Prime Minister Chính Praises Malaysia as Major Trade and Investment Partner
Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính lauded Malaysia as one of Vietnam’s major trade and investment partners during a reception for Malaysian Minister of Investment, Trade and Industry, Zafrul Abdul Aziz, in Hanoi on Monday. Zafrul is in Việt Nam to co-chair the 4th session of the Vietnam-Malaysia Joint Trade Committee.
Prime Minister Chính emphasized Malaysia’s significant role as Vietnam’s third-largest trading partner within the Association of Southeast Asian Nations (ASEAN) and the 10th largest globally. With over US$13 billion in registered capital, Malaysia stands as the third-largest ASEAN investor in Vietnam.
Vietnam actively welcomes and encourages Malaysian businesses and investors, committing to protecting their legitimate rights and interests, ensuring fair treatment, and creating favorable conditions for foreign investors, including those from Malaysia. Aiming to achieve $20 billion in two-way trade in the coming years, Prime Minister Chính suggested that both nations continue to leverage their complementary strengths and explore innovative solutions to boost economic, trade, and investment cooperation. He also called for the integration of both countries into global value and supply chains.
The Prime Minister proposed that Malaysia facilitate the entry of Vietnamese goods, particularly processed farm produce, seafood, and food products. He also sought Malaysia’s assistance in developing the Halal industry and encouraged Malaysian investments in Vietnam, especially in digital transformation, green transition, clean energy, and wind power export. Additionally, he advocated for collaboration in emerging fields such as innovation, artificial intelligence, and cybersecurity.
To further enhance collaboration, the Prime Minister suggested sharing experiences, building joint mechanisms and policies, improving governance, transferring technology, and training high-quality human resources, particularly in emerging sectors. He emphasized the importance of fostering effective cooperation between businesses, promoting people-to-people exchanges, and enhancing tourism and cultural collaboration with flexible regulations.
On global and regional issues, Prime Minister Chính highlighted the importance of maintaining peace, stability, security, and safety of navigation and aviation in the East Sea (South China Sea), and resolving disputes peacefully in accordance with international law, especially the United Nations Charter and the 1982 UN Convention on the Law of the Sea (UNCLOS). He affirmed Việt Nam’s support for Malaysia’s ASEAN Chairmanship in 2025 and requested Malaysia’s backing for Việt Nam’s efforts to have the European Commission’s “yellow card” warning regarding illegal, unreported, and unregulated (IUU) fishing removed.
Minister Zafrul expressed his enthusiasm for strengthening bilateral economic, trade, and investment ties, particularly in areas highlighted by Prime Minister Chính, including the Halal industry, digital transformation, green transition, wind power, innovation, and artificial intelligence. He predicted that this year’s bilateral trade turnover could reach $18 billion, surpassing the target initially set for 2025.
Zafrul affirmed Malaysia’s continuous support for ASEAN’s central role in regional issues and expressed hope for Việt Nam’s continued support for Malaysia’s ASEAN Chairmanship in 2025.
