United Arab Emirates lured by Vietnam’s agriculture

The UAE Minister of Economy says that not just oil, gas, aviation and infrastructure are lucrative but agriculture is also proving to attract investors.

United Arab Emirates Minister of Economy, Sultan Bin Saeed Al Mansouri, on November 24, led a delegation to Hanoi to attend the 1st session of the joint cooperation between Vietnam and the UAE.

The minister confirmed that the cooperation potential between the two countries is huge and expects to sign more agreements after this event.

“Vietnam is becoming an increasingly attractive market for foreign investors,” he says. “Over the past 10 years, UAE and Vietnam have reached important achievements regarding economic cooperation. Many bilateral agreements have been signed including the three signed in 2009 on investment protection, aviation and double taxation. Trade between Vietnam and UAE grew to some USD600 million last year.”

The minister also revealed that the UAE expects to discuss further cooperation opportunities with Vietnam in some fields including port, aviation, oil, gas, and food processing. He believes that trade between the two countries will increase much more in the future.

He also stressed that agriculture will be one of the most potential markets for UAE investors. “Together with industrialisation, Vietnam should not forget that they are an agricultural country and agriculture is now one of the country’s strongest fields,” he said. “UAE investors will invest more on food processing and help promote agricultural products in Vietnam.”