Page 210 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 4:05 PM Dubai Chamber of Commerce launches Vietnamese Business Council to support growth of bilateral trade, investments
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-Viet Nam 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 Middle East, Africa and into Europe. This

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