DMCC Builds Web3 and AI Connectivity with Vietnam
DMCC – the leading international business district that drives the flow of global trade through Dubai – is connecting the Web3 and AI communities across Dubai and Vietnam, underscoring the immense potential for trade and investment in technology-driven sectors following the historic signing of the UAE-Vietnam Comprehensive Economic Partnership Agreement (CEPA) in October.
During its second Made For Trade Live roadshow to Vietnam this year, DMCC hosted three high-level events in Hanoi and Ho Chi Minh City, gathering more than 650 business leaders, founders, and start-ups to enhance trade, investment and business connectivity between Vietnam and the UAE. A dedicated event on scaling up Web3 and AI investment was held in partnership with SightSea Labs, one of the Vietnam’s leading Web3 venture builders.
Central to the discussion was how Web3 will help to unlock the CEPA’s USD 20 billion UAE-Vietnam trade corridor, particularly through Vietnamese Web3 businesses expanding their footprint into Dubai. DMCC executives highlighted how the advanced infrastructure on offer in Dubai – through the DMCC Crypto Centre, DMCC Gaming Centre, and DMCC AI Centre – is a major boon to any company looking to scale their Web3 business.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “As one of Southeast Asia’s leading hubs for AI innovation and boasting some of the highest crypto adoption rates globally, Vietnam holds tremendous potential in the Web3 space. With the landmark UAE-Vietnam CEPA signed in October, bilateral trade is set to quadruple to USD 20 billion in the coming years and unlock significant opportunities for new investment and collaboration. We are therefore delighted to be in Vietnam for the second time this year as we continue to engage with the dynamic Vietnamese business community and strengthen the economic and technological connectivity between our countries.”
DMCC’s latest roadshow in Vietnam follows the success of its first-ever event in Vietnam in June, which saw DMCC brief 412 business leaders on the Dubai opportunity. DMCC’s ongoing roadshow programme is central to positioning Dubai as a premier global business hub. Through showcasing Dubai’s unique value proposition, DMCC continues to attract foreign direct investment (FDI) to the emirate. Notably, DMCC contributes 15% to Dubai’s annual FDI inflows, and in 2023, the business district achieved its second-best year on record, welcoming nearly 2,700 new member companies. Today, DMCC is home to over 25,000 businesses from around the world, further cementing its reputation as a dynamic and thriving ecosystem for global trade and innovation.