The UAE Vice President and Prime Minister, Mohammed bin Rashid al Maktoum (right) receives Prime Minister Nguyen Tan Dung. The signing ceremony of the agreement on human resource cooperation between the governments of Vietnam and the UAE. Prime Minister Nguyen Tan Dung visits the ARZANAH Project. Prime Minister Nguyen Tan Dung meets with the leading business representatives in Abu Dhabi.  Prime Minister Nguyen Tan Dung attends and addresses the Vietnam-UAE Business Forum. Prime Minister Nguyen Tan Dung witnesses the granting ceremony of the investment licence of Quang Ninh Province to Limitless Company. The official visit to the United Arab Emirates (UAE) by Prime Minister Nguyen Tan Dung at the beginning of 2009 was the first visit to the UAE by a Vietnamese Prime Minister since the two countries officially established diplomatic ties in August 1993.  The visit is expected to result in a closer bond between the two countries. At all places the delegation of the Vietnamese Government and Prime Minister Nguyen Tan Dung visited, they were warmly received by the UAE leaders and the people, indicating the relationship between Vietnam and the United Arab Emirates is in a period of fine development. The leaders of the two countries held discussions and implement many programmes and effective solutions to promote and expand the two countries’ cooperative relations, especially in the five areas of investment and finance, trade, energy, labour and agriculture. The two countries signed a series of important documents, including agreements on investment promotion and protection, double tax avoidance, establishment of an intergovernmental committee, labour cooperation, cooperation between the two foreign ministries and cooperation between the two Chambers of Commerce and Industry. With these agreements, the Prime Minister’s visit completed another stage of establishing a legal basis and a cooperation mechanism for the two countries to boost investment and business. The two sides also committed to soon negotiate and sign agreements governing visa exemptions and tourism cooperation, as well as cooperation in education and scientific research to promote long-term and effective cooperation between the two nations. Business representatives from the two countries also signed a series of important deals, including agreements to increase investment capital for the Ha Long Star Project from 220 million USD to 550 million USD, cooperation in sheep breeding in Ninh Thuan Province, and real estate investment in Ho Chi Minh City. To expedite these agreements and promote cooperative relations between the businesses of the two countries, in March 2009 the UAE will send a Deputy Prime Minister to Vietnam to implement the signed agreements and in June, a large business delegation from the UAE will visit Vietnam to seek investment opportunities. Assessing the cooperation potential between the two countries, many experts stated that Vietnam and UAE have dynamic developments, great potential for cooperation and can assist each other to increase competitiveness in the international arena. Prime Minister Nguyen Tan Dung encouraged the UAE investors to participate actively in large projects in Vietnam , especially in the areas where the UAE is strong, such as crude oil, petroleum products, chemicals and fertilizers. The UAE has the potential to become a market for Vietnam ’s staple exports, such as farm produce, food, garments and textiles, handicraft products and electronic parts. An issue that was not directly mentioned but the observers can easily see is the fact that the cooperation potential between the two countries in the field of oil and gas in the future is great, especially when the Dung Quat Oil Refinery  Project of Vietnam comes online.  The two countries can cooperate and exchange technology, techniques and science, training and even the input and output of products. With specific steps taken during Prime Minister Nguyen Tan Dung’s visit, it is hoped that Vietnam and the UAE will attain new heights in their relationship as well as economic development with the aim of bringing the two countries continuing prosperity. About the Vietnam-UAE relationship Vietnam and the UAE officially established diplomatic ties in August 1993. Vietnam and the UAE have opened embassies in the capital city of each country. Over the past years Vietnam and the UAE have exchanged delegations at different levels. Vietnam’s Vice President Truong My Hoa visited the UAE in June 2006. The UAE Vice President and Prime Minister, Mohammed bin Rashid al Maktoum visited Vietnam in September 2007. In July 2004, Vietnam opened a trade centre in Dubai . Trade relations between Vietnam and the UAE in recent years have increased constantly, reaching 350 million USD in 2007 and is expected to reach 500 million USD in 2008. The two countries have signed many important cooperation agreements, such as a framework agreement on economic scientific, technical and trade cooperation (in October 1999), an agreement on air transportation in May 2001, a memorandum of understanding on industrial development cooperation in September 2007 and other cooperation documents. Over the past years investment activities of the UAE in Vietnam have increased with many major projects being implemented or exploited, such as the projects on Southern Hoi An tourist site, the 5-star Ha Long Hotel, etc. Story by Thanh Hoa - Photos by Duc Tam & VNA