Việt Nam remains prime destination for Malaysian investors: MBCV

Malaysian Business Chamber Vietnam participate in a discussion panel at the ASEAN Business Summit 2024. – Photo Courtesy of Malaysian Business Chamber Vietnam

CAMBODIA -- Việt Nam’s strategic policies, young workforce, and increasing focus on sustainability make it a prime destination for Malaysian investors, aligning closely with the vision of Malaysian business leaders, affirmed Angus Liew, president of the Malaysian Business Chamber Vietnam (MBCV)

The affirmation was made at the ASEAN-Malaysian Business Chambers Summit in Cambodia, which underscored the unity and influence of Malaysian business communities across Southeast Asia, further strengthening regional economic co-operation.

The summit, organised by the Malaysian Business Chamber Cambodia, highlighted the collective influence of Malaysian business chambers across ASEAN.

For the first time, chambers from Việt Nam, Thailand, Laos, Myanmar, the Philippines, and Indonesia came together under the unified platform of MBCs ASEAN, emphasising the importance of collaboration in promoting cross-border trade and investment.

The summit, which featured 300 participants, provided a valuable platform for networking, collaboration, and knowledge sharing with fellow Malaysians.

Experts and businesses at the summit confirmed that Việt Nam continues to be a key economic force within ASEAN, showcasing remarkable resilience and opportunity.

With GDP growth projected at 6.1 per cent in 2024 and foreign direct investment exceeding US$20 billion, the nation is strengthening its position as a hub for regional and global trade.

The MBC Vietnam representative emphasised the importance of leveraging collective expertise to unlock new opportunities. Their efforts have been instrumental in strengthening partnerships between Malaysian businesses in Việt Nam and their ASEAN counterparts, fostering innovation and supporting Việt Nam’s growing focus on green and sustainable development.

Under the guidance, MBC Vietnam has facilitated key foreign investment projects, promoted bilateral trade, and supported Việt Nam's ambitious economic transformation. The chamber’s initiatives align with Việt Nam’s evolving economic landscape, which prioritises sustainability, digital transformation, and diversified trade partnerships.

Malaysia is currently Việt Nam's second-largest trading partner in ASEAN and the 11th largest trading partner global, with two-way trade increasing from over $8 billion to over $14 billion between 2014 and 2022.

In the foreseeable future, the two nations hope to raise the amount to $18 billion.

Malaysia is also the second-largest ASEAN investor in Việt Nam and ranks 11th among 143 nations and territories investing in the country, with a total registered capital of over $13 billion.

The ASEAN-Malaysian Business Chambers Summit 2024 serves as a testament to the power of regional collaboration and the vision of leaders. MBC Vietnam’s role in driving economic development and fostering partnerships underscores its commitment to building bridges between Malaysia and Việt Nam.

"MBCV is committed to fostering stronger ties between Malaysian businesses in Việt Nam and our ASEAN neighbours. We look forward to continuing to contribute to the growth and development of the Malaysian business community in Việt Nam and the broader ASEAN region," Liew said. – VNS