UAE wants to build a transit and storage center for petroleum products in Vietnam

During his official visit to the United Arab Emirates (UAE), on the morning of October 29, local time, in the capital Abu Dhabi, Prime Minister Pham Minh Chinh received Mr. Saltan Bin Ahmed Al Jaber, Minister of Industry and High Technology, CEO of the UAE's Abu Dhabi National Oil Corporation (ADNOC) and his associates.

Prime Minister Pham Minh Chinh received Mr. Saltan Bin Ahmed Al Jaber, Minister of Industry and High Technology, CEO of Abu Dhabi National Oil Corporation. (Photo: Nhat Bac/VGP)

Welcome Prime Minister Pham Minh Chinh visited the UAE, Minister Saltan Bin Ahmed Al Jaber and his colleagues said that UAE President Sheikh Mohammed bin Zayed Al Nahyan was very pleased and appreciated the recent substantive talks with the Prime Minister, emphasizing the importance of the Vietnam-UAE relationship for the prosperity of each country and the region. Reviewing the efforts of both sides to sign the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA), the Minister wished to promote cooperation with Vietnam in many different fields, especially cooperation in energy development including oil refining projects, LNG liquefied gas, especially renewable energy projects such as wind power, solar power; at the same time, he wished to build a transit center, reserve of crude oil and petrochemical products in Vietnam to meet the product demand for the whole region.

The UAE Minister of Industry and High Technology said that the UAE has the capacity to develop high-tech industries, artificial intelligence, improve productivity, and optimize technology; he hopes that the two sides will establish a contact point to promote cooperation in the proposed fields.

View of the reception. (Photo: Nhat Bac/VGP)

Congratulating the establishment and achievements of the Ministry of Industry and High Technology in line with the development trend of the UAE and the world in general, Prime Minister Pham Minh Chinh was pleased to say that the interest, cooperation and investment in Vietnam by UAE ministries, branches and enterprises is very timely, concretizing the recently signed CEPA Agreement. Emphasizing that Vietnam-UAE scientific and technological cooperation is limitless, the two sides have great potential for cooperation in various fields, especially energy and high technology, artificial intelligence and can be implemented immediately, Prime Minister Pham Minh Chinh hopes that the Ministry of Industry and High Technology, UAE enterprises and the Minister and his associates will make efforts to promote cooperation.

Prime Minister Pham Minh Chinh said that Vietnam is a country with potential and is developing the oil and gas industry, both in oil exploitation, refining, and oil and gas trade. Currently, Vietnam has 3 oil refineries, but more oil refineries are needed to not only serve domestic demand but also supply foreign markets; he suggested that UAE corporations cooperate with Vietnam through specific projects, including the construction of a transit center, storage of crude oil and refined petrochemical products.

Informing about Vietnam's potential and strategy for energy development, especially wind and solar energy, which not only serve the domestic market but also export to some neighboring countries, the Prime Minister suggested that UAE corporations cooperate with Vietnam through specific projects.

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