UAE to focus on partnering with Vietnam in trade and economy: Amb.
UAE is one of Vietnam’s top partners in investment, trade and labor export in the Middle East.
The United Arab Emirates (UAE) seeks cooperation with Vietnam in trade and economy as it considers the Southeast Asian country a major partner, according to Obaid Saeed Bintaresh Al Dhaheri, UAE’s ambassador to Vietnam.
Vietnam's Deputy Prime Minister Pham Binh Minh (r) and Obaid Saeed Bintaresh Al Dhaheri, UAE’s ambassador to Vietnam (l). Source: VGP.
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At the meeting, Deputy PM Minh said UAE is one of Vietnam’s top partners in investment, trade and labor export in the Middle East.
In 2014, bilateral trade turnover reached US$5.2 billion, of which Vietnam’s exports amounted to US$4.6 billion. One year later, the two countries’ trade turnover climbed 24% year-on-year to US$6.3 billion, while the figures in 2016 and 2017 were US$6.5 billion and US$6.3 billion, respectively.
UAE has become Vietnam’s seventh largest export market after the US, China, Hong Kong (China), Japan, South Korea and Germany.
Vietnam exports to UAE mainly mobile phones, computers and parts, electronic products, seafood, footwear, textile & garment, cashew, rice, tropical fruits, among others.
Meanwhile, UAE is one of Vietnam’s major investors with large scale projects such as Hiep Phuoc port, Ha Long Star hotel and tourism projects in Da Nang with registered capital of US$4 billion.
Minh requested the ambassador to facilitate UAE’s investment capital to Vietnam, especially in infrastructure development and tourism, at the same time promoting the investment potential of Vietnam.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years