VOI drives fivefold trade growth between Vietnam and Oman

At the eighth Indian Ocean Conference held in Muscat, Oman, on February 16-17, Deputy Foreign Minister Nguyen Minh Vu met with representatives of the Oman Investment Authority (OIA). He commended strengthening economic ties between Vietnam and Oman, emphasising the significant trade growth and VOI’s success over its 17 years of operation.

During the discussion, both parties reaffirmed their commitment to furthering bilateral trade collaboration, particularly in agriculture, food security, technology, and maritime transport. Additionally, OIA and State Capital Investment Corporation (SCIC) of Vietnam, a co-founder of VOI, agreed to enhance the fund’s operational efficiency and attract additional investment from other Gulf nations.

SCIC delegation meets with Oman Investment Authority (OIA)

Founded in 2008, VOI has focused on strategic investments in sectors critical to Vietnam’s sustainable development, including infrastructure, energy, industry, finance, education, healthcare, and real estate. From an initial committed capital of $100 million, the fund has disbursed over $384 million, positioning itself as a leading source of Gulf-region investment in Vietnam.

To date, VOI has undertaken more than 20 investments in key sectors, fostering Vietnam’s long-term economic growth. Prominent enterprises such as AIKYA Pharmaceutical Group, Van Phu Invest (VPI), Van Lang University, and F88 have flourished under VOI’s strategic investment, reinforcing the fund’s impact on Vietnam’s business landscape.

Strategic investments driving sustainable growth

Nguyen Xuan Giao, CEO of VOI, highlighted CME Solar, a rooftop renewable energy company, as one of the fund’s key investments. Both VOI and its investees share a commitment to achieving net-zero emissions by 2050. Previously, VOI also acquired a nearly 10 per cent stake in CII, a leading publicly listed company specialising in urban infrastructure development, including projects such as Rach Chiec Bridge and Hanoi Highway.

“Our investments have helped reshape the national economy and improve the quality of life for local communities,” said Giao.

According to Giao, VOI remains dedicated to channeling Gulf-region capital into Vietnam through strategic investments that drive sustainable growth and create long-term value for stakeholders. The fund upholds three core values – sustainability, cooperation, and integrity – to maximise investment efficiency and impact across its initiatives.

VOI invests in key sectors such as infrastructure, energy, education, and healthcare to drive sustainable economic growth

Strengthening bilateral economic ties

VOI has played a crucial role in reinforcing economic ties between Vietnam and Oman. According to Vietnam’s Ministry of Foreign Affairs, trade turnover between the two nations reached approximately $250 million last year, doubling pre-pandemic levels and growing nearly fivefold since the fund’s inception.

Beyond serving as an economic conduit, VOI represents the deep and enduring friendship between Vietnam and Oman. In late 2023, the fund was recognised by Prime Minister Pham Minh Chinh as a model for investment cooperation between Vietnam and the Gulf region, encouraging VOI to expand its operations further across key sectors.

Unlocking future collaboration

Looking ahead, Giao highlighted Vietnam’s strong investment potential, particularly as the government accelerates public investment and modern infrastructure development.

“VOI is committed not only to making strategic and effective investments but also to serving as a vital bridge between Vietnam and the Gulf – one of the world’s most dynamic economic regions, known for its abundant oil reserves, major financial centres, and pioneering advancements in digital transformation,” Giao stated.

VOI’s success serves as a foundation for unlocking further collaboration opportunities between Vietnam and Gulf nations in the future

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