Ample room remains for Vietnam-Malaysia cooperation: Malaysian minister

Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Utama Zafrul in an interview with the Vietnam News Agency's resident correspondents. (Photo: VNA)

Kuala Lumpur (VNA) – Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Utama Zafrul suggested Vietnam and Malaysia cooperate to attract more investment in the Association of Southeast Asian Nations (ASEAN).

In an interview granted to the Vietnam News Agency (VNA)’s correspondents in Kuala Lumpur ahead of Malaysian Prime Minister Anwar Ibrahim’s official visit to Vietnam from July 20-21, the minister said he will accompany the PM with the aim of promoting trade and investment ties between the two countries.

He stressed that Vietnam and Malaysia are major trade partners in ASEAN, adding for Vietnam, Malaysia ranks fourth among other ASEAN member nations.  

In FDI, Malaysia is Vietnam’s third biggest investor in the region, and ample room remains for the two countries to strengthen their collaboration in both investment and trade, especially the export and import of agricultural and aquatic products.

Apart from agriculture, the two countries should cooperate in the green and digital economy, in which both are pouring investments, he said, suggesting they make preparations to access markets outside ASEAN.

Regarding Halal products, Zafrul said the two countries should work together in exporting them to not only ASEAN but also other markets worldwide.

The minister expressed his belief that there are substantial cooperation opportunities for Vietnamese and Malaysian enterprises, saying health care and cosmetics would be taken into account, but agricultural products and food should be top priorities.  

According to Zafrul, representatives from the Malaysia External Trade Development Corporation (MATRADE) and the Malaysian Investment Development Authority (MIDA) will also visit Vietnam on this occasion. They are scheduled to hold working sessions with Vietnamese businesses that target exports to Malaysia.

The official said Malaysia hopes Vietnamese businesses will consider it the global hub for Halal product export, noting his ministry will host the annual Malaysia International Halal Showcase in September, with the participation of numerous domestic and foreign companies./.

VNA