Look at the Middle East as our partner of all seasons

Put the Middle East in the position of a regular partner!

“Look ahead, boundless energy, enthusiasm, boldness, and patience—only then can great things be accomplished.”

The Middle East is one of our country’s important trading partners in terms of energy security as well as the multinational cargo transport chain. Because of regional geography as well as global influence, we should optimize bilateral trade resources.

Initiating economic cooperation forums

When the global outbreak of the Covid 19 pandemic has paralyzed the global supply chain, it is therefore in order to minimize risks and impacts of epidemics, natural disasters, wars and ensure the economic development of the country. countries will need economic cooperation forums. A typical example of economic cooperation is connecting Vietnam with Middle Eastern and Gulf countries.

Middle Eastern and Gulf countries

The Middle East and Gulf is a vast expanse of land that is often deserted and dominated by desert, but in return nature has endowed the region with rich oil and gas resources.

Middle Eastern countries: Egypt, Yemen, Oman, Saudi Arabia (Saudi Arabia), Israel, Palestine, Jordan, Lebanon, Syria, Turkey , Iraq, Iran, United Arab Emirates, Kuwait, Qatar, the Turkish Republic of Northern Cyprus, Cyprus, Akrotiri and Dhekelia.

Gulf countries: Iraq, Kuwait, Qatar, UAE, Oman, Yemen, Saudi Arabia.

The Middle East region is having its own attraction and is strongly invested and mentioned as “United Arab Emirates -UAE”. The capital of the UAE is Abu Dhabi, located in the largest and wealthiest of the seven emirates. The seven United Arab Emirates are Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, Fujairah and Ras Al Khaimah.

The land of lucky opportunity for many people to carry out regional development in terms of national infrastructure, good essential supply chains for all seasonal needs such as daily essential health care, education, housing , clothing, food supply chain, FMCG Hyper, supermarket, retail all kinds of needs to luxury items.

The land of luck has created thousands of millionaires and hundreds of billionaires, more than 70 of the richest people in the world today with a net worth of 1 to 20  million US dollars in 2023 are listed as The richest are from Middle Eastern countries.

How can there be so many billionaires, what are they doing to achieve that?

To produce many billionaires, they have invested well in exploiting oil resources, in return will have a guaranteed financial source for investment in other fields. To do that first, the banking sector needs to innovate to make transactions fast and provide the best banking services to other sectors in the region.

Although there are regional poverty issues, these issues are taken into account and promoted development projects from multiple channels to transform regional growth with economic development agencies.

It is of the utmost importance for a country that human resources develop and refine it to match global standards and enhance domestic livelihoods. It’s part of the Middle East’s priorities on budgeting, compassion, and wealth creation for everyone at home!

GCC Middle East market welcomes every business enterprise to set up their venture in the land of opportunity with the lowest tax rates and some preferential tax exemptions for startups.

Middle East economy is one of the emerging economies in the world with GDP around 5.08 trillion dollars 7.04 trillion dollars PPP, projected 2023 April GDP per capita is $18,000/$28,000 (nominal/PPP)

With a population of 380 million, GDP growth is estimated at 3.2% in 2023.

Gulf Countries: United Arab Emirates, Qatar, Bahrain and Oman Despite global recession, GCC is expected to record 3.6% GDP growth in 2023

GDP growth rate index of each country in the Middle East

The Arab League is a group of 22 countries, the Middle East is a group of 17 countries. If 10 more states are added, it becomes the Greater Middle East which is a group of 27 states: Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordon, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestinian Authority, Qatar , Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates and Yemen.

Strong Middle Eastern Countries: Morocco, Mauritania, Algeria, Tunisia, Libya, Egypt, Yemen, Oman, Saudi Arabia, Israel, Palestine, Jordan, Lebanon, Syria, Turkey, Armenia, Azerbaijan, Georgia, Iraq, Iran, Afghanistan, Pakistan, Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan, Tajikistan, United Arab Emirates, Kuwait, Qatar and Bahrain

Focus on GCC middle east, there are always a lot of new business projects when the economy is expanding compared to the same period last year, real growth is not only in crude oil supply chain but also in potential transactions. with GCC middle east. Let’s review how Vietnam can become their potential partner all year round

Let’s take a pragmatic view of the basic calculation so that we can understand the current GDP per capita indicator as the key understanding of the market economy. Here comes a short review of the Middle East GDP account.

