Malaysian Minister of International Trade and Industry Mohamed Azmin Ali (Photo: Reuters) Kuala Lumpur (VNA) – Being theninth-largest foreign investor, Malaysia’s presence in Vietnam is a positivetrajectory for strengthening bilateral trade between the two countries, makingVietnam an important investment destination, especially in utilities,manufacturing and real estate development, said a Malaysian official.
Malaysian Minister of InternationalTrade and Industry (MITI) MohamedAzmin Ali, in his recent tweet, stressed that “it is a matter of pride to see prominent Malaysian companies investing andoperating in contributing to the socio-economic advancement by way of providingemployment to the Vietnamese people, while availing the vast opportunities tocompete on a global scale”.
While the COVID-19 pandemic has impacted businesses and trade activities,nevertheless, given the high percentage of the adult population being fullyvaccinated, both countries are set to move towards transitioning to the endemicphase where international borders are opened, he said.
High-end apartment projects in Gamuda Gaderns urban area in Hanoi invested by Malaysia real estate group Gamuda Land (Photo: VNA)
Azmin said trade willget more seamless when disruptions to the supply chain are reduced.
The Vietnamese businesscommunity should take the opportunity on the expanded market access as it wouldprovide intra-regional sourcing of raw materials at a competitive cost, thusfurther deepening the supply chain integration within the region, he noted.
The Malaysian minister also mentioned his meeting with theVietnamese business community, saying that it was a very good exchange of views.
“I listened to the candid and frank perspectives and there is much merit insome of the very constructive suggestions made which MITI will follow through”,he said.
Azmin said it is noteworthythat many Vietnamese companies employ a sizable number ofMalaysians at both personnel and management levels, with most Malaysiansconsidering Vietnam as their second home.
"It was interesting to hear that GAMI Group is interested in pursuingcollaboration with Malaysian companies on electric vehicle (EV) projectswhereas VietJet is ready to fly to Kuala Lumpur and in fact, will resume theirroute between Vietnam and Malaysia starting April 1, 2022.”
Vietnam’s Hoa Binh Construction Group is very supportiveand receptive of incorporating environmental, social and governance (ESG)elements into their business operations and plans on real estate development,he said, adding that the ties suit well with Malaysia’s national investmentaspirations that place ESG as one of its core pillars./.
