"Sharjah Chamber" Discussing with a Vietnamese delegation opportunities for investment, commercial and industrial cooperation

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Sharjah, December 22 / WAM / The Sharjah Chamber of Commerce and Industry discussed with a Vietnamese trade delegation ways to enhance joint cooperation in the fields of investment, industry, trade and entrepreneurship, focusing on cooperation in the field of promising emerging companies and benefiting from the investment opportunities provided by the Comprehensive Economic Partnership Agreement between the UAE and Vietnam in a way that supports economic growth on both sides.

This came during a meeting between Abdulaziz Al Shamsi, Assistant Director General of the Communication and Business Sector at the Sharjah Chamber, today at the Chamber’s headquarters, with a Vietnamese delegation headed by Truong Xuan Thong, Head of the Commercial Office at the Embassy of the Republic of Vietnam to the UAE, in the presence of Jamal Saeed Bu Zingal, Director of the Corporate Communications Department at the Chamber, a number of businessmen and representatives of companies and the private sector in Sharjah, and an elite group of economic and technological leaders and representatives of the private and investment sector in Vietnam.

The meeting discussed activating cooperation in the commercial and industrial sectors between the business communities in Sharjah and Vietnam and enhancing the flow of investments. The two sides reviewed ways to exchange experiences in supporting small and medium-sized projects of a technical nature and how Vietnamese companies can benefit from the advanced infrastructure in the Emirate of Sharjah as a gateway to expansion in the Middle East markets, in parallel with reviewing the incentives that Vietnam offers to Emirati investors in the fields of digital transformation and smart cities and benefiting from the strong momentum achieved by the Comprehensive Economic Partnership Agreement between the UAE and Vietnam, which was signed in October of last year.

Abdulaziz Al Shamsi praised the growing relations between the UAE and Vietnam, established by the Comprehensive Economic Partnership Agreement, as a new beginning for economic relations between the two countries, as it contains elements that contribute to enhancing cooperation between the private sectors on both sides. He praised the economic growth witnessed by Vietnam as a motivating factor for cooperation in the specialized sectoral investments that characterize Vietnam. He called on Vietnamese companies to take Sharjah as a starting point towards regional and local markets, stressing the Chamber’s readiness to support this trend by facilitating Rapprochement between the private sectors in the two countries, providing the necessary data and facilities to introduce promising investment opportunities and stimulating the organization of more visits and mutual trade missions.

For its part, the Vietnamese delegation indicated that the exchange of visits at the highest official levels reflects the growing relations between the two countries, especially in the wake of the signing of the economic partnership agreement, which contributed to the high growth rate in trade exchange compared to last year, explaining that Vietnam is currently adopting a system of stimulating regulations and legislation to attract investors, so that it has become a destination for major investors in the world, especially in the clothing industry, food and manufacturing industries, and advanced technology, pointing to the vital role that small and medium enterprises play in supporting the Vietnamese economy and Vietnam’s position. Growing as a global tourist destination.

Following the main session, bilateral meetings were held between businessmen from both sides, during which services and products were reviewed and the possibility of concluding potential trade deals and ways to continue communication and cooperation were discussed, in a step that reflects the two countries’ common desire to strengthen and develop economic relations and create new areas of joint cooperation.