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Dec 17, 2014 / 09:48

UAE a leading trade partner for Vietnam

The United Arab Emirates (UAE) is one of Vietnam’s most dynamic economic partners in the Middle East and North Africa region with the two-way trade turnover in 2013 jumping 180% on-year in value, striking US$4.46 billion.

Deputy PM Phuc, who is on an official visit to the UAE, made the statement at a Vietnam-UAE economic forum held in Dubai that was attended by hundreds of governmental dignitaries and entrepreneurs from the two countries.

 

In the last decade, trade between the two countries has exploded more than 63 fold Deputy PM Phuc said and cooperation has expanded across the board in all areas of politics, diplomacy, economics and culture.

As of November 2014, Dubai businesses including – DP World, IPIC, Emirates Investment Gate, and Dubai Holding – have heavily invested US$135 million in 8 projects in Vietnam.

 

Vietnam has sent 8,000 workers to the UAE and the two governments have agreed to raise the number to over 20,000 coming years.

Deputy PM Phuc said he hoped that the forum would help businesses from the two countries find yet even more areas for expanded cooperation for mutual benefit to further stimulate trade and investment between them.

Also on December 15, the Deputy PM took time to visit with Overseas Vietnamese (OVs) at the Vietnamese Embassy in Dubai.