Page 201 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 4:04 PM Dubai Chamber of Commerce launches Vietnamese Business Council to support growth of bilateral trade and investments - Busin…
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.

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