Dubai Multi Commodities Centre (DMCC) is spearheading a revolutionary tech partnership between the UAE and Vietnam, focusing on Web3 and artificial intelligence (AI) collaborations to boost bilateral trade to $20 billion.
Strategic Roadshow Success
The free zone recently completed its second Made For Trade Live roadshow in Vietnam for 2024, hosting three major events across Hanoi and Ho Chi Minh City. These gatherings brought together more than 650 industry leaders, entrepreneurs, and emerging businesses, showcasing Dubai’s position as a global commerce hub.
Web3 and AI: Driving Future Growth
A standout initiative emerged through DMCC’s partnership with SightSea Labs, Vietnam’s premier Web3 venture builder. The collaboration spotlights how Web3 technology will play a central role in maximising the UAE-Vietnam Comprehensive Economic Partnership Agreement (CEPA), signed in October 2023.
Dubai’s Tech Infrastructure Appeal
DMCC’s comprehensive technology ecosystem features:
- DMCC Crypto Centre
- DMCC Gaming Centre
- DMCC AI Centre
These facilities offer Vietnamese tech companies exceptional resources for international expansion.
Leadership Perspective
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, highlighted Vietnam’s strategic importance: “Vietnam stands out in Southeast Asia for its AI innovation and remarkable crypto adoption rates. The UAE-Vietnam CEPA targets a fourfold increase in bilateral trade to $20 billion, opening new avenues for investment partnerships.”
Proven Track Record
DMCC’s commitment to fostering international business relationships has yielded impressive results:
- Contributes 15% to Dubai’s annual Foreign Direct Investment
- Welcomed nearly 2,700 new member companies in 2023
- Successfully briefed 412 business leaders during its initial Vietnam event in June
Growing Partnership Momentum
The recent roadshow builds upon DMCC’s earlier success in Vietnam, reinforcing Dubai’s status as a premier global business destination. This ongoing initiative demonstrates DMCC’s dedication to attracting international investment and strengthening economic bonds between the UAE and Vietnam.
Note: This article reflects developments in the UAE-Vietnam trade relationship as of early 2024, highlighting DMCC’s role in fostering technological and economic cooperation between these dynamic markets.
JobXDubai 
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