Vietnam boasts potential waiting to be exploited: Malaysian minister

Kuala Lumpur (VNA) – Being the
ninth-largest foreign investor, Malaysia’s presence in Vietnam is a positive
trajectory for strengthening bilateral trade between the two countries, making
Vietnam an important investment destination, especially in utilities,
manufacturing and real estate development, said a Malaysian official.
Malaysian Minister of International
Trade and Industry (MITI) Mohamed
Azmin Ali, in his recent tweet, stressed that “it is a matter of pride to see prominent Malaysian companies investing and
operating in contributing to the socio-economic advancement by way of providing
employment to the Vietnamese people, while availing the vast opportunities to
compete 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 fully
vaccinated, both countries are set to move towards transitioning to the endemic
phase where international borders are opened, he said.

Azmin said trade will
get more seamless when disruptions to the supply chain are reduced.
The Vietnamese business
community should take the opportunity on the expanded market access as it would
provide intra-regional sourcing of raw materials at a competitive cost, thus
further deepening the supply chain integration within the region, he noted.
The Malaysian minister also mentioned his meeting with the
Vietnamese 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 in
some of the very constructive suggestions made which MITI will follow through”,
he said.
Azmin said it is noteworthy
that many Vietnamese companies employ a sizable number of
Malaysians at both personnel and management levels, with most Malaysians
considering Vietnam as their second home.
"It was interesting to hear that GAMI Group is interested in pursuing
collaboration with Malaysian companies on electric vehicle (EV) projects
whereas VietJet is ready to fly to Kuala Lumpur and in fact, will resume their
route between Vietnam and Malaysia starting April 1, 2022.”
Vietnam’s Hoa Binh Construction Group is very supportive
and 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 investment
aspirations that place ESG as one of its core pillars./.