Hanoi, Vietnam/ Abu Dhabi, UAE – 29 October 2024 -- Vingroup JSC, one of Vietnam's leading private companies, and AD Ports Group, a diversified, global integrated trade, transport and logistics group, signed today a Memorandum of Understanding (MoU) to explore jointly developing and modernising ports, logistics and maritime infrastructure in Vietnam.

The MoU will investigate opportunities to collaborate in the joint development of integrated logistics ecosystems, seaport operations and shipyards to strengthen Vietnam's logistics and manufacturing sectors, helping to position the country as an emerging trade hub in regional and global supply chains.

Under the terms of the MoU, Vingroup will assess which potential projects could be secured for development, where it could oversee construction, provide essential infrastructure, and engage with local partners.

AD Ports Group, which is based in Abu Dhabi, has agreed to manage the operational aspects of the projects, while connecting with international customers to position Vietnam as an essential part of the global supply chain.

Together, Vingroup and AD Ports Group will work toward leading efforts to arrange funding for projects, and toward potential partnership that could drive modernisation in Vietnam's logistics and manufacturing sectors, fostering trade efficiency, operational interconnectedness, and creating thousands of jobs to benefit the local economy.

Ms. Le Thi Thu Thuy, Vice Chairwoman of Vingroup, said: 'We are excited to be exploring ways to work alongside AD Ports Group to bring transformative logistics capabilities to Vietnam. This collaboration aligns with Vingroup's commitment to national development and represents a significant step toward establishing Vietnam as a strong player in global logistics. Vingroup's projects consistently meet or exceed timelines and quality standards, setting new benchmarks for the market.'

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: 'Vietnam is one of the fastest-growing economies in Asia, with GDP forecast to continue rising in the next few years. We are excited about the possibility of working with Vingroup to help modernise the nation's ports, maritime and logistics infrastructure, while boosting Vietnam's role as an international trade hub. Under the vision of our wise leadership, AD Ports Group looks forward to extending its activities into Southeast Asia and helping Vietnam improve its interconnectivity with the global trade ecosystem.'

Vietnam has become a dynamic hub for trade and manufacturing in Southeast Asia, driven by rapid infrastructure development and a highly competitive logistics sector. The MoU to pursue a strategic collaboration between Vingroup and AD Ports Group would support Vietnam's ambitions to integrate into the global supply chain, reinforcing its international logistics and manufacturing capabilities.