The Vietnam-UAE Trade and Investment Week recently concluded in Ho Chi Minh City, South Vietnam, which discussed the mechanisms of facilitating trade and the movement of goods directly, and the effective linkage between the markets of the two countries directly.
Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs, and Vice Chairman of the Ho Chi Minh City People's Committee, Phu Van Hwan, discussed during the bilateral meeting on the sidelines of the event, ways of cooperation between the governments of the two countries to facilitate investments, and familiarize the business community in the two countries with opportunities and mechanisms and procedures It is necessary to conduct various economic business activities and establish effective channels for understanding the market by the private sector, which enhances the orientation of Emirati businessmen to Vietnam as a promising commercial and investment destination, and in return encourages Vietnamese companies to explore the various opportunities offered by the economy. The Emirati.
The Ministry of Economy, which organized the activities of the week, in cooperation with the UAE Embassy in Vietnam, confirmed that more than 400 officials and business travelers from both countries attended the week's events in the cities of «Hanoi» and «Ho Chi Minh», and that the two meetings provided a platform for direct meetings between members of the delegation The country and the Vietnamese business community have resulted in promising partnerships between the private sector in both countries, which are expected to be reflected in the growth of import and export activities and the establishment of investment projects, and increase tourism exchange between the two countries during the next phase.
The Ministry explained that there is a percentage of trade exchange between the two countries through intermediary countries, and that «the week» was an opportunity to introduce the mechanisms of trade facilitation, movement of goods directly, and effective link between the markets of the two countries directly, which reduces the cost of bilateral trade, and contributes to the development of revenues Trade that will be in the interest of the companies of the two countries and their commercial and economic sectors.
Vital sectors
Jamal Al-Jarwan, Secretary General of the Emirates Council for Investors Abroad, said that the first participation of the Council in an official and commercial visit to Vietnam organized by the Ministry of Economy allowed for a closer acquaintance with the investment climate in Vietnam and building positive relations with relevant officials of the Vietnamese government. We learned about Vietnam's future aspirations for economic development.
He added that Vietnamese officials have invited UAE investors and businessmen to enter Vietnamese markets in vital sectors including energy, smart cities, real estate and technology.
Al Jarwan added that the Emirates Overseas Investors Council sees the Vietnamese market as a promising market and an important investment destination in Southeast Asia, stressing the vitality of UAE investments in the Asian continent, as it is the seventh largest global investor in Asia, accounting for 4% of the total foreign investment. Direct in Asia. He stressed that Vietnam is an excellent gateway for the expansion of UAE investments in the ASEAN region.
Partnership opportunities
Sharif Habib Al Awadhi, Director General of Fujairah Free Zone Authority, said that the forum in Vietnam was an important opportunity for the Authority to identify the opportunities of its various trade and investment partnerships and its unique components in the region, especially in the petrochemical, maritime, aviation and mining sectors. Manufacturing, tourism.
Saif Al Mazrouei, Acting Chief Executive Officer of Abu Dhabi Ports Operating Company, said the participation was an opportunity to highlight the strategic importance of Abu Dhabi Ports and its vital facilities such as Khalifa Port and Khalifa Industrial City, and our role in enhancing and diversifying the UAE economy. Its position is a major gateway to regional and global trade.