UAE opens trade office in HCMC

The Dubai Chambers of the United Arab Emirates (UAE) officially opened a trade office in Ho Chi Minh City on July 20, which is viewed as an important steps in boosting trade and investment between the two countries.

The trade office, the UAE’s third in Southeast Asia after Singapore and Indonesia, is expected to create opportunities for Vietnamese companies to expand into Dubai and utilize the city as a gateway to gain entry to emerging markets, as well as support companies from Dubai to conduct business in Vietnam, according to UAE Ambassador to Vietnam H.E. Bader Abdullah Al Matrooshi.

Mr. Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, said potential fields to boost exports from Vietnam to Dubai include coffee, fruit, furniture, and cashew nuts.

Meanwhile, Vietnam could import meat, beverages, spices, perfume, and cosmetics from Dubai, he said.

Potential sectors for Dubai to increase its investment in Vietnam are agriculture, construction, eco-tourism, food processing, and renewable energy, he added.

Two-way trade between Vietnam and the UAE reached $7.7 billion in 2022.