HCMC, UAE promote bilateral trade, investment

Mr. Nguyen Van Dung highly appreciated Dubai Chambers for organizing the “Doing Business with Vietnam” forum which was previously held in HCMC on the same day to promote bilateral trade and investment cooperation, and the role of the Embassy of United Arab Emirates (UAE) in Hanoi in connecting and coordinating to host the event.

The forum presented a positive recognition of the city’s potential and contribution to the bilateral cooperation between Vietnam and the United Arab Emirates (UAE), especially in the context of speeding up the negotiation for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.

He also praised the opening of the representative office of the Dubai International Chamber of Commerce in HCMC to provide more opportunities for the two sides to exchange and develop cooperation potential.

In addition, HCMC is also carrying out activities to develop the Halal industry associated with green production-consumption and sustainable export.

President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah believed that both sides can explore more cooperation opportunities in the context of Vietnam considered as one of the leading technologically advanced countries in the bloc of Southeast Asian nations.

He hoped that Dubai would be a partner for Vietnamese technology businesses, especially AI software development companies, to expand their market in the Middle East and North Africa as well as the Gulf.

Speaking at the "Doing Business with Vietnam" forum, Vice Chairman of the HCMC People's Committee Nguyen Van Dung affirmed that the HCMC government has continuously accompanied, supported, and created favorable conditions for foreign enterprises, including UAE investors, to invest and run business in the city.

He also emphasized that the southern metropolis and the UAE have much potential to further promote the strengths of each other. As of the end of 2023, 118 Vietnamese enterprises registered as members of the Dubai Chamber and received benefits from comprehensive business support initiatives and services.

At the opening ceremony of the forum, Mr. Mohammad Ali Rashed Lootah emphasized that Vietnam has significant growth potential thanks to favorable economic policies, robust infrastructure, skilled labor force, and a strategically advantageous location.

He believed that the upcoming Comprehensive Economic Partnership Agreement between the UAE and Vietnam would significantly boost the overall trade relations between the two sides and expand Vietnamese exporters' access to global markets.