Promoting cooperation, investment and business between Vietnamese and Malaysian enterprises

Prime Minister Pham Minh Chinh speaks at the meeting between Vietnamese and Malaysian businesses. (Photo: Duong Giang/VNA)

According to the special correspondent of VNA, during his official visit to Malaysia, on the morning of May 25 in the capital Kuala Lumpur, Prime Minister Pham Minh Chinh attended the Vietnam-Malaysia Business Meeting Program to promote cooperation, investment and business activities between enterprises of the two countries.

At the meeting, the business communities of the two countries expressed their joy at the positive developments in the Vietnam-Malaysia relationship, especially after the two countries upgraded their relationship to a comprehensive strategic partnership. In particular, economic , trade and investment cooperation is one of the bright spots in the relationship between the two countries.

Malaysia is currently Vietnam's third largest trading partner in ASEAN and Vietnam's ninth largest trading partner in the world.

Two-way trade turnover between the two countries has been steadily increasing, reaching 14.2 billion USD in 2024, striving to reach the target of 18 billion USD in 2025. Malaysia is currently the 10th largest investor out of 143 countries and territories investing in Vietnam, with a total registered capital of 13 billion USD.

Appreciating the role and position of Vietnam in ASEAN and in the world; as well as Vietnam's extremely favorable investment environment, delegates said that the two countries possess strategic and complementary strengths that need to be grasped for cooperation, thereby businesses of the two countries will have more favorable conditions to best access each other's markets, especially in new areas of cooperation with much room for growth such as Halal industry, garment, green economy, innovation, science and technology, digital transformation, green energy, infrastructure development, maritime economy, etc.

Delegates said that in the current context of global fluctuations, the two sides need to make the most of cooperation mechanisms in which they both participate to promote the development of each country for peace, stability, cooperation and development in the region and the world.

Prime Minister Pham Minh Chinh speaks at the meeting between Vietnamese and Malaysian businesses. (Photo: Duong Giang/VNA)

Speaking at the event, acknowledging the thoughtful and intellectual opinions of the delegates, especially on promoting the connection of businesses of the two countries and the connection of the two economies, Prime Minister Pham Minh Chinh said that in the context of the world with rapid and unpredictable changes, businesses, people, nations and countries must unite more, promote multilateralism to solve international issues, including issues of businesses and of each country, ensuring fairness and equality among nations, leaving no one behind...

The Prime Minister asked businesses to actively contribute to promoting ASEAN connectivity, including Vietnam-Malaysia connectivity; promoting cooperation in the fields of green economy, innovation, science and technology, digital transformation, green energy, etc.; and at the same time renewing traditional growth drivers including investment, export, and consumption.

Regarding Vietnam, the Prime Minister said that after 80 years of national independence, Vietnam experienced more than 40 years of war, siege and embargo.

After nearly 40 years of renovation, Vietnam has achieved important achievements. From a poor, backward, war-torn agricultural country, Vietnam has risen to be among the 34 largest economies in the world; among the countries promoting the attraction of the largest foreign direct investment (FDI) in the world; and among the top 20 economies in terms of trade, having signed 17 free trade agreements with more than 60 economies.

Vietnam aims to achieve at least 8% GDP growth in 2025 and strives for double-digit growth in the 2026-2030 period.

Vietnam advocates building an independent, self-reliant, proactive economy, actively integrating deeply, substantially and effectively into the international community to quickly catch up, move forward and participate in leading common issues, for the benefit of all parties.

Representatives of Malaysian leaders attended the meeting. (Photo: Duong Giang/VNA)

Along with implementing three strategic breakthroughs in infrastructure, institutions and human resource training, Vietnam has successfully carried out the revolution in streamlining the organizational apparatus; focused on removing bottlenecks and bottlenecks in institutions, human resources and infrastructure, creating a favorable environment for production, investment and business; created breakthroughs in science and technology development, innovation and national digital transformation; developed the private economy as the most important driving force of the national economy; promoted international integration in the new situation, expanded relations with countries and international partners.

Calling on Malaysian and other foreign businesses to continue cooperating and investing in Vietnam, the Prime Minister affirmed that Vietnam is committed to making efforts to improve and create a favorable investment and business environment for businesses.

In particular, focusing on drastically and synchronously implementing many groups of solutions in the spirit of "open institutions, smooth infrastructure, smart human resources and governance;" ensuring freedom of business, property rights, fair competition and legitimate and legal rights and interests of enterprises in the spirit of "working together, enjoying together, developing together; enjoying joy and happiness together," "promising must be done, committing must be done, implementing must achieve specific and practical results."

Prime Minister Pham Minh Chinh called on FDI enterprises, especially Malaysian enterprises, to continue to trust and stick with Vietnam in the development process; to continuously contribute to the prosperous development of the two countries as well as the Vietnam-Malaysia Comprehensive Strategic Partnership and for peace, stability and development in the region and the world./.

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/thuc-day-hop-tac-dau-tu-kinh-doanh-giua-doanh-nghiep-viet-nam-malaysia-post1040546.vnp