Politics

HCM City welcomes Malaysian firms’ long-term investment: official

Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem hosted a reception on September 12 for Malaysian Minister of Primary Industries Teresa Kok Suh Sim, who is leading a delegation of Malaysian businesses on a working visit to the southern hub of Vietnam.
HCM City welcomes Malaysian firms’ long-term investment: official ảnh 1Vice Chairman of the HCM City People’s Committee Le Thanh Liem (fourth, right), Malaysian Minister of Primary Industries Teresa Kok Suh Sim (sixth, left) and other officials at the meeting on September 12 (Photo: VNA)

HCM City (VNA) – Vice Chairman of the Ho ChiMinh City People’s Committee Le Thanh Liem hosted a reception on September 12for Malaysian Minister of Primary Industries Teresa Kok Suh Sim, who is leadinga delegation of Malaysian businesses on a working visit to the southern hub ofVietnam.

Liem voiced his delight at the flourishingrelations between Vietnam and Malaysia, especially in economy.

On the basis of sound economic ties between thetwo countries, HCM City wants to further enhance cooperation with Malaysia,including its localities and businesses, in trade, investment and the fields ofmutual concern, thereby bringing about practical benefits to both sides andcontributing to the common prosperity in the region, he noted.

Liem said leaders of the city will pay a workingtrip to Malaysia in the near future so as to share experience in socio-economicdevelopment and climate change response.

The Vice Chairman added HCM City highly valuesMalaysia’s strength in processing products of industrial trees, and it welcomesMalaysian enterprises’ long-term investment in the processing of agriculturaland industrial tree products.

For her part, Minister Teresa Kok Suh Sim saidin the official visit to Vietnam in late August, Malaysian Prime MinisterMahathir Mohamad was impressed by Vietnam’s development potential, and he hasencouraged the country’s ministries and sectors to strengthen trade andinvestment ties with Vietnam.

She said Vietnam is currently the 13th largesttrade partner of Malaysia, and her country hopes that bilateral trade will keepincreasing in the coming time.

Highlighting Malaysia’s potential in primaryindustries like palm oil, coconut, pepper and rubber processing, she said asmore than 50 percent of the country’s palm oil export volume is destined forVietnam, Malaysia wants to further boost cooperation projects with Vietnam,including HCM City, in the processing and the export-import of international-standardpalm oil products.

At present, Malaysia is the eighth biggest tradepartner of Vietnam with bilateral trade topping 11 billion USD in 2018. It hasinvested in 568 projects in Vietnam, which in turn has invested in 19 projectsin Malaysia.

Malaysia ranks fourth among the 106 countriesand territories investing in HCM City with 246 projects worth over 4.6 billionUSD./.
VNA
#Ho Chi Minh City #Vice Chairman of the HCM City People’s Committee Le Thanh Liem #Malaysian Minister of Primary Industries Teresa Kok Suh Sim #Malaysian investment in HCM City #Vietnam-Malaysia relations #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City Malaysia
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