UAE businesses urged to invest in Da Nang at dialogue in Dubai

Friday, Mar 10, 2023 08:42

Businesses from the UAE and Vietnamese partners at a roundtable to seek investment opportunities in Da Nang and central Viet Nam. —  Photo courtesy of Da Nang Investment Promotion Agency

A call for investment has been made to businesses in the United Arab Emirates (UAE) to develop several key sectors at a dialogue in Dubai attended by the Chairman of Da Nang's People's Committee, Le Trung Chinh.

The ambitious plan proposed at the 'Invest in Da Nang' dialogue includes establishing a free-duty zone, an international finance centre, a seaport, and the growth of logistics, tourism, hi-tech industries and information technology.

The launch of a direct air route between Dubai and Da Nang is also being proposed in the near future. This move represents a significant step towards strengthening economic ties between the two nations and is expected to create a range of opportunities for investors and residents alike.

Chinh said the city has been in discussions with Emirates Airlines on opening a route connecting Da Nang and Dubai to boost tourism, trade and business.

He also called investors from Dubai to review the development of the key Lien Chieu seaport that began construction last December with an investment of US$137 million.

He said the port would play as one of the key gateways to the East Sea, ASEAN, and northeast Asia and a rendezvous of the national multi-traffic system, including road, railway and airway.

The city said the zone would be a magnet for global trade, service providers, and developers.

He added that the city expects exports to the Middle East and African markets via Dubai to grow.

At the dialogue, representatives of Lulu supermarket chains said it would plan a survey in building logistics centres in central Viet Nam and Da Nang.

Desert Harbour, a tourism company, suggested Da Nang open a representative office in the UAE for trade and tourism promotions in the Gulf Cooperation Council (GCC), as well as exchanging culture, tourism and friendships with cities in the Middle East.

According to Viet Nam-Dubai Tradehub (Vietgate) company, Vietnamese farm produce, seafood, footwear and garments, electronics, confectionary, fruits and vegetables and foodstuffs were favoured by customers in Dubai, though not many made-in-Viet Nam brands or business links were built in the market.

Series investment and tourism promotions were held in the UK, Germany, the Netherlands, India, South Korea, Malaysia and Singapore between 2021-23.

Malaysia Airlines, Hong Kong Express Airways, Cambodia Angkor Air, Bangkok Airways, and Vietnam Airlines have rescheduled their services from Kuala Lumpur (Malaysia), Hong Kong (China), Siem Reap (Cambodia), Narita (Japan) and Bangkok (Thailand) to Da Nang between 2022-23.

Six IZs and a high-tech park have attracted 503 projects, including 130 FDI worth $1.8 billion and VND27.56 trillion ($1.2 billion) from domestic investors. — VNS

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