Malaysian entrepreneurs should seize opportunities to expand and flourish their businesses in Vietnam to take advantage of growing bilateral ties, Prime Minister Datuk Seri Najib Tun Razak told the Malaysian National News Agency on April 5.

The Malaysian leader, who was speaking from Hanoi, also urged Vietnamese businesses to reciprocate by increasing their investment and trade ties with Malaysia.

The Malaysian Prime Minister said Vietnam plans to privatise 500 state-owned enterprises and this would surely open up many business opportunities for Malaysian companies.

He also advised Malaysian firms to understand the Vietnamese business culture in depth and find the right local partners so that legal approval could be sought with ease.

PM Razak said he feels very positive towards the two-way trade between the two countries, adding that based on the current investment trend, Malaysia and Vietnam can achieve the total trade target of 11billion USD by 2015.

Malaysia is the eight largest investor in Vietnam with total approved investments of 10.4billion USD involving 455 projects.-VNA