Dialogue seeks to increase Vietnam’s exports to Malaysia
Vietnam and Malaysia are aiming to achieve 15 billion USD in two-way trade by 2020, a goal the two nations’ leaders set, Vietnamese Ambassador Pham Cao Phong told a dialogue with Malaysian importers.
Vietnamese Ambassador Pham Cao Phong (Source: VNA)
KualaLumpur (VNA) – Vietnam and Malaysia are aiming to achieve 15billion USD in two-way trade by 2020, a goal the two nations’ leaders set,Vietnamese Ambassador Pham Cao Phong told a dialogue with Malaysian importersin Kuala Lumpur on December 8.
Attendingthe event were 20 Malaysian firms which import agro-forestry-fisheries, ironand steel products from Vietnam.
Phong saidthe dialogue aims to acquire feedback to achieve the goal.
Participantsput forward proposals to increase Vietnam’s exports, including conducting moremarketing campaigns at home and abroad and improving the quality of foodpreservation.
Several firmsexpressed interest in building a processing plant and a preservation warehousein Vietnam.
Phonganswered Malaysian importers’ questions and pledged to convey their suggestionsto Vietnamese authorities.
The embassyand Malaysian firms agreed to establish the Malaysia-Vietnam Trade Office inMalaysia, which will group Malaysian firms doing business in Vietnam.
Accordingto the General Statistics Office, two-way trade hit 6.8 billion USD in thefirst ten months of this year, up 3.4 percent annually. Vietnam exported 2.7billion USD worth of goods to Malaysia, down 14 percent, and spent 4.1 billionUSD on imports, an 18.8 percent increase./.
Vietnam and Malaysia signed a cooperation agreement on Nov 6, enabling both sides to increase information sharing and training coordination and ensure aviation safety and and security.
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Malaysian Foreign Minister Anifah Aman have agreed on initiatives to further bilateral strategic partnership.
Capital from regional neighbours into Vietnam is increasing, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI) said.
The Vietnam National Oil and Gas Group had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the countries.
Vietnam and Malaysia should work out specific, practical measures to achieve their trade target of 15 billion USD by 2020, President Tran Dai Quang has said.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Vietnamese Ambassador Pham Cao Phong (Source: VNA) 
