Dubai Chamber of Commerce, one of many three chambers working beneath the umbrella of Dubai Chambers, has introduced the institution of the Vietnamese Enterprise Council to assist the expansion of bilateral commerce and investments. The announcement was made on the sidelines of the Viet Nam–UAE Enterprise Discussion board, which was organised right now (Monday) in Dubai by the Ministry of Planning and Funding of Viet Nam and the Embassy of Viet Nam within the UAE in collaboration with Dubai Chambers.
The inaugural occasion was attended by greater than 100 authorities and enterprise figures within the presence 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 International Commerce; H.E. Abdul Aziz Abdullah Al Ghurair, Chairman of Dubai Chambers, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; along with a number of officers, enterprise leaders, and buyers from Viet Nam and Dubai.
The discussion board explored methods to reinforce financial cooperation and stimulate bilateral investments in a number of important sectors, with a concentrate on alternatives within the inexperienced financial system, digital transformation, and innovation. It culminated within the signing of a variety of strategic Memoranda of Understanding (MoUs) between outstanding entities in each nations. They included an settlement between Vietnam Airways and each Etihad and Emirates airways to assist cooperation within the aviation sector; an settlement between DP World and Vietnam Maritime Company (VIMC) to develop Can Tho Port and develop inland waterways; agreements between VinGroup and Benya Group, NDMC and Abu Dhabi Port to develop key knowledge and logistics infrastructure; an settlement between Vinfast and Emirates Driving Firm on electrical car manufacturing; and an settlement between T&T Group and Golden Nile in finance, agriculture and providers.
Throughout his opening speech on the occasion, H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: “The UAE and the Socialist Republic of Viet Nam take pleasure in robust financial ties, with steady progress in commerce and bilateral investments. We stay up for additional enhancing cooperation in sectors of mutual curiosity and paving the way in which for extra promising alternatives.”
His Excellency added: “We’re happy to announce the institution of the Vietnam Enterprise Council. The council will function a platform to reinforce cross-border financial partnerships and assist bilateral relations throughout numerous sectors, making certain mutual advantages for the enterprise communities in Dubai and Viet Nam.”
His Excellency concluded: “We’re dedicated to offering Vietnamese companies with the assist they should develop within the UAE and leverage Dubai as a gateway to world progress. That is mirrored in the truth that 75 new Vietnamese firms registered as members of Dubai Chamber of Commerce in the course of the first 9 months of this yr, bringing the full variety of energetic Vietnamese member firms to 176 by the tip of September.”
His Excellency Dr Thani Al Zeyoudi stated the launch of the Vietnamese Enterprise Council is a mirrored image of the growing significance of the UAE-Viet Nam partnership in commerce and funding. “Viet Nam is the UAE’s largest buying and selling accomplice within the ASEAN area, with well-developed manufacturing and agriculture sectors that can assist preserve its optimistic progress trajectory. Its export-led financial system additionally holds appreciable potential for the UAE’s personal sector, with funding alternatives in logistics, meals manufacturing and know-how, whereas additionally providing a high-potential marketplace for monetary {and professional} providers. Equally, the UAE’s dynamic ecosystem and world connectivity can allow Vietnamese firms to entry new territories throughout the Center East, Africa and into Europe. This Council will set up the enterprise connections to leverage these synergies and pave the way in which for a brand new period of success.”
The Viet Nam–UAE Enterprise Discussion board was organised as a part of ongoing efforts to construct on regular progress in non-oil commerce between Dubai and Viet Nam, which reached a worth AED 31.7 billion throughout 2023. This represents an annual improve of 12.2% in comparison with the AED 28.2 billion recorded in 2022, based on Dubai Customs knowledge.
In July 2023, Dubai Worldwide Chamber established a consultant workplace in Ho Chi Minh Metropolis to facilitate deeper engagement with the Vietnamese enterprise neighborhood. The workplace helps firms from Viet Nam searching for to enter Dubai and broaden internationally by the emirate, connecting companies in each markets with trusted stakeholders and potential companions.
Earlier this yr, Dubai Worldwide Chamber additionally led a extremely profitable commerce mission to Ho Chi Minh Metropolis as a part of the ‘New Horizons’ initiative. Throughout the mission, the chamber facilitated 180 bilateral enterprise conferences between firms from Dubai and Viet Nam.
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