New Business Opportunities for Vietnamese Entrepreneurs in Dubai

Dubai – A Global Launchpad for Vietnamese Businesses

Dubai, a leading financial and technological center of the Middle East, is aiming to become one of the world’s top three global economic hubs by 2033. With the ambitious Dubai Economic Agenda (D33), this is a golden opportunity for Vietnamese businesses to expand internationally and tap into a vibrant global ecosystem.

Dubai Economic Agenda (D33)

D33 aims to double the size of Dubai’s economy over the next decade, focusing on ten strategic sectors including logistics, finance, international trade, manufacturing, education, technology, and innovation. The Dubai Future Economic Corridor 2033 is set to position the city as a re-export and global trade hub.

Vietnam – A Promising Strategic Partner

Dubai considers Vietnam one of the most dynamic economies in Southeast Asia. In July 2022, the Dubai Chamber of Commerce established a representative office in Ho Chi Minh City to strengthen trade and investment ties. In 2022 alone, Vietnamese exports to Dubai reached $7.37 billion, with electronics, footwear, machinery, furniture, and agricultural goods leading the way. Coffee, cashew nuts, and processed fruits are among the high-potential products. Importantly, Halal certification is a prerequisite for food and agricultural exports to Muslim-majority markets like Dubai.

Digital Transformation – A Golden Gateway for Vietnamese Tech Firms

Digital transformation is a top priority under the D33 roadmap. Dubai plans to attract over AED 650 billion ($177 billion) in FDI within the next 10 years, with AED 100 billion ($27.2 billion) dedicated to digital innovation. Vietnam is widely recognized for its young, skilled tech talent and is considered a global provider of IT services. This presents a strategic opportunity for Vietnamese IT companies to establish a strong presence in Dubai. A notable example is FPT, Vietnam’s leading tech firm, which entered Dubai in late 2019. Despite stiff competition from global players, FPT has achieved impressive results and continues to grow. Moreover, Saudi Arabia – a neighboring country – is also an emerging tech market for Vietnamese businesses to explore.

A Thriving Startup Ecosystem

Dubai is also an emerging hotspot for startups and innovation. In 2021, the UAE attracted $1.2 billion in startup funding, ranking second only to Israel in the region. The city supports new businesses with flexible free zones, simplified procedures, and competitive tax advantages. The Digital Economy Chamber was launched to drive innovation and support startups in the tech and digital space. Another key initiative, Sandbox Dubai, offers a testbed for technology companies to experiment and commercialize new solutions, further establishing the city as a global innovation incubator.

AEIS Property – Your Strategic Partner in Dubai

AEIS Property offers end-to-end support, including legal consulting, business setup, and real estate advisory for investors and entrepreneurs who want to thrive in Dubai. With our deep knowledge of the local market and international business environment, we’re here to help you confidently enter one of the world’s most dynamic economies.

Dubai is opening its doors to bold, visionary entrepreneurs from Vietnam. Are you ready to take your business global with AEIS Property?