Prime Minister Pham Minh Chinh and Chairman of Lulu Group MA Yusuff Ali - Photo: VGP/Nhat Bac
 

Mr. MA Yusuff Ali said Lulu is one of the retail groups with a large supermarket chain system, spread across more than 23 countries in the world, including the Middle East, Asia, Europe... The group currently has more than 259 stores in Middle Eastern countries, with more than 65,000 employees and annual revenue of more than 8 billion USD.

Chairman of MA Yusuff Ali assessed that the Vietnamese economy has achieved impressive results in recent times, especially in exports. He proposed expanding the market in Vietnam and hoped to receive support from the Government, ministries and sectors.

In particular, appreciating the high quality of Vietnamese export goods, Lulu has established a representative office in Ho Chi Minh City to purchase Vietnamese goods for its supermarket system and plans to coordinate with the Vietnamese Embassy to organize Vietnamese agricultural product festivals in the Middle East.

The Prime Minister thanked and appreciated Lulu Group for being a bridge to introduce quality Vietnamese products to Middle Eastern consumers - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh thanked and appreciated Lulu Group for being a bridge to introduce quality Vietnamese products to consumers in the Middle East as well as other countries through its large-scale and widespread supermarket chain in recent times.

The Prime Minister assessed that the relationship between Vietnam and the UAE is developing well, with mutual trust, rapid economic cooperation and great potential... which is a solid foundation for businesses of the two countries to expand cooperation.

For its part, Vietnam always maintains political stability, ensures security, safety, and public safety, firmly protects independence, sovereignty, and a peaceful and stable environment for development. The Prime Minister emphasized that these are very important conditions for investors to feel secure in cooperating, producing and doing business effectively, sustainably, and long-term in Vietnam.

Vietnam also maintains macroeconomic stability, controls inflation well, has stable GDP growth, has a large population with a rapidly growing middle class, and per capita income is constantly improving. Therefore, Vietnam is a large market with potential for the consumption of goods and quality products.

On the other hand, Vietnam has deeply integrated into the international community with 19 free trade agreements (FTAs) signed with more than 60 countries (of which 16 FTAs ​​have come into effect and during this visit to the UAE, the Comprehensive Partnership Agreement with the UAE will be announced), including new generation FTAs ​​such as RCEP, CPTPP...

Combined with a favorable geographical location and an increasingly developed logistics system, Vietnam has many favorable conditions for import and export, easily connecting to major markets in the region as well as the world.

The Prime Minister suggested that Lulu Group, with its large network of branches, will be a bridge to bring potential investors from inside and outside the UAE to invest in Vietnam - Photo: VGP/Nhat Bac

The Prime Minister also said that by 2024, Vietnam expects to achieve an agricultural export turnover of about 60 billion USD and is promoting the production and export of agricultural products in the direction of "delicious and clean food" at reasonable prices.

With the above factors, the Prime Minister suggested that Lulu Group continue to promote and introduce more potential Vietnamese products that are suitable to consumer tastes to approach and serve the UAE market as well as the Middle East region and markets in the Group's supermarket chain around the world.

Along with that, create conditions for Vietnamese enterprises to participate in the supply chain in the Halal industry; consider investing and cooperating with a number of potential and capable Vietnamese partners to process agricultural products, open a supermarket chain system in Vietnam - a country with more than 100 million people with great purchasing power.

The Prime Minister also suggested that Lulu Group, with its large network of branches, will be a bridge to bring potential investors from within and outside the UAE to invest in Vietnam. In particular, the Prime Minister welcomed and suggested that the group coordinate with Vietnamese agencies and units to organize a festival every quarter to introduce Vietnamese agricultural products and goods in the Middle East region.

The Vietnamese Government pledges to accompany and create favorable conditions for foreign investors, including Lulu Group, in developing investment and business activities, ensuring compliance with legal regulations./.

Thuy Linh