Lootah Biofuels, a pioneer in the circular economy producing biofuels from used cooking oils, has discussed potential collaboration with Savico Group, one of Vietnam’s largest companies in the circular economy and green tech sectors.

 

The discussions took place during Lootah Biofuels' participation in the Vietnam–UAE Business Forum, organised by Vietnam's Ministry of Planning and Investment and the Vietnamese Embassy in cooperation with Dubai Chambers. 

 

The forum included the participation of Pham Minh Chin, Prime Minister of the Socialist Republic of Vietnam; Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; Abdulaziz Al-Ghurair, Chairman of Dubai Chambers; Mohammed Ali Rashid Lootah, Director General of Dubai Chambers; and a number of officials, business leaders, and investors from both nations.

 

Bilateral cooperation

At the forum, Yousif bin Saeed Lootah, Founder and CEO of Lootah Biofuels, and Dr Nguyen Thanh Hong, Chairman of the Board of Directors of Savico Group, discussed strategies to strengthen bilateral cooperation aimed at achieving sustainable development goals in the UAE and Vietnam.

 

Lootah said: “We are delighted to collaborate with Savico Group, recognised for its investment in green technology and renewable energy, including offshore wind projects, liquefied natural gas, hydrogen production, carbon certification, and sustainable aviation fuel production through alliances with leading international energy companies. We aim to deepen our partnership to contribute to advancing sustainable energy solutions, which aligns with the UAE’s strategic vision and energy diversification goals in support of Net Zero targets.”

 

He added: “The Vietnam–UAE Business Forum highlighted the importance of enhancing economic cooperation and promoting joint investments in critical sectors, with a focus on green economy opportunities, digital transformation, and innovation. We are committed to leveraging the opportunities presented by the sustainability and circular economy sectors as part of our ongoing efforts to support clean energy and advance the biofuel industry, contributing to the UAE Climate Neutrality Strategy 2050 and the Sustainable Development Goals.”

 

Innovative biofuel technologies

In its pursuit of innovative biofuel technologies and sustainable energy solutions, Lootah Biofuels has entered strategic partnerships with leading global organisations such as FatHopes Energy in Malaysia and Deasyl SA. These partnerships aim to develop and distribute sustainable aviation fuel, along with other advanced biofuel solutions.

 

Lootah Biofuels is also committed to supporting the UAE Circular Economy Strategy, which outlines sustainable practices for the private sector, and the National Biofuels Policy, which promotes sustainable fuel alternatives and energy diversification. The company has set a goal of increasing biodiesel’s share in the national fuel mix to 20% by 2050.--TradeArabia News Service