Prime Minister calls on businesses to promote the mission of connectivity in ASEAN

On the morning of May 25, Prime Minister Pham Minh Chinh attended the Vietnam - Malaysia Business Meeting organized by the Vietnamese Ministry of Finance in coordination with the Vietnamese Embassy in Malaysia and the Malaysian Chamber of Commerce and Industry.

This is an opportunity for both sides to share development orientations and strategies; promote cooperation, open up new investment and business opportunities between the business communities of the two countries; contribute to deepening, substantively and effectively the Vietnam - Malaysia relationship.

Prime Minister Pham Minh Chinh attends the program "Meeting with Vietnamese - Malaysian businesses". Photo: VGP/Nhat Bac

Vietnam's tech startups are thriving

Opinions at the meeting assessed that after more than 50 years of establishing diplomatic relations (1973-2025) and 10 years of Strategic Partnership (2015-2025) and now Comprehensive Strategic Partnership, Vietnam - Malaysia relations have continuously developed in both breadth and depth in all fields and achieved many proud achievements, in which economic, trade and investment cooperation holds an important position and is always promoted.

In terms of trade, Malaysia is currently Vietnam's second largest trading partner in ASEAN (after Thailand) and ninth in the world . Malaysia is also Vietnam's third largest export market in ASEAN (after Thailand and Cambodia). Bilateral trade between Malaysia and Vietnam in 2024 is expected to reach US$18.14 billion, up 4.4% compared to 2023.

In terms of investment, Malaysia is the third largest investor in ASEAN in Vietnam (after Singapore and Thailand), ranking 10th out of 150 countries and territories investing in Vietnam with 770 valid projects and a total capital of 13.6 billion USD. Meanwhile, Vietnam currently has 27 investment projects in Malaysia with a total registered capital of 855 million USD.

The two sides are also members of many important organizations, forums, and free trade agreements (FTAs) in the region (ASEAN + FTA, Regional Comprehensive Economic Partnership - RCEP, Comprehensive and Progressive Agreement for Trans-Pacific Partnership - CPTPP...).

The Prime Minister called on businesses to promote the mission of connectivity within ASEAN and between Vietnam and Malaysia. Photo: VGP/Nhat Bac

Delegates assessed that Vietnam's investment and business environment has been constantly improving, positively evaluated by the international community and investors; many foreign investors have chosen Vietnam as a strategic production center, connecting with global supply chains. In the first 4 months of 2025, realized FDI capital reached over 6.7 billion USD, the highest in the 2020-2025 period, showing that Vietnam continues to be an attractive destination for international investors.

Mr. Tan Sri Dato' Soh Thian La, former President of the Malaysian Chamber of Commerce and Industry, currently President of the Malaysian Manufacturers Federation; Mr. Nivas Ragavan, President of the Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry; Mr. Datuk Ng Yih Pyng, President of the Overseas Chinese Chamber of Commerce and Industry... all assessed that the relationship between the two countries is increasingly close, developing dynamically and the two sides still have many opportunities to expand cooperation in strategic sectors, such as renewable energy, digital transformation, green transformation...

Delegates emphasized that Vietnam is a very important country in the region; Vietnam's strong development brings joy to the Malaysian business community and Vietnam's investment environment is increasingly innovative and safe. In particular, Vietnam's technology startups are very prominent in the market today.

Mr. Tan Sri Dato' Soh Thian La, former President of the Malaysian Chamber of Commerce and Industry, currently President of the Malaysian Manufacturers Federation, spoke at the program. Photo: VGP/Nhat Bac

Mr. Nivas Ragavan, President of the Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry, spoke at the program. Photo: VGP/Nhat Bac

Commitment of the Vietnamese Government to investors

Speaking at the program, Prime Minister Pham Minh Chinh stated that the current world situation is changing very quickly, complicatedly, and unpredictably, with many countries changing policies and many issues of a national, comprehensive, and global nature that no country can solve alone.

In that context, the Prime Minister emphasized the message that there is no other way but to unite more, unite among nations, among businesses, promote multilateralism to participate in solving world problems; including the problems of one's own country and business, contributing to promoting progress, social justice, and equal development among nations, with the spirit of leaving no one behind.

Mr. Datuk Ng Yih Pyng, Chairman of the Overseas Chinese Industry and Commerce Association, spoke at the program. Photo: VGP/Nhat Bac

The Prime Minister said that after 40 years of Doi Moi, from a poor, backward agricultural country, devastated by war, besieged and embargoed, Vietnam has risen to be among the 34 largest economies in the world; among the countries promoting the largest FDI attraction in the world, 20 leading economies in trade, having signed 17 FTAs ​​with over 60 economies.

