Dubai-Vietnam Chambers turn over a new chapter in trade ties
Dubai Chamber hosts networking luncheon in honour of HE Nguyen Tan Dung, Prime Minister of the Socialist Republic of Vietnam and his large business delegation
Dubai Chamber of Commerce & Industry hosted a networking luncheon in honour of HE Nguyen Tan Dung, Prime Minister of the Socialist Republic of Vietnam and his large ministerial and business delegation at the Monarch Dubai on Tuesday. The luncheon was attended by HE Reem Al Hashimi, UAE Minister of State, HE Majed Hamad R. Al Shamsi, 1st Vice Chairman, HE Eng Hamad Buamim, Director General and Board Members of Dubai Chamber, representatives of top economic organisations, businessmen, investors and the media.
The visit came as part of the UAE-Vietnam Business Forum seen as a follow-up to HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, and the UAE business delegation’s visit to Vietnam in September, 2007 and the Chamber’s signing of a strategic partnership agreement with the Vietnam Chamber of Commerce & Industry to activate and enhance economic cooperation and commercial promotion between the two chambers of commerce.
HE Majed Hamad R. Al Shamsi, 1st Vice Chairman, Dubai Chamber, while welcoming the Vietnamese Prime Minister said, “We hold your visit in high esteem and I am sure this business trip will turn over a new chapter in the trading ties for both the sides. The visit offers an opportunity to explore new areas of cooperation and to work towards attracting Foreign Direct Investment which both our countries seek.”
Pleased with the outcome of Dubai’s trading figures with Vietnam, Al Shamsi added, “Dubai’s non-oil foreign trade with Vietnam reached AED
1.43 billion at the end of 2007 as the country ranked 55th in the list of Dubai’s trading partners in comparison to its 60th rank in 2006. The rise in trade with Vietnam is affirmed through the increase in the total number of certificates of origin issued in 2008 which was 1,197 with a total value of AED 566 million in direct contrast to 2007 numbers of 978 with a value of AED 409 million. Both Dubai and Vietnam are emerging economies with relative growth in the last five years and their industrial sectors occupy the lead share of their respective GDPs. Today, enhancing the logistics infrastructure of Dubai helps in the development of the bilateral trade exchange between Dubai and Vietnam,” he said.
Al Shamsi informed that Dubai is the port of transshipment between Vietnam and Europe and Africa and the need now is to enhance relations between the business communities in both countries; Exchange knowledge and learn from services provided to members and help increase bilateral trade volumes and discover new business and investment opportunities.
HE Nguyen Tan Dung, Prime Minister of the Socialist Republic of Vietnam said, “I believe my visit to the UAE will open new prospects for cooperation and deepen our long-term trading relations. The initiatives and efforts of our two sides are all too evident and I hope that the economic ties in the areas of investment, energy, labour, agriculture and many more will bring practical results and help our countries to overcome the current financial crisis.”
HE Nguyen Chi Dung, Vietnam’s Deputy Minister of Planning and Investment, gave a presentation on investment opportunities in his country highlighting the potential areas of investment and business opportunities open to investors from the UAE.
