H.E. Al Ghurair: “We aim to further strengthen economic cooperation with Viet Nam, unlocking new opportunities in sectors of mutual interest.”
H.E. Al Zeyoudi: “As the UAE’s largest trading partner in ASEAN, Viet Nam’s manufacturing and agriculture sectors are key to sustaining its growth. The Council will help harness these synergies for a new era of success.”
176: Total active Vietnamese member companies registered with the chamber as of September.
Dubai, UAE – October 28, 2024: The Dubai Chamber of Commerce, a key entity under Dubai Chambers, has announced the formation of the Vietnamese Business Council. The launch, which took place during the Viet Nam–UAE Business Forum in Dubai, is aimed at fostering bilateral trade and investments. The forum was 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.
