Conference held to boost Vietnam-Malaysia economic links
Hanoi (VNA) – A Vietnam-Malaysia business roundtable conference was held in Hanoi
on December 8, aiming to open up opportunities for the business communities of
the two countries to meet and network.
Vietnam’s Deputy
Minister of Industry and Trade Do Thang Hai told the event that despite
potential and advantages for long-term cooperation, trade exchange between the
two countries has not met potential.
The Deputy
Minister affirmed Vietnam can ensure stable supply agricultural products like
rice, tea, coffee, seafood, and pepper for Malaysia on a long-term basis.
Hai also
recommended many solutions to boost economic-trade ties between the two
countries. First of all, the two governments should review trade rules and
remove barriers relating to administrative procedures, customs, standards and
quarantine.
The two sides need
to boost the sharing of experience and technology transfer in the fields of
energy, oil and gas, mechanical manufacturing and agri-fishery product
processing.
He suggested
cooperating to develop value chains in oil and gas, agriculture, seafood,
footwear, garment and textile, and support industry.
Malaysian
Ambassador to Vietnam Zamruni Khalid said the embassy will assist enterprises of
both countries in establishing partnership.
Zafrul Tengku
Abdul Aziz, President of the Kuala Lumpur Business Club, expressed his wish that
Vietnamese enterprises will visit Malaysia to seek investment opportunities.
According to the
MoIT, Vietnam-Malaysia two-way trade value in 2016 is expected to reach 8.1
billion USD, up 4.3 percent against 2015, of which Vietnam’s exports are estimated
at 3.2 billion USD.
In terms of
investment, Malaysia tops the list of seven ASEAN countries investing in
Vietnam in 2015 with 29 new projects. Malaysian enterprises mainly invest in
oil and gas, automobile, production industry, health care, and financial
services and real estate and goods distribution.-VNA