DMCC Builds Web3 and AI Connectivity with Vietnam to Unlock USD 20B Trade Potential

Post by : Elena Malik

Photo : Dubai Government Media Office

DMCC, the leading business center that facilitates global trade through Dubai, is strengthening its connections with Vietnam. This is important for trade and investment in technology, especially after the UAE and Vietnam signed the Comprehensive Economic Partnership Agreement (CEPA) in October.

DMCC held its second Made For Trade Live event in Vietnam this year, with three big meetings in Hanoi and Ho Chi Minh City. Over 650 business leaders, company owners, and start-up founders attended these events, which aimed to build stronger trade and business links between the UAE and Vietnam. One special event focused on helping Web3 businesses grow and was done in partnership with SightSea Labs, one of Vietnam’s top Web3 companies.

The main topic was how Web3 could help increase the trade between the UAE and Vietnam, which is expected to reach USD 20 billion through the CEPA. The focus was on how Vietnamese Web3 companies could set up their business in Dubai. DMCC explained how Dubai has great resources, like the DMCC Crypto Centre, Gaming Centre, and AI Centre, that help Web3 businesses grow and succeed.

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Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: “Vietnam is a leader in technology and innovation. It has a high use of digital currencies, making it a key player in Web3. With the UAE-Vietnam CEPA signed, we expect trade between the two countries to grow four times and reach USD 20 billion in the coming years. This will open up lots of chances for investment and business. We are excited to be back in Vietnam to keep working closely with its business community and strengthen the connection between our two countries.”

This roadshow is the second time DMCC has visited Vietnam, following a successful event in June, where 412 business leaders learned about the opportunities in Dubai. The roadshow is an important part of DMCC’s plan to make Dubai a top place for global business. By showing what makes Dubai special, DMCC helps bring foreign investment to the city. DMCC brings 15% of the yearly foreign investment into Dubai. In 2023, DMCC had its second-best year, adding nearly 2,700 new companies. Today, DMCC is home to over 25,000 businesses from around the world, making it a busy and successful place for global trade and new ideas.

DMCC’s work to connect the UAE and Vietnam shows how committed it is to helping both countries grow through technology and new business partnerships.

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