Vietnam's potential in food industry introduced at Malaysian expo

Potential for cooperation between Vietnam and Malaysia, particularly in the food industry, has been introduced to Malaysian partners and attendees within the framework of the ongoing Selangor International Business Summit (SBIS) 2024 in Kuala Lumpur.

Vietnamese Commercial Counsellor in Malaysia Le Phu Cuong (third, right) takes a group photo with Vietnamese enterprises participating in the 10th Selangor International Expo Food & Beverage 2024 in Kuala Lumpur (Photo: VNA)
Vietnamese Commercial Counsellor in Malaysia Le Phu Cuong (third, right) takes a group photo with Vietnamese enterprises participating in the 10th Selangor International Expo Food & Beverage 2024 in Kuala Lumpur (Photo: VNA)

Kuala Lumpur (VNA) – Potential for cooperation between Vietnam and Malaysia, particularly in the food industry, has been introduced to Malaysian partners and attendees within the framework of the ongoing Selangor International Business Summit (SBIS) 2024 in Kuala Lumpur.

In his presentation, Vietnamese Commercial Counsellor in Malaysia Le Phu Cuong highlighted the remarkable growth and potential of the country’s food sector. With a population of approximately 100 million and a predominantly young workforce, Vietnam has effectively carried out its agricultural export strategies, focusing on key products such as rice, coffee, and high-quality fresh fruits.

In 2023, Vietnam's total export value of agricultural products reached 26.4 billion USD, up 17% compared to 2022. While imports of Vietnamese goods declined in Europe and the Americas, the Asian market saw a 6.8% increase in imports of agro-forestry-aquatic products.

Vietnam's key staples exported to Malaysia include tea, coffee, pepper, and rice, with rice exports alone reaching over 345 million USD last year. Notably, in the first eight months of this year, Malaysia imported as much rice from Vietnam as it did throughout 2023. Several Vietnamese fruit products, such as longan, lychee, passion fruit, and red-fleshed dragon fruit, have gained popularity in the Malaysian market.

Cuong expressed his enthusiasm about the growing number of Vietnamese businesses collaborating with the Vietnam Trade Office to showcase their products in Malaysia. He went on to say that the trade office committed to supporting businesses in finding partners and facilitate their entry into the Malaysian market, aiming to promote Vietnamese goods on the world market.

SIBS is an eagerly anticipated annual event for businesses, serving as a vital platform to promote cross-border trade, facilitate connections, showcase creativity, and expand business networks throughout the Association of Southeast Asian Nations (ASEAN). The event generated potential transaction values of up to 4 billion USD last year.

Running from October 16-19, this year’s edition features over 650 food and beverage exhibition booths and several workshops on halal standards, smart cities, and digital economy. It is expected to welcome around 12,000 visitors from 18 countries and territories, including Indonesia, China, Japan, the Republic of Korea, Vietnam, Thailand, Kenya, and Myanmar./.



VNA

See more

At an automotive exhibition in Shanghai, China. (Photo: AFP/VNA)

Chinese electric vehicles drive back into Vietnamese market

About a decade ago, Chinese car brands like Zotye Z8, Beijing X7, and Brilliance V7 entered the Vietnamese market to limited success. But a new fleet of modern Chinese vehicles began to gain traction in the Vietnam market last year.

Illustrative image (Photo: VNA)

Nearly 16 trillion VND raised through January bond auctions

The January auctions saw a strong preference for 10-year and 15-year bonds, representing 80.2% and 14.8% of the total, respectively. Specifically, 10-year bonds raised 12.81 trillion VND, while 15-year bonds garnered 2.36 trillion VND.

Thang Long ferry at Cau Da port in Ba Ria - Vung Tau province. (Photo: VNA)

Vung Tau - Con Dao high-speed ferry reoperated

The high-speed ferry service connecting Vung Tau city and Con Dao island in the southern province of Ba Ria-Vung Tau and vice versa was resumed on February 7 by Phu Quoc Express JSC after a 5-month suspension.

At the working session between the Vietnam Directorate of Market Surveillance and the US Embassy over counterfeit Sunview-branded raisins in Hanoi on February 7. (Photo: dms.gov.vn)

Vietnam, US tackle counterfeit Sunview-branded raisins

Statistics showed that since 2024, there have been 27 documented cases involving Sunview raisins, resulting in fines of over 536 million VND (21,440 USD), primarily due to the sale of smuggled goods and products of unclear origin.

The VF3 model manufactured by VinFast is the most popular model in Vietnam's market. ( Photo courtesy of the company)

EVs will no longer be exempt from registration fees

Instead of enjoying a zero percent registration fee, battery-powered electric vehicles (EVs) will be required to pay 50% of the fee applicable to internal combustion engine cars with the same seating capacity.

Thuan An Fishing Port (Photo: tuoitrethudo.vn)

Thuan An fishing port opens, boosting Hue’s seafood industry

The second docking area of Thuan An Fishing Port has a minimum cargo handling capacity of 20,000 tonnes per year, and is capable of simultaneously accommodating 500 fishing vessels of at least six metres in length for docking and storm shelter.

Vietnamese prefer buying gold to mark God of Wealth Day (Photo: VNA)

Gold prices up again on God of Wealth Day

Gold prices surged significantly, exceeding the threshold of 90 million VND (3,550 USD) per tael at the opening session of the God of Wealth Day on February 7 (the 10th day of the first lunar month).