(MPI) - Minister of Planning and Investment Nguyen Chi Dung hosted a reception for Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz in Hanoi on July 8.

Minister of Planning and Investment Nguyen Chi Dung (R) and Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Photo: MPI

Welcoming Zafrul to visit Vietnam and attend the 4th session of the Vietnam-Malaysia Joint Trade Committee, Minister Dung said that he believes Zafrul’s working trip would success and make an important contribution to strengthening cooperation in the fields of trade and investment, bringing its ties towards a practical and effective direction.

He said Vietnam and Malaysia have advantages to support and complement each other in many fields, including improving the investment climate and joining deeply in the value chain.

The minister suggested Malaysian businesses see Vietnam as a promising investment destination, particularly in some prioritised industries and fields such as digital economy, green economy, and energy transition.

The Vietnamese Government always listen to, accompanies with and support foreign investors in general and those from Malaysia in particular, to invest and do business smooth and effective, he pledged. The Ministry of Planning and Investment stands ready to coordinate closely with the Malaysian Embassy to remove obstacles and difficulties encountering ongoing projects, further deepening the two countries’ partnership across all spheres.

Zafrul, for his part, emphasised that Vietnam is an important destination for Malaysian firms since they have invested in many fields such as infrastructure, real estate and environment

Regarding green technology, Zafrul affirmed that investors always support the implementation of green energy solutions, and collaborate to develop electric vehicle ecosystems and oil and gas, thereby enhancing the capacity and position of ASEAN in the world.

As of June 20, 2024, Malaysia run 745 projects with a total registered capital of 13.07 billion USD, ranking 10th out of 146 countries and territories investing in Vietnam. Their investment focused on education and training (28% of the total), processing and manufacturing industry (or 20%), and production and distribution of electricity, gas, hot water, steam and air conditioning (accounting for 20%).

34 out 63 provinces and cities of Vietnam received Malaysian investment, in which Ho Chi Minh City led with 348 projects worth 4.88 billion USD; followed by Tra Vinh, Hanoi, Binh Duong, Dong Nai and Da Nang./.

Bao Linh

Ministry of Planning and Investment