Page 208 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 4:05 PM Dubai Chamber of Commerce Launches Vietnamese Business Council to Bolster Trade and Investment Ties -
organized in collaboration with Viet Nam’s Ministry of Planning and Investment and the Embassy of Viet Nam
in the UAE.

The event gathered over 100 attendees, including prominent government officials and business leaders, featuring
high-profile figures such as H.E. Phạm Minh Chính, Prime Minister of Viet Nam; H.E. Dr. Thani bin Ahmed Al
Zeyoudi, UAE Minister of State for Foreign Trade; H.E. Abdul Aziz Abdullah Al Ghurair, Chairman of Dubai
Chambers; and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

The forum explored avenues to expand economic cooperation, with a focus on the green economy, digital
transformation, and innovation. It concluded with several strategic Memoranda of Understanding (MoUs),
including agreements between Vietnam Airlines, Etihad, and Emirates airlines for aviation collaboration; a
partnership between DP World and Vietnam Maritime Corporation (VIMC) for port and inland waterway
development; and agreements involving VinGroup, Abu Dhabi Port, and Emirates Driving Company to drive
advancements in logistics, data infrastructure, and electric vehicle manufacturing.

H.E. Abdul Aziz Al Ghurair highlighted the UAE and Viet Nam’s robust economic ties: “The UAE and Viet
Nam have enjoyed continuous growth in trade and investments. Establishing the Vietnamese Business Council
marks a significant step in enhancing cross-border partnerships and supporting bilateral relations across various
sectors.”

He further added: “We are committed to empowering Vietnamese businesses to grow in the UAE, with Dubai
serving as a gateway for global expansion. This is reflected by the registration of 75 new Vietnamese companies
with the Chamber during the first nine months of 2024, raising the total number of active members to 176 by the
end of September.”

H.E. Dr. Thani Al Zeyoudi emphasized the growing significance of the UAE-Viet Nam partnership: “Viet Nam
is our largest trading partner in the ASEAN region, boasting strong manufacturing and agriculture sectors. Its
export-driven economy presents valuable opportunities for the UAE, particularly in logistics, food production,
and technology. The Vietnamese Business Council will pave the way for deeper economic integration and new
business prospects.”

The launch of the Vietnamese Business Council aligns with the rising non-oil trade between Dubai and Viet
Nam, which reached AED 31.7 billion in 2023, marking a 12.2% increase from AED 28.2 billion in 2022.

Earlier in 2023, Dubai International Chamber established a representative office in Ho Chi Minh City to
facilitate business engagement and expansion opportunities, further strengthening ties between Dubai and the
Vietnamese market.

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