After a few hours of registration, Vietnamese businesses can do business in the land of super-rich people.

On the evening of July 20, Dubai International Chamber, an agency of the Dubai Chambers, United Arab Emirates - UAE, officially opened its representative office in Ho Chi Minh City.

After Singapore and Indonesia, this is Dubai Chambers' third international office in Southeast Asia.

Dr. Bader Abdullah Al Matrooshi, Ambassador Extraordinary and Plenipotentiary of the UAE to Vietnam, affirmed that opening the Dubai International Office in Vietnam is one of the important steps of the UAE to further strengthen the partnership between the two countries. This is a gateway for Vietnamese enterprises to access emerging markets, while supporting Dubai companies to enter Vietnam.

According to statistics from Dubai Customs, the bilateral trade value between Vietnam and Dubai reached an impressive 7.7 billion USD in 2022. Vietnam's main export items to Dubai include electronics (5.15 billion USD); footwear (564 million USD); machinery (375 million USD); along with textile, garment, furniture, fruit, coffee, tea, etc.

Dubai International Office in Ho Chi Minh City officially opened on July 20. (Photo: Dubai Chambers)

In the opposite direction, Vietnam's notable import items from Dubai are tobacco (92 million USD); animal feed (38 million USD) and aluminum (33 million USD)...

As of May 31, 2023, 170 Vietnamese companies have registered as members of Dubai Chambers. Some potential investment sectors in Vietnam are agriculture, construction, eco-tourism, food processing and renewable energy.

Speaking to VietNamNet reporter, Vice President of Dubai Chambers Global Markets, Mr. Salem Al Shamsi, assessed that Ho Chi Minh City is a dynamic city with a strategic position in attracting investment. The Dubai International Office in Vietnam will play a role in connecting trade and supporting businesses not only between Vietnam and Dubai but also with 21 other international offices scattered around the world.

"With fully prepared legal information, it only takes a few hours for a Vietnamese enterprise to complete the investment and business registration procedures in Dubai," said Mr. Salem Al Shamsi.

Dubai is one of the most prosperous places in the world, home to the super-rich and billionaires. In January, the King of Dubai, Sheikh Mohammed bin Rashid Al-Maktoum, announced the Dubai Economic Program, also known as D33, with a total value of up to 32,000 billion dirhams (equivalent to 8,700 billion USD). This plan will double the size of Dubai's economy in the next decade, consolidating Dubai's position in the top 3 cities in the world.

134 billion USD needed to invest in power sources and power grids by 2030. According to the expected progress and construction volume of power source projects, the total investment capital for the 2021-2030 period is expected to be 113.3-134.7 billion USD.

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