Vietnam, UAE boost trade and investment cooperation

Tuesday, 2019-04-09 10:39:24
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Deputy Prime Minister Pham Binh Minh (R) with UAE Ambassador to Vietnam Obaid Saeed Bintaresh Al Dhaheri. (Photo: VGP)
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NDO – Deputy Prime Minister and Foreign Minister Pham Binh Minh received Ambassador of the United Arab Emirates (UAE) Obaid Saeed Bintaresh Al Dhaheri at the Ministry of Foreign Affairs Headquarters on April 8.

Congratulating the Emirati diplomat on his appointment, Deputy PM Minh expressed his hope that, in his tenure, the ambassador would contribute to strongly and effectively promoting the cooperation between the two countries.

The Vietnamese senior official asked his guest to coordinate with Vietnamese relevant ministries and agencies to discuss specific measures to further enhance investment capital flows into Vietnam, especially in infrastructure development and tourism, while helping promote Vietnam’s potentials and investment opportunities to investors in the Gulf.

For his part, UAE Ambassador Obaid Saeed Bintaresh Al Dhaheri praised the potential and development achievements of Vietnam, stressing that UAE always wants to promote cooperation with Vietnam in all fields.

He also affirmed that Vietnam is an important partner for the UAE in the ASEAN, therefore, his mission during his stay in the country is to further promote the cooperation between the two countries, especially in economic and trade fields.

Since serving his duty in Vietnam, the Emirati ambassador has actively exchanged with local agencies and departments to seek ways to support businesses of both sides to exploit the potentials to invest in each country and increase two-way trade turnover.

The UAE is among Vietnam's leading trade, investment and labour partners in the Middle East, with bilateral trade in 2014 having reached US$5.2 billion, of which Vietnam enjoyed exports worth US$4.6 billion to UAE. The figure increased to US$6.3 billion in 2015, up 24% compared to 2014, and up to US$6.5 billion in 2016 and US$6.3 billion in 2017.

The UAE has become Vietnam's seventh largest export market, after the US, China, Hong Kong (China), Japan, the Republic of Korea and Germany. Vietnam’s main exports to UAE include cell phones, computers and components, electrical products, consumer electronics, pepper, seafood, footwear, textiles, fabrics, pearls, gemstones, cashew nuts, rice, tea, cereal products, plastic products, furniture, paper, and fruit and vegetables.

The UAE is one of the major investors in the Gulf to Vietnam with large projects such as Hiep Phuoc Port, Ha Long Star Hotel and a number of tourism projects in Da Nang, with a total committed investment capital at US$4 billion.