Mohammed bin Rashid and Prime Minister of Vietnam discuss new avenues to enhance strategic bilateral cooperation

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, contiguous received His Excellency Pham Minh Chinh, Prime Minister of Vietnam, astatine Za’abeel Palace successful Dubai. The Vietnamese Prime Minister is connected an authoritative sojourn to the UAE.

HH Sheikh Mohammed bin Rashid welcomed the Vietnamese Prime Minister and the accompanying delegation, and expressed his heavy appreciation for the beardown advancement successful UAE-Vietnam relations. His Highness highlighted the shared committedness to enhancing practice that serves communal improvement goals and meets the aspirations of the peoples of the 2 countries. He noted the value of the visit, reflecting connected the deep-rooted ties established successful 1993, and highlighted Vietnam's presumption arsenic the UAE’s largest trading spouse among ASEAN countries. 

His Highness said that UAE-Vietnam relations are going done an exceptional phase, noting that the UAE is Vietnam’s largest trading spouse successful the Middle East. “Last year, our non-oil commercialized exceeded $12 billion. Today, we are signing a caller concern statement due to the fact that we judge successful the aboriginal of our relations. Trade has grown by 38% from 2022 to 2023, and we expect this statement to further boost it successful the coming years,” His Highness said. "Our nationalist companies, including Dubai Ports, Mubadala, and Borouge, negociate important investments successful Vietnam, and we purpose to promote much Emirati companies to participate the Vietnamese market."

The gathering discussed ways to fortify the bilateral concern by exploring caller avenues for practice successful tourism, investment, industry, and technology. Discussions besides covered expanding commercialized and tourism exchanges, enhancing logistics capabilities, creating innovative concern opportunities, and encouraging collaboration betwixt the backstage sectors of some nations.

They besides examined strategies to accelerate economical practice by boosting communal investments and expanding opportunities for the concern communities of some countries. This involves fostering caller partnerships betwixt businesses and strengthening enactment for investors done flexible regulations, reliable infrastructure, and different growth-enablers.

The Vietnamese Prime Minister expressed pridefulness successful the increasing relationship and practice betwixt the 2 countries, highlighting the immense imaginable for expanding the cooperation. He besides highlighted the communal imaginativeness for the aboriginal of the UAE-Vietnam partnership, emphasising a communal dedication to advancing the partnership’s beneficial interaction connected the improvement journeys of some nations. He reaffirmed Vietnam's dedication to strengthening ties arsenic portion of its efforts to beforehand planetary integration and deepen practice with affable nations.

The gathering besides discussed determination and planetary developments, with a absorption connected caller developments successful the Middle East. The 2 leaders underscored the request for corporate planetary efforts to beforehand bid and make a cooperative situation for development.

The gathering was attended by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports and Chief Executive of Emirates Airline and Group; His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Ports and Borders Security Council; and a fig of ministers and elder officials. 

HH Sheikh Mohammed bin Rashid Al Maktoum and the Prime Minister of Vietnam besides witnessed the signing of a broad economical concern statement betwixt the 2 countries. The statement was signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and His Excellency Nguyen Hong Dien, Minister of Industry and Trade, representing the Vietnamese side. The statement promises to pave the mode for a caller signifier of practice betwixt the 2 countries by improving entree to planetary markets, simplifying customs procedures, and encouraging just commercialized competition.

The statement is expected to amended entree for UAE work providers to a wide scope of sectors successful the Vietnamese market, including concern and communications, engineering, fiscal services, healthcare and societal services, question and tourism, and transportation.

The statement seeks to boost bilateral commercialized betwixt the 2 countries, capitalising connected Vietnam’s important year-on-year economical maturation of 7% successful the archetypal fractional of 2024. Vietnam is the UAE's largest trading spouse successful the region, with non-oil commercialized surpassing $6.06 cardinal successful the archetypal fractional of 2024, a 9% summation from H1 2023.

Foreign commercialized plays a captious relation successful the UAE's economical strategy, with non-oil commercialized unsocial reaching a grounds AED3.5 trillion successful 2023. The broad economical concern statement with Vietnam volition boost the country’s efforts to execute its 2031 non-oil commercialized people of AED4 trillion ($1.1 trillion).

During the meeting, respective agreements and memorandums of knowing (MoUs) were announced betwixt the UAE and Vietnam to heighten practice successful cardinal sectors specified arsenic the economy, investment, trade, government, education, technological research, and logistics.

Key MoUs signed see 1 connected concern practice successful innovation and fiscal centres betwixt the UAE Ministry of Investment and Vietnam's Ministry of Investment and Planning, arsenic good arsenic different focused connected exchanging expertise successful authorities excellence betwixt the UAE Cabinet General Secretariat and Vietnam's Ministry of Internal Affairs. 

Other agreements diagnostic practice successful higher acquisition and technological probe betwixt the UAE Ministry of Higher Education and Scientific Research and Vietnam's Ministry of Education and Training, an MoU betwixt the Central Bank of the UAE and the State Bank of Vietnam, a concern statement betwixt Abu Dhabi Ports and the General Department of Vietnam Customs, and a practice statement betwixt the Abu Dhabi Chamber of Commerce and Industry and the Vietnam Chamber of Commerce and Industry.

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