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Investments by UAE ?in Vietnam hit $4 billion

May 20, 2014

Sultan bin Saeed Al Mansouri, Minister of Economy, has highlighted the need to promote economic relations between the UAE and the Socialist Republic of Vietnam.

This came when Al Mansouri received Nguyen Phuong Nga, Deputy Foreign Minister of Vietnam and the official delegation accompanying her .

During the meeting, they discussed ways to boost bilateral cooperation between the two countries in various fields, as well as means of encouraging the private sector and businessmen to communicate and take advantage of the investment opportunities available in both countries.

The minister pointed out that the volume of trade exchange between the two countries reached $7.814 million in 2012 and that this figure is likely to rise in the future as the UAE is the largest consumer of Vietnamese products in the region.

He also reiterated the necessity to intensify mutual visits of delegations from both countries.

He also added that economic and trade relations between the two countries are growing continuously where UAE's investments in Vietnam amounted to $4 billion, to which 11 investment companies contribute.

For her part, the Vietnamese official stated the need to strengthen the partnership in the medical sector, stressing that her country has empowered medical staff but suffers from a distinct lack of therapeutic facilities. She called on banking and investment entities in the UAE to study the financing and launching of medical projects in Vietnam.

She also confirmed that her country is permanently looking for cooperation in the field of infrastructure, which is a major focus of the government, pointing out that the UAE has made great strides in the field of infrastructure to become one of the leading countries.

The Deputy Foreign Minister said that that the 14 direct flights per week by Emirates airline and Etihad between Hanoi and both Dubai and Abu Dhabi, contributed directly to increasing trade and strengthening relations of the business community in both countries.

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Source: Khaleej Times (United Arab Emirates)

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