Malaysian Prime Minister calls on Vietnamese businesses to strengthen cooperation in green, sustainable economic growth

Malaysian Prime Minister Anwar Ibrahim expressed his impression of Vietnam's vibrant economic activities and achievements in recent times.

Thủ tướng Malaysia Anwar Ibrahim dự Diễn đàn Doanh nghiệp Việt Nam-Malaysia

Malaysian Prime Minister Anwar Ibrahim attended and delivered a speech at the Vietnam-Malaysia Business Forum. (Source: Mekong ASEAN)

On the morning of July 21, within the framework of his official visit to Vietnam, Malaysian Prime Minister Anwar Ibrahim attended and spoke at the Vietnam-Malaysia Business Forum.

The event attracted the participation of many top officials from ministries and sectors of the two countries, along with hundreds of representatives of companies and businesses.

At the event, many opportunities for cooperation, business and investment were suggested so that Vietnamese and Malaysian enterprises can further promote the great potential and space between the two countries.

Speaking at the event, Malaysian Prime Minister Anwar Ibrahim expressed his impression of Vietnam’s vibrant economic activities and achievements in recent times. In particular, the vision and leadership of the Vietnamese Government in promoting a favorable business environment plays an important role in the country’s economic development, as well as contributing to strengthening the bilateral relationship between Vietnam and Malaysia.

Expressing his delight at the achievements in economic cooperation between the two countries, Prime Minister Anwar Ibrahim emphasized that in terms of trade, the two countries set a target for total bilateral trade turnover of 18 billion USD by 2025. This figure was set in 2021. But so far, based on Malaysian statistics, the total trade turnover between the two countries has exceeded the set target.

Prime Minister Anwar Ibrahim affirmed that in the future, both countries will continue and promote the positive economic and trade momentum that has been achieved.

Prime Minister Pham Minh Chinh and Prime Minister Anwar Ibrahim witnessed the signing of a Memorandum of Understanding on cooperation between the Vietnam Federation of Commerce and Industry and the National Chamber of Commerce and Industry of Malaysia on July 20, 2023. (Source: VNA)

According to Malaysian Prime Minister Anwar Ibrahim, the Memorandum of Understanding between the National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Vietnam Federation of Commerce and Industry (VCCI) signed on the afternoon of July 20 is a practical expression of efforts to further connect the business communities of the two countries, including trade promotion activities, information exchange on policies, investment, etc.

Prime Minister Anwar Ibrahim also emphasized Malaysia's commitment to promoting green, sustainable and environmentally friendly economic growth programs; and called on Vietnamese enterprises to further strengthen cooperation with Malaysian enterprises in these fields.

Further emphasizing the potential cooperation opportunities between the two countries, Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Utama Zafrul affirmed that in addition to being ASEAN members and fully participating in ASEAN economic agreements, Malaysia and Vietnam are also members of important free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These mechanisms will create great momentum for the two countries' post-pandemic economic recovery efforts.

According to delegates attending the forum, the two countries have closely complementary economies. Malaysia, with its strong manufacturing sector and advanced technology, will bring many investment opportunities to Vietnamese enterprises. Similarly, Vietnam's large market base as well as its dynamic and rapidly growing economy will provide Malaysia with a potential market for the exchange of goods and services.

In particular, the two countries still have a lot of room for cooperation in a series of fields such as: real estate, energy, Halal products, food and beverages, construction and building materials, as well as medical and pharmaceutical products...

At the end of the Forum, Malaysian Prime Minister Anwar Ibrahim believed that through efforts to enhance cooperation, joint ventures and sharing of experiences and visions, the two countries can exploit the full potential of the two economies and strongly promote mutually beneficial cooperation mechanisms.

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