- DMCC concluded its first roadshow in Vietnam with two key events in the capital, Hanoi, and Ho Chi Minh City
- Roadshow focused on attracting new firms across strategic commodities and technology industries
- DMCC highlights opportunities for Vietnamese companies as UAE and Vietnam near conclusion of a landmark CEPA later this year
DMCC successfully concluded its first Made for Trade Live roadshow in Vietnam, which focused on boosting trade, investment, and business connectivity between Vietnam and the UAE ahead of a pioneering Comprehensive Economic Partnership Agreement (CEPA) which is expected to be concluded in 2024.
The events in Hanoi and Ho Chi Minh City leverage the accelerating economic relations between the UAE and Vietnam. With bilateral trade growing year on year, Vietnam is an increasingly important trade partner for the UAE, providing a strategic gateway to Southeast Asia, which has potential to significantly expand in the coming years once the UAE-Vietnam trade deal comes into effect. The UAE is also Vietnam’s largest trading partner in the Arab world.
The event saw DMCC executives brief 412 Vietnamese businesses and leaders in key commodities sectors and technology industries on the opportunities to expand through DMCC. The event focused on the growing potential for Vietnamese and Southeast Asian markets to expand their role on the international stage, particularly as the world’s economy shifts towards greater bilateral trade partnerships and regional bloc-based trade.
“We are happy to see DMCC’s roadshow in Vietnam which will contribute to the ongoing growth of economic development between the UAE and Vietnam. DMCC’s roadshow is one out of many examples of active interactions between both countries and it illustrates the opportunities seen by private sectors.” said H.E. Dr. Bader Al Matrooshi, Ambassador of the UAE to Vietnam. “As the UAE broadens its network of trade partners across the world, our collaboration with Vietnam is set to reach new heights. The UAE is one of the top trade partners for Vietnam in the Middle East. This provides us with a firm platform to grow our trade and investment in the coming years, setting the stage for a new era in UAE-Vietnamese economic relations.”
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “With a landmark UAE-Vietnam CEPA in the final stages of negotiation, DMCC’s presence here demonstrates our intent to drive business connectivity at this pivotal moment. Vietnam’s status as the second-largest coffee producer in the world, as an increasingly competitive global manufacturing hub, and the dynamic growth of its digital economy in recent years are just a few examples of the huge potential to expand trade and investment with the UAE in core economic segments. Through our dedicated industry ecosystems and expanded physical infrastructure, DMCC can support Vietnamese companies set up and connect to global markets, deepening the UAE-Vietnam bilateral corridor as well as regional trade flows in the process.”
DMCC’s roadshow programme plays a pivotal role in spotlighting Dubai as a premier business destination. Throughout the series, DMCC emphasises Dubai’s distinctive value proposition in attracting foreign direct investment (FDI) to the emirate. Notably, DMCC contributes 11% to Dubai’s annual FDI inflows, and in 2023, the business district achieved its second-best year on record, welcoming nearly 2,700 new companies. DMCC is now home to over 24,000 businesses from around the globe.