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10/29/24, 4:04 PM UAE-Vietnam forum explores ways to stimulate bilateral investments - GulfToday

Dubai Chamber of Commerce (DCC), one of the three chambers operating under the
umbrella of Dubai Chambers, has announced the establishment of the Vietnamese Business
Council to support the growth of bilateral trade and investments.

The announcement was made on the sidelines of the Vietnam–UAE Business Forum, which
was organised on Monday in Dubai by the Ministry of Planning and Investment of Vietnam
and the Embassy of Vietnam in the UAE in collaboration with Dubai Chambers.

The inaugural event was attended by more than 100 government and business figures in the
presence of Phạm Minh Chính, Prime Minister of the Socialist Republic of Vietnam; Dr Thani
Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; Abdul Aziz Abdullah Al
Ghurair, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and
CEO of Dubai Chambers; together with several officials, business leaders, and investors from
Vietnam and Dubai.

The forum explored ways to enhance economic cooperation and stimulate bilateral
investments in several vital sectors, with a focus on opportunities in the green economy,
digital transformation, and innovation. It culminated in the signing of a number of 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.

During his opening speech at the event, Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai
Chambers, commented, “The UAE and the Socialist Republic of Vietnam 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.” He 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 Vietnam.” He 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.”

Dr Thani Al Zeyoudi said the launch of the Vietnamese Business Council is a reflection of the
increasing importance of the UAE-Vietnam partnership in trade and investment. “Vietnam 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

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