UAE – strategic gateway for Vietnamese goods to enter Middle East

Hanoi (VNA) – The Vietnamese Government always encourages and is willing to create optimal conditions for foreign investors, including those from the United Arab Emirates (UAE), Minister of Industry and Trade Tran Tuan Anh has affirmed.

The Vietnam-UAE business forum in Hanoi on October 15 (Photo: VietnamPlus)

The UAE is a strategic gateway for Vietnamese businesses to access and expand to markets in the Middle East, said Minister of the Economy of the UAE Sultan bin Saeed Al Mansoori at a Vietnam-UAE business forum which took place in Hanoi on October 15.

The UAE minister added that his country always considers Vietnam an important partner and a promising market in Southeast Asia.

In addition to traditional investment in logistics, sea ports, aviation and oil and gas, the UAE side also hopes that the two countries’ businesses could join hands and expand cooperation in other fields such as telecommunication and automobile, among others, he noted.

To realise upcoming cooperation deals, Minister Sultan bin Saeed Al Mansoori asked the countries’ governments to continue close collaboration in activities for trade facilitation as well as business connectivity in a bid to foster friendship and bilateral cooperation.

For his part, Minister of Trade and Industry Tran Tuan Anh said the Vietnamese Government always encourages and is willing to create optimal conditions for foreign investors, including those from the United Arab Emirates (UAE).

Minister Tran Tuan Anh required the businesses communities of the two countries to pay due attention to and closely work with relevant State agencies to continue tapping opportunities and boosting cooperation in economy, trade and investment.

The leader of the Ministry of Industry and Trade also asked firms from the United Arab Emirates to study and invest in the spheres of energy infrastructure development, logistics, oil and gas, renewable energy, energy conservation, chemical industry, supporting industries, material production, farm produce and food processing, as well as building industrial parks in some economic regions with huge potential in Vietnam such as the Central Highlands, the south central region and the southwestern region.

Vietnam and the United Arab Emirates established diplomatic ties in 1993. Vietnam has become the largest trading partner of the UAE in Southeast Asia and the UAE is also the largest partner of Vietnam in the Middle East.

The two countries are determined to work to raise bilateral trade to 10 billion USD, agreeing to soon devise a master plan of action, exchange high-level visits, organize more business trips, and more, for the goal. It was reached during a working visit to the UAE by Deputy Prime Minister Trinh Dinh Dung in July.

Vietnam in general and the country’s largest economic hub Ho Chi Minh City in particular want UAE enterprises to pour more capital into Vietnam through channels such as the stock market, thus helping Vietnamese firms expand and promote sustainable trade and investment links.

According to the General Department of Customs, currently the UAE is the 10th largest market of Vietnamese goods with over 60 commodity groups, including household electronics, footwear, textiles, and agricultural products.

Vietnam imports liquefied gas, material plastic, animal feed materials and many consumer products from the UAE./.