Dubai Chamber of Commerce Launches Vietnamese Business Council to Boost Trade

Photo : Dubai Government Media Office

Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has officially launched the Vietnamese Business Council, aiming to bolster bilateral trade and investment between the UAE and Vietnam. This announcement was made during the Viet Nam–UAE Business Forum held on Monday in Dubai, an event organized by Vietnam’s Ministry of Planning and Investment, the Embassy of Vietnam in the UAE, and Dubai Chambers.

The inaugural forum witnessed participation from over 100 distinguished government officials and business leaders, including H.E. Phạm Minh Chính, Prime Minister of the Socialist Republic of Vietnam; 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, along with various investors and business leaders from both countries.

Discussions at the forum centered on enhancing economic cooperation and stimulating bilateral investments across several key sectors, particularly focusing on opportunities within the green economy, digital transformation, and innovation. The event concluded with the signing of multiple strategic Memoranda of Understanding (MoUs) among prominent organizations from both nations. 

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Significant agreements included collaborations between Vietnam Airlines and both Etihad and Emirates airlines to strengthen cooperation in the aviation sector, as well as an agreement between DP World and Vietnam Maritime Corporation (VIMC) aimed at developing Can Tho Port and enhancing inland waterways. Other notable agreements were made between VinGroup and Benya Group, NDMC and Abu Dhabi Port to advance key data and logistics infrastructure, and between VinFast and Emirates Driving Company concerning electric vehicle manufacturing. Additionally, an agreement was reached between T&T Group and Golden Nile covering finance, agriculture, and services.

In his opening remarks, H.E. Abdul Aziz Abdullah Al Ghurair emphasized the strong economic ties between the UAE and Vietnam, highlighting the continuous growth in trade and bilateral investments. He expressed optimism about enhancing cooperation in sectors of mutual interest, paving the way for further promising opportunities. 

Al Ghurair announced the establishment of the Vietnamese Business Council, which is designed to serve as a platform for enhancing cross-border economic partnerships and supporting bilateral relations across diverse sectors. He reiterated the commitment to providing Vietnamese businesses with necessary support to thrive in the UAE, viewing Dubai as a gateway to global growth. He noted that 75 new Vietnamese companies registered as members of Dubai Chamber of Commerce in the first nine months of the year, raising the total number of active Vietnamese member companies to 176 by the end of September.

H.E. Dr. Thani Al Zeyoudi highlighted that the launch of the Vietnamese Business Council underscores the growing significance of the UAE-Vietnam partnership in trade and investment. He noted that Vietnam is the UAE's largest trading partner within the ASEAN region, possessing robust manufacturing and agriculture sectors that contribute to its positive growth trajectory. Dr. Al Zeyoudi pointed out that Vietnam's export-led economy presents considerable opportunities for the UAE's private sector, particularly in logistics, food production, and technology, while also being a high-potential market for financial and professional services. He emphasized that the UAE's dynamic ecosystem and global connectivity could help Vietnamese companies access new markets across the Middle East, Africa, and Europe, and that the council would create essential business connections to leverage these synergies.

The Viet Nam–UAE Business Forum is part of ongoing efforts to capitalize on the steady growth in non-oil trade between Dubai and Vietnam, which reached AED 31.7 billion in 2023, marking a 12.2% annual increase compared to AED 28.2 billion in 2022, according to data from Dubai Customs.

Earlier this year, Dubai International Chamber established a representative office in Ho Chi Minh City to deepen engagement with the Vietnamese business community, facilitating support for companies from Vietnam seeking to enter Dubai and expand internationally through the emirate. This office connects businesses in both markets with trusted stakeholders and potential partners. In July, Dubai International Chamber successfully led a trade mission to Ho Chi Minh City under the 'New Horizons' initiative, facilitating 180 bilateral business meetings between companies from Dubai and Vietnam, reinforcing the commitment to strengthening economic ties between the two nations.