There is huge potential for trade between Viet Nam and Dubai, according to the Dubai Development Investment Agency.

Speaking at a meeting with executives of SAPA Thale Group in Dubai, Fahad Al Gergawi, vice president of the World Investment Association (WAIPA) and CEO of the agency (Dubai FDI), said: “The Dubai Government will create conditions for the sucess of the bilateral investment cooperation programme between SAPA Thale Group and Dubai FDI.

“SAPA Thale Group and Dubai FDI are quickly deploying projects in Viet Nam and the UAE.”

Following an invitation from the Dubai Ministry of Economic Investment and Dubai FDI, SAPA Thale group executives, including Vietnamese-German billionaire Mai Vu Minh, the company’s chairman, visited Dubai from January 25 to 29 to meet with a number of leading business people.

After the meeting with executives of DP World, one of the world’s leading port operators, Minh said: “Our business trip was very effective. DP World sees great potential for seaport and infrastructure development in Viet Nam.”

The bilateral investment cooperation programme was signed last December in HCM City between SAPA Thale Group, WAIPA, Dubai FDI, and the Milcon Gulf Group.

Under the programme, they will enhance co-operation in many fields including finance - banking, technology, infrastructure, energy, transportation, real estate, hospitality, and tourism.

Trade between Viet Nam and Dubai reached US$10 billion last year and is expected to reach $15 billion by 2025.

SAPA Thale Group, established in Germany, specialises in luxury real estate and financial investment. — VNS