va-lang-dao-doanh-nghiep-uae-20250925201050451.htm
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