Vietnam sees higher trade volume with Malaysia

09:18 | 12/08/2015 Trade

The Asean Business Club (ABC) hosted a special dialogue with Vietnam’s Prime Minister Nguyen Tan Dung to strengthen trade relations between Vietnam and Malaysia.

Vietnam sees higher trade volume with Malaysia

Premier speech: Nguyen Tan Dung delivering his speech during a special dialogue with Malaysian top business leaders in Putrajaya

“In terms of investment, Malaysia ranked 8th among the 103 countries and territories investing in Vietnam with about 500 projects with total registered capital of US$11bil (RM43bil).

“We highly appreciate the significant contribution of the Malaysian investors to the socio-economic development of the country, in promoting the economic reform, transferring the professional management skills and labour training as well,” said Bui Quang Vinh, Minister of Planning and Investment of Vietnam in a statement issued by ABC.

“Among the efforts to further our commitment is the opening of a International Trade and Industry Ministry (Miti) office in Hanoi to augment the efforts of the existing Malaysia External Trade Development Corp (Matrade) office there,” said International Trade and Industry Minister,” Datuk Seri Mustapa Mohamed,

He said he believed that with the support of the private sector, the trade volume between the two nations could be easily raised to US$20bil in the next few years. “This target is well within reach, especially with the formal establishment of the Asean Economic Community by the end of this year,” he said.

The exclusive dialogue was held in partnership with the CIMB Group, the Vietnamese embassy in Malaysia, Ministry of Planning and Investment of Vietnam, Miti and Matrade./.