UAE wants to enter into strategic cooperation ties with Vietnam

“UAE highly appreciates potentials as well as important role of Vietnam in Southeast Asia and wants to develop investments in Vietnam in coming time”, United Arab Emirates (UAE) minister of Economy, Sultan Bin Saeed Al Mansouri, emphasized in the interview with the Vietnam News Agency on the occasion of his on-going visit to Vietnam to attend the first meeting of the joint commission for bilateral cooperation between the two governments held on November 24 in Hanoi.

Sharing about the purpose of his visit to Vietnam, UAE minister said that the two partners will discus further bilateral cooperation relations on economy, trade and investment between the two countries, promoting investments in potential fields such as seaport, aviation, agriculture, oil and gas, infrastructure and tourism.

State President Nguyen Minh Triet also affirmed Vietnam highly valued the UAE’s role in the world and plans to expand cooperation with other countries, including the UAE which possess great financial potential.

“Vietnam is becoming an increasingly attractive market for foreign investors,” he says. “Over the past 10 years, UAE and Vietnam have reached important achievements regarding economic cooperation. Many bilateral agreements have been signed including the three signed in 2009 on investment protection, aviation and double taxation. Trade between Vietnam and UAE grew to some $600 million last year.”

He also stressed that agriculture will be one of the most potential markets for UAE investors. “Together with industrialisation, Vietnam should not forget that they are an agricultural country and agriculture is now one of the country’s strongest fields,” he said. “UAE investors will invest more on food processing and help promote agricultural products in Vietnam.”

Minister Mansouri added that the UAE is willing to offer scholarships to Vietnamese students.

Currently, the total foreign investments into UAE have reached $67 billion. Additionally, UAE is a favourable transit point for goods and is the gateway for trade in the Middle East-Africa. Thus, enterprises of UAE and Vietnam will be able to cooperate in many sectors. At present, Vietnam has sent about 10,000 labourers to work in UAE. – Vietnam+