In 2024, despite many difficulties and challenges, Vietnam achieved many important results, becoming a bright spot in regional and world growth (over 7%); economic scale reached 476.3 billion USD; stable macro-economy, controlled inflation, major balances were ensured. In the first months of 2025, in the face of complicated and unpredictable developments in the world and region, Vietnam continued to achieve important achievements.

The Prime Minister hopes that Malaysian businesses will continue to expand their investment, trust and stick with Vietnam in the development process. Photo: VGP/Nhat Bac

Delegates emphasized that Vietnam's strong development brings joy to the Malaysian business community and that Vietnam's investment environment is increasingly innovative and safe. Photo: VGP/Nhat Bac

Regarding the development orientation in the coming time, the Prime Minister said that 2025 is the year that Vietnam will "accelerate, break through, and reach the finish line" to successfully complete the socio-economic development goals for the 2021-2025 period, creating the premise to enter a new era - the era of striving, developing wealth, civilization, and prosperity of the nation.

In that spirit, Vietnam aims to achieve GDP growth of at least 8% in 2025 and strives to achieve double-digit growth in the coming period; building an independent and self-reliant economy associated with proactive and active international integration, deeply, substantially and effectively.

To achieve this goal, Vietnam is focusing on drastically and synchronously implementing many groups of solutions to carry out 3 strategic breakthroughs, removing bottlenecks and bottlenecks in institutions, human resources and infrastructure, in the direction of "open institutions, smooth infrastructure, smart governance". In particular, perfecting institutions in a superior direction, while harmonizing with the ASEAN region as well as the world; promoting smooth infrastructure connections between provinces and regions, connecting countries and internationally in a synchronous and modern direction; training high-quality human resources, improving labor productivity.

The Prime Minister emphasized: The Vietnamese Government is committed to ensuring property rights, freedom of business, equal access to resources for businesses and investors, and ensuring the legitimate and legal rights and interests of investors. Photo: VGP/Nhat Bac

Along with that, carry out the revolution of streamlining the organizational apparatus, promote the reduction and simplification of administrative procedures and business regulations for enterprises and foreign investors, cut at least 30% of procedures and compliance time and costs; change the state from passive processing to proactive service for people and enterprises.

At the same time, make breakthroughs in science and technology development, innovation and national digital transformation; develop the private economy as the most important driving force of the national economy, launch a movement to enrich the whole people; promote international integration in the new situation, expand relations with countries and international partners; nationalize the quintessence of world culture and internationalize Vietnamese cultural values ​​and identities.

Emphasizing the excellent political and diplomatic relations between the two countries, the Prime Minister called on investors and businesses of the two countries to be proactive and active in contributing to promoting and concretizing this good relationship, creating more and more material wealth.

The Prime Minister hopes that Malaysian businesses will continue to expand their investment, trust and stick with Vietnam in the development process; constantly contribute to the prosperous development of the two countries, the happiness and prosperity of the people as well as the Vietnam - Malaysia Comprehensive Strategic Partnership for peace and prosperity.

Proposing that businesses promote connectivity within ASEAN, including connectivity between Vietnam and Malaysia, promote green economic development, circular economy, energy conversion, digital connectivity, data sharing, creative economy, etc.; at the same time, renew traditional growth drivers such as investment, export, consumption, the Prime Minister emphasized that these are all missions of businesses to diversify markets, products and supply chains, in a complementary and supportive direction.

The Vietnamese government is committed to ensuring property rights and freedom of business. Photo: VGP/Nhat Bac

The Vietnamese Government commits to ensuring property rights, freedom of business, equal access to resources for enterprises and investors, ensuring legitimate and legal rights and interests of investors; not criminalizing civil-economic relations, and prioritizing economic measures in handling cases.

With the viewpoint of "what is said must be done, what is committed must be done, what is done, what is done must have specific products, measurable efficiency, harmonious benefits, shared risks", the Prime Minister emphasized the spirit of "3 together", including: Listening and understanding between enterprises, the State and the people; sharing vision and action to cooperate, support each other to develop quickly and sustainably; working together, winning together, enjoying together, developing together; sharing joy, happiness and pride.

According to VGP

Source: https://vietnamnet.vn/thu-tuong-keu-goi-doanh-nghiep-phat-huy-su-menh-ket-noi-trong-asean-2404633.html