Vietnam seeks to lure Malaysian finance, industry businesses

HCM City (VNA) – Vietnam is an attractive destination for Malaysian finance and industry businesses, CK Lim, Director of the ASEAN Business Community said at a function to connect Vietnamese and Malaysian businesses in Ho Chi Minh City on November 10.

He noted that the Vietnamese Government’s investment attraction policies and tax incentives offered to foreign businesses have created the attraction of the Vietnamese market.

With over 90 million people, Vietnam is a potential consumption market that is being eyed by regional countries, CK Lim commented.
Several Malaysian banks have made their presence in Vietnam’s finance–banking sector with efficient operations and possibilities to growing robustly, he said.

Malaysian businesspeople saw Vietnam a top choice in the ASEAN region when they plan to build plants to manufacture industrial goods in the coming time, he told participants.

Assessing Vietnam-Malaysia cooperative ties, Ho Xuan Lam, Deputy Director of the HCM City Investment and Trade Promotion Centre, said Malaysia is always a crucial, promising partner of Vietnam.

Being members of the ASEAN Economic Community, which forms a single market and production centre with free movement of goods, services, skilled labourers, investment and capital flows, will allow the countries to boost bilateral trade and investment, he said.

Ho Chi Minh City has been offering flexible and competitive investment attraction policies and mechanisms, he noted, saying this enables foreign businesses, including Malaysian ones to expand their investment and business scope.

Malaysia is one of Vietnam’s strategic partners in ASEAN. In the past ten months of this year, trade between the two countries hit 6 billion USD and it was targeted to reach 12-15 billion USD by 2020.-VNA