Page 194 - MOE ENGLISH PR REPORT - OCTOBER 2024

and Emirates Driving Company on electric vehicle manufacturing; and an agreement between T&T
Group and Golden Nile in finance, agriculture and services.

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.

In July 2023, Dubai International Chamber established a representative office in Ho Chi Minh City to
facilitate deeper engagement with the Vietnamese business community. The office supports
companies from Viet Nam seeking to enter Dubai and expand internationally through the emirate,
connecting businesses in both markets with trusted stakeholders and potential partners.

Earlier this year, Dubai International Chamber also led a highly successful trade mission to Ho Chi
Minh City as part of the ‘New Horizons’ initiative. During the mission, the chamber facilitated 180
bilateral business meetings between companies from Dubai and Viet Nam.

https://mediaoffice.ae/en/news/2024/october/28-10/dubai-chamber-of-commerce-launches-
vietnamese-business-council