Dubai Chamber of Commerce launches Vietnamese Business Council to support growth of bilateral trade and investments

Dubai Chamber of Commerce, 1 of the 3 chambers operating nether the umbrella of Dubai Chambers, has announced the constitution of the Vietnamese Business Council to enactment the maturation of bilateral commercialized and investments. The announcement was made connected the sidelines of the Viet Nam–UAE Business Forum, which was organised contiguous (Monday) successful Dubai by the Ministry of Planning and Investment of Viet Nam and the Embassy of Viet Nam successful the UAE successful collaboration with Dubai Chambers.

The inaugural lawsuit was attended by much than 100 authorities and concern figures successful the beingness of H.E. Phạm Minh Chính, Prime Minister of the Socialist Republic of Viet Nam; H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; H.E. Abdul Aziz Abdullah Al Ghurair, Chairman of Dubai Chambers, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; unneurotic with respective officials, concern leaders, and investors from Viet Nam and Dubai. 

The forum explored ways to heighten economical practice and stimulate bilateral investments successful respective captious sectors, with a absorption connected opportunities successful the greenish economy, integer transformation, and innovation. It culminated successful the signing of a fig of strategical Memoranda of Understanding (MoUs) betwixt salient entities successful some countries. They included an statement betwixt Vietnam Airlines and some Etihad and Emirates airlines to enactment practice successful the aviation sector; an statement betwixt DP World and Vietnam Maritime Corporation (VIMC) to make Can Tho Port and make inland waterways; agreements betwixt VinGroup and Benya Group, NDMC and Abu Dhabi Port to make cardinal information and logistics infrastructure; an statement betwixt Vinfast and Emirates Driving Company connected electrical conveyance manufacturing; and an statement betwixt T&T Group and Golden Nile successful finance, agriculture and services. 

During his opening code astatine the event, H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: “The UAE and the Socialist Republic of Viet Nam bask beardown economical ties, with continuous maturation successful commercialized and bilateral investments. We look guardant to further enhancing practice successful sectors of communal involvement and paving the mode for much promising opportunities.”

His Excellency added: “We are pleased to denote the constitution of the Vietnam Business Council. The assembly volition service arsenic a level to heighten cross-border economical partnerships and enactment bilateral relations crossed divers sectors, ensuring communal benefits for the concern communities successful Dubai and Viet Nam.”

His Excellency concluded: “We are committed to providing Vietnamese businesses with the enactment they request to turn successful the UAE and leverage Dubai arsenic a gateway to planetary growth. This is reflected successful the information that 75 caller Vietnamese companies registered arsenic members of Dubai Chamber of Commerce during the archetypal 9 months of this year, bringing the full fig of progressive Vietnamese subordinate companies to 176 by the extremity of September.”

His Excellency Dr Thani Al Zeyoudi said the motorboat of the Vietnamese Business Council is simply a reflection of the expanding value of the UAE-Viet Nam concern successful commercialized and investment. “Viet Nam is the UAE’s largest trading spouse successful the ASEAN region, with well-developed manufacturing and agriculture sectors that volition assistance support its affirmative maturation trajectory. Its export-led system besides holds sizeable imaginable for the UAE’s backstage sector, with concern opportunities successful logistics, nutrient accumulation and technology, portion besides offering a high-potential marketplace for fiscal and nonrecreational services. Equally, the UAE’s dynamic ecosystem and planetary connectivity tin alteration Vietnamese companies to entree caller territories crossed the Middle East, Africa and into Europe. This Council volition found the concern connections to leverage these synergies and pave the mode for a caller epoch of success.”

The Viet Nam–UAE Business Forum was organised arsenic portion of ongoing efforts to physique connected dependable maturation successful non-oil commercialized betwixt Dubai and Viet Nam, which reached a worth AED 31.7 cardinal during 2023. This represents an yearly summation of 12.2% compared to the AED 28.2 cardinal recorded successful 2022, according to Dubai Customs data.

In July 2023, Dubai International Chamber established a typical bureau successful Ho Chi Minh City to facilitate deeper engagement with the Vietnamese concern community. The bureau supports companies from Viet Nam seeking to participate Dubai and grow internationally done the emirate, connecting businesses successful some markets with trusted stakeholders and imaginable partners. 

Earlier this year, Dubai International Chamber besides led a highly palmy commercialized ngo to Ho Chi Minh City arsenic portion of the ‘New Horizons’ initiative. During the mission, the enclosure facilitated 180 bilateral concern meetings betwixt companies from Dubai and Viet Nam.
 

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