Although the agency mentions the population in the middle is between 400 million.

Based on this, let’s take the real GDP of $5.08 trillion in nominal terms and the estimated PPP2023 at $7.04 trillion.

The estimated GDP per capita in 2023 is $19,000 (Nominal Estimate 2023) and $27,500 (PPP Estimate 2023)

Vietnam is $410 billion, nominal GDP per capita is $4,600 and $13,000 (estimated PPP 2023)

Vietnam aims to reach a GDP of $2.5 trillion by 2045 with an estimated GDP per capita of $18000.

Although the first quarter of 2023 yields a GDP growth rate of 1.9% in our mind.

Vietnam has a lot of advantages, the most important value is a quality workforce (human resources) in primary, secondary and tertiary industries to focus on the most suitable partners for all industries. season with deep understanding.

As observed, 100% can double GDP growth rate in 5 years if we directly engage with Gulf States and Middle East in all their sectors.

The MEGCC-VN Economic Development Council could be established and begin to review and monitor the progress of policies initiated across countries.

Our year-round partner

Middle East, Gulf is one of the all-season partners in international trade of Vietnam. Specifically, we consider the Middle East as our balanced market among all-season partners! The development of the Middle East is a remarkable growth compared to other countries with similar capabilities.

As Vietnam is an agricultural country, about 25% of the population participates and this is a good time to directly supply all agro-food supply chains to the Gulf countries in the Middle East. As we all know, all Western giants are trading between Vietnam and the Middle East, the Gulf even in the supply chain of Vietnamese agricultural products. Why don’t we focus on developing it and giving it directly to them to increase our contribution to GDP.

MEGCC-VN can explore possibilities to promote trade. The following data-driven report shows how we can take action to achieve our goals.

Economic Development Council

The role of this council is to focus on the Trade Missions of MEGCC-VN and make the process easy with win-win policies to double the value of trade with MEGCC.

MEGCC policies will be formulated and introduced to traders so that both parties have a joint venture.

The logistics costs should be well adjusted and fixed at a price as good as the one made in Southeast Asia.

Agriculture sector:

• Fruits and vegetables, GPOs and meat products

FMCG and food industry:

• All processed and packaged FMCG as well as other food and cold chain supply chains.

Production area :

• Establish semi-manufacturing units to strengthen the supply chain and better serve the market.

Raw materials provide wood, steel and other commodities. Also bio and organic products for their market.

Develop an EDC roadmap towards growth and monitor the mission, while giving full support to local farmers and producers. Area-specific projects are targeted for implementation to increase exports from Vietnam. This is a 100% partner in all seasons and there will always be surplus and greater cooperation in all three areas.

The current trade balance is in surplus, the total trade turnover will reach 16 billion dollars by 2022. It can be doubled by 2023 if we have a clear and appropriate view of products and services. In addition, we need to train and build the right training and development team for all exporters in Vietnam.

During the last few visits, I have observed that there is a huge demand for electricity and electronics, wood, steel and building materials, furniture, home textiles, FMCG and supply chains. food, semi-manufacturing partnerships with mutual commercial interests.

“We are able to provide a sustainable agri-food supply, industrial production and service sector capabilities to the Council of Gulf States in Dubai,” said Raffic, Gulf States Council in Dubai ECM. Middle East by establishing an economic cooperation council with experts from both sides to study and review projects and industries. “

CULTURE Exchange wings to exchange Engineering and Technology for mutual development and growth.

Creating more opportunities for FTA to increase export volume from Vietnam to Middle East GCC countries, I am confident that Vietnam’s TB account will double in the next few years. We can assure you.

We looked with the main data of the IMF/GCC/GSO/WBG.

In fact, we can provide you with a specific training if you require it to start trading MEGCC VN. This is a free and non-profit service with the aim of contributing to the economic development of the country. You can contact us at any time if you need any specific help and support to start or support your export business from Vietnam to MEGCC.

Many thanks to Source Data  IMF|WBG|GCC|MEA|GSOV and all the friends and groups who supported us in bringing this wonderful article to the public service.