Page 215 - MOE ENGLISH PR REPORT - OCTOBER 2024

investment opportunities, supporting growth, diversification, and solidifying our position as a global
hub for trade and investment."

Suhail bin Mohammed Faraj Al Mazrouei, Minister of Energy and Infrastructure, stated: “The
Comprehensive Economic Partnership Agreement with Vietnam opens new horizons for joint
cooperation in the energy and infrastructure sectors, which are key sectors for long-term
development for both countries. Vietnam’s growing renewable energy sector offers significant
opportunities for UAE expertise and investments, as in 2023, the country produced 69% of the total
solar and wind energy generated by ASEAN nations, highlighting its importance for the region's
energy transition ambitions.”

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: “The
Comprehensive Economic Partnership Agreement between the UAE and Vietnam aligns with the
UAE leadership’s vision of enhancing communication and cooperation and expanding global
partnerships. It contributes to economic diversification and growth, expanding the UAE’s network of
trade and investment partners worldwide. This agreement also enhances the access of UAE
industrial exports to Vietnam and ASEAN countries, which consist of 10 nations, supporting the
goals of the National Strategy for Industry and Advanced Technology, Operation 300bn.”

Abdulla Bin Touq Al Marri, Minister of Economy, said: "The UAE and Southeast Asia share many
common interests. We understand the role of trade in economic prosperity, the transformative
power of technology, and the importance of expanding the services sector as a key to growth and
economic resilience. Through the Comprehensive Economic Partnership Agreement with Vietnam,
our largest trading partner in the region, we can strengthen alignment between our economies and
seize new opportunities in priority industries, from food security to manufacturing and logistics.
With Vietnam’s GDP reaching $470 billion this year and its annual growth projected at 6% for 2025
and beyond, the Southeast Asian country offers significant potential for our exporters and investors
– and this agreement aims to establish platforms and pathways to unlock that potential."
Mohamed Hassan Al Suwaidi, Minister of Investment, said: “The Comprehensive Economic
Partnership Agreement between the UAE and Vietnam marks the beginning of a new era in
investment relations between the two countries. Vietnam’s rapid economic growth and strategic
location in Southeast Asia make it an ideal destination for UAE capital, especially as we seek
impactful opportunities in sectors such as infrastructure, industry, and logistics. By identifying
growth-focused partners and securing mutually beneficial deals, the UAE’s Comprehensive
Economic Partnership Programme helps expand our global investment portfolio and strengthens
our position as a leading hub for foreign direct investment.”

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment, stated: “The
Comprehensive Economic Partnership Agreement between the UAE and Vietnam represents a
significant opportunity for both sides to collaborate on climate change, food security, and
environmental sustainability. Vietnam's robust agricultural sector, especially in rice, cashew,
coconut, spices, and dairy, coupled with the UAE's extensive global trade network, positions us to
address global food security challenges. Together, we will foster sustainable agriculture, optimise
food supply chains, and mitigate climate change impacts.”

https://www.wam.ae/en/article/b5wsody-uae-vietnam-cepa-marks-substantial-advancement