Malaysian businesses had invested 5.8 billion USD in 169 projects in Ho Chi Minh City by June, becoming the largest foreign investor in Vietnam’s southern economic hub.

The figures were released by Vice Chairman of the HCM City People’s Committee Hua Ngoc Thuan at a ceremony on September 7 to mark Malaysia ’s 55 th National Day.

Thuan said that Malaysia has always been an important economic partner of HCM City , adding that the city has welcomed many business delegations from Malaysia who came to study investment opportunities.

According to the official, the direct air route between HCM City and Malaysia has also facilitated exchange and cooperation activities between the two sides.

HCM City will be happy to welcome more foreign investors, including those from Malaysia , to do business in Vietnam , Thuan said, adding that education and tourism are potential areas for bilateral cooperation in the coming time.

Malaysian Ambassador to Vietnam Dato Azmil Mohd Zabidi said he is pleased with the stable growth of trade relations between the two countries.

Two-way trade between Vietnam and Malaysia exceeded 6.5 billion USD in 2011.-VNA