Vietnam, Malaysia see myriad development, investment opportunities: expert

A art performance at the ceremony to mark the 50th founding anniversary of diplomatic relations between Vietnam and Malaysia. (Photo: Consulate General of Malaysia in HCM City )

Hanoi (VNA) – With Malaysia having numerous manufacturing and processing facilities and research centres, and Vietnam possessing a young and highly skilled workforce with good professional expertise, the combination of these factors can create myriad development and investment opportunities, said a Malaysian expert.

Associate Professor Dr. Awang Azman Bin Awang Pawi from the Universiti Malaya, made the assessment in an interview with the Vietnam News Agency in Kuala Lumpur at the outset of Malaysian Prime Minister Anwar Ibrahim's official visit to Vietnam on July 20-21.

The expert expressed his confidence that intentions for cooperation, investment, and development of the Vietnamese and Malaysian PMs will contribute to the countries’ growth across various fields, not only limited to the import and export of farm produce and seafood. He underscored that given ASEAN’s integration, Vietnam and Malaysia can focus on enhancing their import-export capabilities across multiple sectors.

Associate Professor Dr. Awang Azman Bin Awang Pawi from the Universiti Malaya (Photo: VNA)

According to Awang, the growth of their bilateral investment and trade will reduce the dependency of both nations on international markets outside ASEAN. Strengthening commercial engagements between the sides will maximise profits for their businesses and enhance the contributions of the agriculture and fisheries sectors to their economies, thereby spurring the prosperity of ASEAN.

He noted that at the present time, the bilateral cultural interactions and exchanges between Vietnamese and Malaysians are on the rise, resulting in workforce development, cultural diversity, better employment and investment chances, and new cooperation prospects. As per incomplete statistics, there are currently over 30,000 Vietnamese people living, working, and studying in Malaysia.

According to the expert, the two countries established diplomatic relations in 1973. Over the past five decades, they have signed numerous memorandums of understanding across the fields of diplomacy, defense, labour, and information technology, among many others.

At multilateral forums, they share common concerns, including ASEAN's perspectives on national and global security, the implementation of the Declaration on the Conduct of Parties in the East Sea (DOC), as well as peace and stability in the region./.

VNA