UAE and Vietnam in pact to boost creative economy

The two countries will promote cultural co-operation and explore investment opportunities

Emirati and Vietnamese officials after the signing of a cultural co-operation pact. Photo: UAE Ministry of Culture and Youth
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The UAE has signed a preliminary agreement with Vietnam to promote cultural co-operation in areas spanning antiquities, heritage, the arts and libraries, as the Gulf country seeks to further boost its creative economy.

The two nations agreed to support the creative economy, back talented people, exchange knowledge and encourage better understanding of each other's culture.

The agreement lays the groundwork to share experiences, information and expertise in the two sectors and promotes the study of each other’s language, literature, the arts and heritage, the UAE Ministry of Culture and Youth said on Monday.

It also fosters co-operation between libraries and supports participation in the two countries' cultural and artistic activities.

Mubarak Al Nakhi, undersecretary of the UAE Ministry of Culture and Youth, emphasised the importance of the cultural and creative industries and said that they should be a national priority in economic development.

This is the best time to explore co-operation in the creative economy and establish common platforms and initiatives to explore investment opportunities in these "promising" sectors, Mr Al Nakhi said.

This would lead to stronger ties between the two countries in the cultural and creative fields and bolster the framework for policies and regulations to promote creative industries, he said.

The UAE has emerged from the Covid-19 pandemic with a sharper focus on hastening its push into high value-added sectors as it reduces its economic dependence on oil revenue.

In June 2021, Abu Dhabi announced plans to invest Dh22 billion ($6bn) over the next five years in its cultural and creative industries in an effort to diversify its economy, create new jobs and attract talent.

The UAE-Vietnam agreement called for measures to strengthen co-operation between relevant authorities in an effort to raise awareness about each other’s national identity, culture, heritage and the arts.

This can be achieved by allowing exchange trips for cultural officials, writers and intellectuals from each country.

It also called for an exchange of books and publications based on each other's culture, as well as participation in activities and events related to antiquities, heritage, the arts and libraries within the framework of specific agreements.

The two countries will also seek to ensure the protection of intellectual property rights in line with national legislation and international conventions.

They also agreed to host mutual cultural events, promote public participation in these activities and co-operate in the sustainability of cultural and creative industries.

The two industries will play an important role in the UAE's development over the next 50 years, government officials said last month.

The UAE's 10-year National Strategy for the Cultural and Creative Industries, the first in the Arab world, aims to boost the two sectors.

The blueprint will be a "turning point" for the economy and reflect the inclusive participation of young people and global stakeholders.

It intends to expand the size and capabilities of the two sectors and rank them among the top 10 most important economic industries in the Emirates.

The strategy aims to increase the contribution of the cultural and creative industries to the country’s gross domestic product to 5 per cent over the next decade.

Updated: January 03, 2022, 1:02 PM