Dubai World Chairman, Vietnam PM discuss co-operation
Bin Sulayem stresses Group’s commitment to support Vietnam’s economic drive
Limitless receives an investment certificate for Halong Star
HE Sultan Ahmed Bin Sulayem, Chairman of Dubai World, today reiterated the group’s commitment to support Vietnam’s economic drive during a meeting with HE Nguyen Tan Dung, Prime Minister of Vietnam, in Jebel Ali.
Senior Dubai World officials, including Jamal Majid Bin Thaniah, Executive Vice Chairman, DP World and Group CEO Ports and Free Zone World, Saeed Ahmed Saeed, CEO, Limitless, Salma Hareb, CEO, Economic Zones World, and Mohammed Al Muallem, Senior Vice President and Managing Director, DP World UAE, attended the reception in honour of the Prime Minister, who is on a state visit to the UAE.
Mr. Bin Sulayem, and HE Nguyen Tan Dung discussed the growing bilateral cooperation between Dubai World and Vietnam, and the scope for new areas of mutual interest.
“His Excellency Nguyen Tan Dung is leading Vietnam’s ambitious economic drive with forward looking reforms. Dubai World is proud to be part of this effort through the presence of our flagship companies there. Vietnam is a market with huge growth potential and the government’s promotion of public-private partnership provides a promising investment climate,” Mr. Bin Sulayem said.
The Group has active presence in Vietnam through the projects under global marine terminal operator DP World and global master developer Limitless.
DP world operates the terminal near Ho Chi Minh City through a joint venture with the Vietnamese state-owned Tan Thuan Industrial Promotion Company (IPC). The port is one of Vietnam’s leading trade gateways.
Limitless is involved in the $550 million Halong Star project, a three-way joint venture between Dubai-based Limitless and Vietnam-based Viet My Ha Long Joint Stock Company and International Properties Investment Partners LLC.
Halong Star – overlooking the UNESCO-sanctioned heritage site of Halong Bay on Vietnam’s north-east coast – will include the area’s first five star hotel, conference facilities, residential units, and recreational, cultural and education facilities.
During the visit, the Prime Minister also witnessed the presentation of an investment certificate for Halong Star, handed over to Limitless by Mr Vu Duc Dam, Chairman of Quang Ninh People’s Committee, before viewing the latest plans for the 125-hectare mixed-use project.
Saeed Ahmed Saeed, CEO of Limitless, said: “Vietnam is a key market for Limitless. Despite current global market challenges, Vietnam is expected to continue to enjoy stable growth, with a demand for sustainable developments in Ha Long Bay, Hanoi and Ho Chi Minh City.”
