On October 28, Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Duoc, received a delegation from the United Arab Emirates (UAE) led by Saeed Al Hajeri, UAE Minister of State at the Ministry of Foreign Affairs, on the sidelines of the Autumn Economic Forum 2026.
Leveraging strengths in industry, seaports, and the maritime economy
At the meeting, Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Duoc, highlighted the potential for cooperation with the UAE in the energy sector. Following its merger with Binh Duong and Ba Ria-Vung Tau, Ho Chi Minh City has gained additional advantages in industry, seaports, logistics, and the maritime economy. Ba Ria-Vung Tau, in particular, has an established oil and gas industry, a seaport network, and related industrial sectors, providing favorable conditions for exploring the development of a southern energy hub.
Ho Chi Minh City hopes to connect with UAE corporations and businesses to attract investment, technology, and management expertise, gradually building an energy ecosystem linked to seaports, industry, and logistics to meet the development needs of the city and the wider region.
The UAE has identified energy as one of the key areas of cooperation under the Vietnam-UAE Comprehensive Partnership, providing a foundation for Ho Chi Minh City to expand its ties with major UAE energy corporations.
Expanding oil and gas cooperation, exploring strategic oil reserves
One basis for advancing plans to develop a southern energy hub is cooperation between Vietnam National Industry-Energy Group (Petrovietnam) and Abu Dhabi National Oil Company (ADNOC).
According to a Petrovietnam representative, the two sides continue to cooperate in oil storage and refining and have begun discussions on potential strategic oil reserve cooperation, with a view to expanding talks on oil and crude oil. These efforts could help develop energy infrastructure, enhance storage capacity, and ensure market supply.
The Vietnamese side also mentioned plans to establish two wholly owned subsidiaries under the Petrovietnam system in the UAE. Expanding its presence in the UAE is expected to strengthen connections with international energy partners, develop business activities, and enable deeper participation in the oil and gas value chain.
These initiatives align with the cooperation framework established by the two countries. Under their 2024 Joint Statement on upgrading bilateral ties to a Comprehensive Partnership, Vietnam and the UAE agreed to promote cooperation in oil and gas, liquefied natural gas (LNG), refining and petrochemicals, and renewable energy. The UAE pledged to facilitate Vietnam’s access to stable supplies of petroleum products and encourage cooperation in oil and gas technical services.
At the third Vietnam-UAE Political Consultation, the two sides reaffirmed their commitment to supporting oil and gas companies in expanding cooperation, with the aim of ensuring a stable, long-term energy supply for Vietnam.
Vietnam hopes the UAE government will continue supporting Vietnamese businesses in expanding investment and operations in the country, particularly through cooperation with ADNOC and major energy corporations. Vietnam is also ready to facilitate UAE businesses’ exploration of opportunities, project development, and investment expansion.
Linking Vietnam-UAE oil and gas cooperation programs with plans to develop a southern energy hub could create opportunities to attract international resources to Ho Chi Minh City, particularly in strategic oil reserves, refining and petrochemicals, and energy infrastructure.
