Thursday, 23 May 2019
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UAE’s wealth fund IDC plans large-scale resort project in Vietnam

Updated at Monday, 25 Mar 2019, 16:25
The Hanoitimes - UAE has high demand for foreign workers and seeks cooperation in taking Vietnamese people to work in UAE, especially in the fields of tourism and hospitality, the governmental portal reported.
UAE’s sovereign wealth fund Investment Corporation of Dubai (IDC) is planning a large-scale entertainment – resort project in the central province of Quang Nam, according to Mohammed Ibrahim Al Shaibani, CEO of the corporation. 

Quang Nam is Prime Minister Nguyen Xuan Phuc's hometown. The province has seen big-ticket investments, including an auto-making plan by Thaco.

 
Prime Minister Nguyen Xuan Phuc and Mohammed Ibrahim Al Shaibani, CEO
Prime Minister Nguyen Xuan Phuc (r) and Mohammed Ibrahim Al Shaibani, CEO of Investment Corporation of Dubai. Source: VGP.
IDS expects to seek credible partners for long-term business in Vietnam, said Shaibani in a meeting with Prime Minister Nguyen Xuan Phuc on March 25. 

Shaibani stated Vietnam has gathered favorable conditions for tourism development, thanks to friendly people and beautiful landscape. 

According to the executive, the first impression of tourists coming to Vietnam is the airport. Therefore, in addition to the “hard” infrastructure, it is vital for Vietnam to invest in the “soft” infrastructure, including the application of IT in immigration process and better service quality for visitors. 

UAE has high demand for foreign workers and seeks cooperation with Vietnam in taking Vietnamese people to work in UAE, especially in the fields of tourism and hospitality. 

At the meeting, PM Phuc said the Vietnam and UAE are cooperating in various fields, especially in economy, in which Middle East country is Vietnam’s largest trading partner in the region with annual bilateral trade of US$6 billion. 

Phuc expected Shaibani’s visit to Vietnam would facilitate the two countries’ cooperation in economy, trade and investment 

Vietnam currently has a favorable business and investment environments, and the number of foreign tourists coming to Vietnam is growing strongly, coupled with adequate infrastructure, Phuc added. 

Additionally, the Vietnamese government encourages IDC to soon carry out its projects in the country and expand investment to energy, Phuc said. 
Ngoc Mai
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