The Vietnam-Malaysia Business Connection 2023 was organised by the Vietnam Trade Office in Malaysia and the Department of Economic Affairs under the Ministry of National Defence in Kuala Lumpur on October 27.
Kuala Lumpur (VNA) – The Vietnam-Malaysia Business Connection 2023was organised by the Vietnam Trade Office in Malaysia and the Department of Economic Affairs under the Ministry of National Defence in Kuala Lumpur on October 27.
The workshop opened up new cooperation prospects for the two nations, including military businesses. They found distributors and importers in the fields ofindustrial explosives, garments and textiles, leather shoes and raw rubber, while boostingdeep cooperation in the fields of military and construction.
Vietnamese Trade Counsellor Le Phu Cuong briefed participants of theMalaysian market with more than 33 million people and GDP in 2022 reaching337.69 billion USD.
Malaysia is an open economy, he said, adding trade and investment play animportant role in generating jobs and increasing incomes for local people.
Last year, Vietnam exported 5.57 billion USD worth of products to the country,while splashing 9.1 billion USD on Malaysian goods, he added.
Meanwhile, Deputy Director of the Department of Economic Affairs Pham Toan Thang said theMinistry of National Defence is managing 104 businesses which are operating in various fields such as finance-banking, telecommunications, garment and textiles, leather shoes,pharmaceuticals and construction.
Several corporations have reached out to the world such as Viettel MilitaryIndustry and Telecoms Group and Sai Gon Newport Corporation, helping unlockcooperation potential between the two countries, he stressed.
Two Memoranda of Understanding are inked between the two sides. (Photo: VNA)
In the framework of the workshop, two Memoranda of Understanding were inkedbetween the two sides, marking a milestone of the commitment to enhancing tradepromotion activities between Vietnam and Malaysia and between state managementagencies of both nations in particular.
Lee Pang, a member of the international business committee under the National Chamber ofCommerce and Industry Malaysia (NCCIM), expressed her hope that Vietnamand Malaysia will continue to capitalise on their strengths towards prosperousdevelopment.
The NCCIM commits to creating favourable conditions for enterprises and forminga vibrant stable business environment between the two countries, she said.
Meanwhile, chairman of the business council under the Malaysia-Vietnam Friendship Association Hambali Mukhlas noted his expectations on the bilateralcooperation in Halal industry – the field that Malaysia has well-developedinfrastructure while Vietnam holds huge potential in material and humanresources./.
Ties between Vietnam and Malaysia have grown strongly over the past 50 years since the establishment of diplomatic relations with substantial outcomes in all fields, stated Chairman of the National Assembly Committee for External Relations Vu Hai Ha.
Malaysia sincerely hopes Vietnam will continue developing prosperously, and the Malaysia-Vietnam friendship will get closer and closer, new Malaysian Consul General in Ho Chi Minh City Firdauz Bin Othman has affirmed.
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In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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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.
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Participants at the workshop (Photo: VNA) 
Two Memoranda of Understanding are inked between the two sides. (Photo: VNA) 
