Vinh Phuc exploits investment potentials from UAE business
From 16th to 19th of October 2017, Vinh Phuc Investment promotion mission organized a number of activities in Abu Dhabi and Dubai, two cities with the highest density of huge UAE corporations and business and international companies.
United Arab Emirates (UAE) is the federation of 7 emirates: Abu Dhabi, Dubai, Sharjah, Ras Al-Khaimah, Umn Al-Qaiwan, Ajman và Fujairah. With a total area of 83,500 km2, UAE population is only 2 millions; however, the number of foreign people living and working here is up to 4 millions, which includes 5,000 Vietnamese. Thanks to geographical advantages, large oil reserves, and a dynamic development policy, UAE is the spolight for socio-economic development in North Africa – Middle East region. UAE possesses a lot of potentials and targeted investors Vinh Phuc is looking for.
UAE and Vietnam established diplomatic relationships since August 1st 1993. The two countries are going to celebrate the 25t year of friendship and cooperating relation. In 2016, bilingual trade turnover reached 6.5 billion USD. UAE has become the seventh largest export market of Vietnam, after US, China, Hongkong, Japan, Korea, and Germany. Despite its limited investment into Vietnam, there are several investments in urban development, tourism, hotels, restaurants in large cities, such as: Hanoi, Quang Ninh, Da Nang, Ho Chi Minh City
From 16th to 19th of October 2017, Vinh Phuc Investment promotion mission organized a number of investment promotion activities in Abu Dhabi and Dubai, two cities with the highest density of huge corporations and business in UAE and international companies.
In the afternoon of Oct 16th 2017, the mission met and worked with Vietnam Embassy to UAE in Abu Dhabi capital. Deputy Ambassador Hoang Cao Lanh met and worked with the mission, together with officials and staff of the Embassy. Mr Nguyen Van Tri, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People’s Committee, mission leader, briefed the socio-economic development, investment attraction policies, and business climate of the province. The Chairman suggested that Vietnam Embassy acted as a bridge to help Vinh Phuc call for investment from UAE. This is the second investment promotion mission of Vinh Phuc to UAE (the first one was in 2014). Deputy Ambassador informed the mission about current relationship, and potentials for further relationship development between Vietnam and UAE. The 25th anniversary of diplomatic relationship establishment is a good chance to promote the relationships in many fields, especially economic development; also, Deputy Ambassador expressed his readiness to support Vinh Phuc in promoting its business climate and introduce UAE investors to Vinh Phuc to find investment opportunities.
In Oct 17th 2017, the mission met and worked with PDSI Corporation at the headquarter at 1904 North Tower, Emirates Financial Towers, DIFC, Dubai, UAE. President cum General Director Peter Dalkeith Scott, Investment Manager Zahid Aslam, and Financial Manager Majdood Popal attended the meeting. President Scott introduced the development of the corporation from 1989 until now. PDSI is one of the leading companies in the world in term of urban development, operating and implementing tourism and luxury resort projects. PDSI has successfully implemented 63 projects in 15 different countries and received many awards.
In Vietnam, PSDI Vietnam JSC was established since July 2017, with its Certificate of Investment Registration no. 435361688 approved by Ha Noi Department of Planning and Investment in July 16th 2017. The purposes of the project: Estate trading, estate brokery, estate consultation, estate management service, construction; Ha Noi Division of Business Registration issued its Certificate of Business no 0107895089 for the first time in July 22nd 2017.
According to Mr Peter Dalkeith Scott, PDSI has been studying the idea of PDSI Vinh Phuc International city in the last two years with the following details: Total area: about 8,000 ha, includes: Smart and sustainable office area: 2,000 ha, ecological tourism areas and housing: 2,000 ha, natural reserves: 4,000 ha. Total estimated investment: 6 billions USD. Base on the idea, PDSI Vinh Phuc International city will be unique with latest and highest technologies at the moment, creating a dynamic, smart, and sustainable living environment integrated with renewable energy. The Project will provide people with low income, medium income, and luxury appartments, and create 200,000 more jobs. It is estimated that about 376 thousands of people would enjoy high living standards. PDSI Vinh Phuc International City will connect with the neighbooring areas of Hanoi and Thai Nguyen in Vietnam.
Mr Nguyen Van Tri highly appreciated PDSI for its interest in a large project which was suitable for the provincial smart-oriented city development. The provincial efforts in the recent years were meant to create a sustainable space development, attracting potential investor like PDSI. The Chairman also introduced investment incentives, and promise the highest supports and best conditions for the projects to be successfully implemented in Vinh Phuc. PDSI was also advised to finish its project dossiers preparation to submit to the Government of Vietnam for revision in accordance with Vietnam Laws.
In 18th and 19th of October, 2017, thanks to the support from Vietnam Embassy and Business Representative in UAE, the mision held a talkshow with some UAE companies in Dubai to introduce the business climate of the province, and invited them to visit and find investment opportunities in Vinh Phuc.
Leaving UAE, the provincial investment promotion mission successfully completed all investment promotion activities in India, South African and UAE in accordance with its plan in 2017.
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