Sharjah Chamber Discusses Strategies To Enhance Market Access For Vietnamese SMEs In The Middle East

The Sharjah Chamber of Commerce and Industry (SCCI) recently hosted a high-level economic delegation from Vietnam. The meeting aimed to boost economic cooperation and explore sustainable investment opportunities for businesses in both nations. A key focus was on helping Vietnamese small and medium-sized enterprises (SMEs) enter Sharjah's competitive market and expand throughout the Middle East.

Dr. Fatima Khalifa Al Muqarrab, Director of the International Relations Department at SCCI, presented Sharjah's appealing investment environment during the meeting. She highlighted the comprehensive services offered by the Chamber and its affiliates, such as the Sharjah Exports Development Center (SEDC). These services are designed to support foreign companies launching operations in Sharjah.

Nguyen Hoang Phuong led the Vietnamese delegation. He is Chairman of both the Asia-Pacific Institute for Economic Development Research and IMCE Global. He praised SCCI for creating an investor-friendly ecosystem with robust infrastructure that facilitates international expansion. He noted Vietnam's dedication to helping its SMEs access global markets.

Sharjah's strategic location, advanced free zone infrastructure, and investor-friendly environment were emphasized as key advantages for foreign investors. Nguyen Hoang Phuong highlighted Sharjah’s advanced logistics capabilities and streamlined business setup procedures in its free zones as significant benefits for Vietnamese companies looking to expand regionally.

Dr. Fatima Al Muqarrab mentioned that a specialist delegation from IMCE Global, focused on supporting SMEs, significantly contributes to strengthening economic ties between Sharjah and Vietnam under the Comprehensive Economic Partnership Agreement (CEPA). She noted that bilateral non-oil trade reached $6.1 billion in the first half of last year.

Future Collaborative Initiatives

The discussions concluded with both parties exploring potential joint initiatives like specialized workshops and trade missions. These efforts aim to showcase investment opportunities in priority sectors for both countries. Direct coordination between entrepreneurs from Sharjah and Vietnam was also discussed to elevate economic relations further.

Bilateral trade is expected to contribute around $8 billion to the UAE’s national economy by 2032, driven by a 58.4% increase in UAE non-oil exports to Vietnam last year. This growth underscores the importance of continued collaboration between these two regions.

With inputs from WAM