Prime Minister Pham Minh Chinh attended the Vietnam–Malaysia Business Meeting in Kuala Lumpur on May 25, part of his ongoing official visit to the country.
The PM called on businesses to actively contribute to enhancing ASEAN connectivity, including between Vietnam and Malaysia, and to promote cooperation in green economy, innovation, science-technology, digital transformation, and green energy.
He also highlighted the need revitalise traditional growth drivers such as investment, exports, and consumption.
Briefing the participants on Vietnam’s situation, the leader said from a poor, war-torn, agriculture-based country, Vietnam has risen to rank among the world’s 34 largest economies.
It is also among the top countries in foreign direct investment (FDI) attraction and one of the world’s 20 leading economies in terms of trade. The country has signed 17 free trade agreements with more than 60 economies.
Vietnam aims for GDP growth of at least 8 percent in 2025 and double-digit growth during the 2026–2030 period, the leader continued.
The country is committed to building an independent and self-reliant economy, while proactively and actively engaging in extensive, substantive, and effective international integration, he said.
PM Pham Minh Chinh stressed that alongside implementing three strategic breakthroughs in infrastructure, institution, and human resources, Vietnam has focused on streamlining its organisational apparatus, and creating a more favourable environment for production, investment, and business.
It is also driving breakthroughs in science-technology, innovation, and digital transformation; positioning the private sector as one of the most important engines of the economy; and promoting international integration in the new context while expanding relations with countries and international partners, he said.
The leader called on foreign enterprises, including those from Malaysia, to continue cooperating and investing in Vietnam, and pledged to facilitate their operations.
The participating businesses expressed their delight at the positive development in Vietnam–Malaysia relations, especially following the establishment of the Comprehensive Strategic Partnership.
They shared the view that economic, trade, and investment cooperation is a highlight in the bilateral relationship.
Malaysia is currently Vietnam’s third-largest trading partner within ASEAN and the ninth-largest worldwide. Bilateral trade has continuously increased, reaching US$14.2 billion in 2024, with a target of $18 billion this year. Malaysia ranks 10th among 143 countries and territories investing in Vietnam, with total registered capital of $13 billion.
Lauding Vietnam’s role and position within ASEAN and globally, as well as its favourable investment environment, the firms noted that the two countries possess strategic and complementary strengths that should be leveraged for cooperation.
This would provide businesses from both sides with better opportunities to access each other’s markets, especially in emerging areas with great potential such as halal industry, garment, green economy, innovation, science and technology, digital transformation, green energy, infrastructure development, and maritime economy, they said.
They emphasised that, amid current global uncertainties, both sides need to maximise the cooperative mechanisms they are jointly involved in to promote each country’s development, for the sake of peace, stability, cooperation, and development in the region and the world at large.
