{"id":82065,"date":"2024-10-31T00:00:00","date_gmt":"2024-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/31\/uae-to-invest-in-data-centers-logistics-and-evs-in-vietnam\/"},"modified":"2024-10-31T00:00:00","modified_gmt":"2024-10-31T00:00:00","slug":"uae-to-invest-in-data-centers-logistics-and-evs-in-vietnam","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/31\/uae-to-invest-in-data-centers-logistics-and-evs-in-vietnam\/","title":{"rendered":"UAE to invest in data centers, logistics, and EVs in Vietnam"},"content":{"rendered":"

We have more details on Vietnam, UAE<\/strong> collaboration<\/strong>, with some USD 3.5 bn earmarked for a new data center and related infrastructure. UAE Foreign Trade Minister Thani Al Zeyoudi also expressed interest in pursuing further investments in Vietnam.<\/p>\n

ICYMI-<\/strong> The UAE and Vietnam and the UAE inked a comprehensive partnership agreement earlier this week<\/a> that will see both countries cooperate across several sectors and unlock USD 20 bn in trade. The agreement is expected to give a boost to sectors like food production, textiles, machinery, metal industries, logistics, and infrastructure, Al Zeyoudi said<\/a>.<\/p>\n

DIGITAL INFRASTRUCTURE- <\/p>\n

UAE\u2019s Benya Group and Vietnamese <\/strong>Vingroup<\/a><\/strong> are funneling USD 3.5 bn to develop a hyper-scale data center in Vietnam<\/strong>, along with supporting technical, power, and water treatment infrastructure, according to a statement<\/a> from Vingroup. The project aims to support Vietnam\u2019s growing digital economy and strengthen digital connectivity in the region.<\/p>\n

The details: <\/strong>The data center is set to reach 300 MW in capacity, serving both domestic and international markets. It will be built in three phases, though the specific completion date has not been disclosed.<\/p>\n

MARITIME LOGISTICS- <\/p>\n

AD Ports is also partnering with Vingroup to develop shipyard-building capabilities, logistics ecosystems, and seaport operations in Vietnam<\/strong>, focusing on modernizing Vietnam\u2019s logistics and manufacturing sectors. Vingroup will manage project development, infrastructure construction, and local partnerships, while AD Ports will oversee operational management and connect with international clients.<\/p>\n

AD Ports also inked an MoU with Vietnam Customs (GDVC) <\/strong>to explore digital trade solutions for the country\u2019s customs department, including a single window trade solution, customs and border solutions, trade and risk management platforms, and AI-supported digital trade solutions, Wam<\/a> reports.<\/p>\n

EVs- <\/p>\n

Emirates Driving to back Vinfast: <\/strong>Emirates Driving will also lead a consortium of Emirati investors to provide at least USD 1 bn in funding to Vietnamese automotive company Vinfast<\/a>, Bloomberg<\/a> and Reuters<\/a> report, citing sources. No specific timeline has been set up for the disbursement of these funds, the source said, while the Vingroup statement only confirmed that Emirates Driving will be leading a consortium investing in the company.<\/p>\n

What we know: <\/strong>The two companies will work towards developing electric vehicle (EV) infrastructure, driver training, and road safety initiatives to support VinFast\u2019s growth efforts, according to Vingroup\u2019s statement.<\/p>\n

THERE MIGHT BE MORE- <\/p>\n

More UAE-Vietnam collaboration on the horizon?<\/strong> Abu Dhabi Investment Authority (Adia) Managing Director Sheikh Hamed Bin Zayed Al Nahyan met with Vietnamese PM Pham Minh Chinh to express Adia\u2019s interest in backing various priority sectors in Vietnam, Tuoi Tre News<\/a> reports. Adia agreed to explore projects in infrastructure, climate response, innovation, and the establishment of financial centers and freetrade and cargo transit zones for petroleum products in Vietnam, as well as partnerships with Vietnamese food corporations. <\/p>\n

What\u2019s next? <\/strong>Adia plans to send a working delegation to Vietnam to kickstart these collaborations, with Vietnamese PM Chinh tasking Vietnam\u2019s Planning and Investment Ministry and other state agencies with coordination with Adia on potential projects. <\/p>\n","protected":false},"excerpt":{"rendered":"

The countries signed a comprehensive partnership agreement earlier this week to cooperate across several sectors<\/p>\n","protected":false},"author":1,"featured_media":82066,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[407,380,44,32,402],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-abu-dhabi-investment-authority","tag-investment","tag-investment-watch","tag-trade","tag-uae-vietnam-relations","wpautop","entry"],"acf":{"mongo_id":"d58f8b9c-b813-40b2-9bc2-4a6157e2988d","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2812.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE to invest in data centers, logistics, and EVs in Vietnam","related_issue":[82058],"teaser":"The countries signed a comprehensive partnership agreement earlier this week to cooperate across several sectors","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.3d9e277a-d28b-427d-8907-055143224c77.mp3"},"yoast_head":"\nUAE to invest in data centers, logistics, and EVs in Vietnam - 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