Malaysia's capital city of Kuala Lumpur. Malaysia is one of leading investors in HCM City. (Source: vir.com.vn)

HCM City (VNA) – Ho Chi Minh City hopes to welcome a new wave of Malaysian investors, especially following the formation of the ASEAN Community and the conclusion of the Trans-Pacific Partnership (TPP).

Le Thanh Liem, Vice Chairman of the municipal People’s Committee, made the remark when he received a delegation from Malaysia’s Consulate General in HCM City on July 29.

He affirmed the city’s determination and efforts to simplify administrative procedures and improve the investment climate in order to provide the best conditions for foreign businesses, including those from Malaysia, to operate in the locality.

Sofia Akmalabd, Malaysian Consul General, said Vietnam and Malaysia see great potential for cooperation as they are members of the TPP and the ASEAN Community.

Malaysia and HCM City need closer links to boost their trade and investment in the future, he noted.

As of June 2016, Malaysia was the second largest investor in HCM City with 220 valid projects capitalized at 5 billion USD.

Malaysian investors mainly pour money into such sectors as processing, manufacturing, trade, accommodation and restaurant services.-VNA