Page 185 - MOE ENGLISH PR REPORT - OCTOBER 2024

11/1/24, 1:54 PM Dubai Chamber of Commerce launches Vietnamese Business Council to support growth of bilateral trade and investments
strategic Memoranda of Understanding (MoUs) between prominent entities in both countries. They included an agreement
between Vietnam Airlines and both Etihad and Emirates airlines to support cooperation in the aviation sector; an agreement
between DP World and Vietnam Maritime Corporation (VIMC) to develop Can Tho Port and develop inland waterways;
agreements between VinGroup and Benya Group, NDMC and Abu Dhabi Port to develop key data and logistics infrastructure; an
agreement between Vinfast and Emirates Driving Company on electric vehicle manufacturing; and an agreement between T&T
Group and Golden Nile in finance, agriculture and services.

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During his opening speech at the event, H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: “The UAE
and the Socialist Republic of Viet Nam enjoy strong economic ties, with continuous growth in trade and bilateral investments. We
look forward to further enhancing cooperation in sectors of mutual interest and paving the way for more promising opportunities.”

His Excellency added: “We are pleased to announce the establishment of the Vietnam Business Council. The council will serve as
a platform to enhance cross-border economic partnerships and support bilateral relations across diverse sectors, ensuring mutual
benefits for the business communities in Dubai and Viet Nam.”

His Excellency concluded: “We are committed to providing Vietnamese businesses with the support they need to grow in the UAE
and leverage Dubai as a gateway to global growth. This is reflected in the fact that 75 new Vietnamese companies registered as
members of Dubai Chamber of Commerce during the first nine months of this year, bringing the total number of active Vietnamese
member companies to 176 by the end of September.”

His Excellency Dr Thani Al Zeyoudi said the launch of the Vietnamese Business Council is a reflection of the increasing
importance of the UAE-Viet Nam partnership in trade and investment. “Viet Nam is the UAE’s largest trading partner in the ASEAN
region, with well-developed manufacturing and agriculture sectors that will help maintain its positive growth trajectory. Its export-
led economy also holds considerable potential for the UAE’s private sector, with investment opportunities in logistics, food
production and technology, while also offering a high-potential market for financial and professional services. Equally, the UAE’s
dynamic ecosystem and global connectivity can enable Vietnamese companies to access new territories across the Middle East,
Africa and into Europe. This Council will establish the business connections to leverage these synergies and pave the way for a
new era of success.”

The Viet Nam–UAE Business Forum was organised as part of ongoing efforts to build on steady growth in non-oil trade between
Dubai and Viet Nam, which reached a value AED 31.7 billion during 2023. This represents an annual increase of 12.2% compared
to the AED 28.2 billion recorded in 2022, according to Dubai Customs data.

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