Ample room for Malaysia-Vietnam investment cooperation: Tengku Zafrul - MIDA | Malaysian Investment Development Authority
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Ample room for Malaysia-Vietnam investment cooperation: Tengku Zafrul

Ample room for Malaysia-Vietnam investment cooperation: Tengku Zafrul

19 Jul 2023

Major trading partners Malaysia and Vietnam should work closely to draw more investments in the Association of Southeast Asian Nations (Asean) region, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

In an interview with Vietnam News Agency (VNA) correspondents in Kuala Lumpur ahead of Prime Minister Anwar Ibrahim’s official visit to Vietnam tomorrow and Friday, the minister said he will accompany the prime minister with the aim of promoting trade and investment ties between the two countries.

He said Malaysia ranked fourth for Vietnam among Asean members and that Vietnam and Malaysia are significant Asean trading partners.

Malaysia is Vietnam’s third-largest foreign direct investor in the area, and there is still opportunity for the two nations to improve their cooperation in trade and investment, particularly in the export and import of agricultural and aquatic goods.

Tengku Zafrul suggested that, aside from agriculture, the two nations work together in the green and digital economies, where both are investing heavily and that they be ready to enter markets outside Asean.

According to him, the two countries ought to cooperate in order to sell halal goods to markets outside the Asean region.

The minister said there is much potential for Vietnamese and Malaysian businesses to collaborate, adding that while cosmetics and healthcare will be taken into consideration, food and agriculture should come first.

According to Tengku Zafrul, representatives from Malaysia External Trade Development Corporation and the Malaysian Investment Development Authority will also be accompanying the prime minister. They are scheduled to hold working sessions with Vietnamese businesses that target exports to Malaysia.

Tengku Zafrul said his ministry will organise the annual Malaysia International Halal Showcase in September, with participation from several domestic and international enterprises, and expressed hope that Vietnamese companies will view Malaysia as the worldwide centre for the export of halal products.

Source: Bernama