“The opening of a new representative office of Dubai International Chamber in Vietnam is one of the important steps of the UAE to further strengthen the partnership between the two countries…”Pham Vinh – https://vneconomy.vn/dubai-muon-tang-cuong-tang-dau-tu-kinh-doanh-tai-viet-nam.htm#:~:text=Dubai%20International%20Chamber%20khai%20tr%C6%B0%C6%A1ng,22%20c%E1%BB%A7a%20Dubai%20International%20Chamber.
“On the evening of July 20, the Dubai International Chamber of Commerce – Dubai International Chamber opened a new office in Ho Chi Minh City, Vietnam. This is the 22nd office of Dubai International Chamber. This office further strengthens the general assembly’s presence in Southeast Asia after other new offices in Indonesia and Singapore, with the aim of promoting bilateral trade and investment between Vietnam and Dubai.
Dr. Bader Abdullah Al Matrooshi, Ambassador Extraordinary and Plenipotentiary of the UAE to Vietnam, affirmed that the opening of Dubai’s new International Chamber office in Ho Chi Minh City follows recent initiatives including negotiations on establishment of the Comprehensive Economic Partnership Agreement (CEPA) and the organization of an economic forum between the two countries in June this year.
In addition, trade figures and other key indicators reveal promising opportunities for growth in trade and investment between countries. This Dubai International Chamber office will effectively contribute to this goal.
“The Dubai International Office in Ho Chi Minh City will create opportunities for companies in Vietnam to expand their business into Dubai and utilize the City as a gateway to access emerging markets, while time to support Dubai companies to expand into Vietnam,” said Mr. Bader Abdullah Al Matrooshi.
Mr. Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, said that Dubai Chambers will provide all necessary support to Vietnamese companies wishing to enter Dubai and utilize the City as a launch pad for the market. Areas with high potential for export growth from Vietnam to Dubai include coffee, tropical fruits, furniture and cashew nuts. And the opportunity to increase imports from Dubai to Vietnam in such fields as meat, beverages, coffee, spices, perfumery and cosmetics. In addition, the General Assembly has identified a number of potential sectors for investment in Vietnam, including agribusiness, construction, ecotourism, food processing and renewable energy.
According to statistics of Dubai Customs, the bilateral trade value between Vietnam Vietnam and the UAE (United Arab Emirates, including Dubai) reached an impressive 28.3 billion AED (equivalent to 7.7 billion USD). billion USD) in 2022.
As of May 31, 2023, a total of 170 Vietnamese companies have registered as members of the Dubai General Chamber of Commerce, of which 22 companies joined from January to May this year. The new office opening event is expected to play an important role in attracting more Vietnamese companies to expand their business into Dubai.
Last year, Vietnam’s main exports to Dubai included electronics ($5.15 billion), footwear ($564 million) and machinery ($375 million), along with textiles, chemicals and other products. non-organic substances, clothing, fruits and nuts, coffee, tea and spices, furniture and leather products.
In contrast, Vietnam’s notable imports from Dubai include tobacco ($92 million), animal feed ($38 million) and aluminum ($33 million), perfumes and cosmetics, machinery and equipment. hooks, plastics, iron and steel, mineral fuels and bitumen, and medical instruments…”