Khanh Hoa promotes investment, trade and tourism opportunities in Malaysia

The event took place amid the elevation of Vietnam-Malaysia relations to a Comprehensive Strategic Partnership in November 2024, thus offering favourable conditions for localities such as Khanh Hoa to explore new areas of cooperation.

Attended by businesses and investors from both countries, the conference also marked a step forward in strengthening economic ties between the south-central coastal province and one of ASEAN's most dynamic economies.

Opening the conference, Lu Thanh Hai, Vice Chairman of the Khanh Hoa provincial People's Council, highlighted the province's strengths as a leading coastal tourism destination with nearly 500 kilometres of coastline and more than 200 islands, as well as its increasingly diversified economic ecosystem.

Khanh Hoa has the conditions to become a regional hub for cargo transit, logistics and energy, supported by infrastructure including deep-water ports and Cam Ranh International Airport. With a goal of becoming a centrally governed smart and sustainable city by 2030, the province is opening up unprecedented investment opportunities and stands ready to support Malaysian investors, he emphasized.

Ngo Quang Hung, representing the Vietnam Trade Office in Malaysia, said the country offers strong purchasing power, with GDP per capita exceeding US$14,000, and serves as an important gateway to the global Muslim market of nearly two billion consumers.

He noted that Khanh Hoa's seafood, bird's nest products, sea grapes and nutritional foods have strong potential in Malaysia, where consumers are increasingly interested in natural and health-oriented products. He added that investment in Halal-compliant production systems could serve as a key to helping businesses expand not only into Malaysia but also into Muslim markets in the Middle East and South Asia, while similarities between the two sides' port systems may create opportunities for cooperation in the maritime economy and green energy.

A highlight of the conference was the signing of a memorandum of understanding (MOU) between the Khanh Hoa Tourism Association and the Malaysian Association of Tour and Travel Agents (MATA).

MATA President Dr Mohd Khalid Harun described the agreement as the beginning of a lasting partnership and said Malaysian tourism businesses were encouraged by information about Khanh Hoa's Muslim community and the availability of Muslim-friendly services, including Halal food and prayer facilities. He said more than 50 years of friendship between the two countries provided a strong foundation for future joint ventures and business partnerships.

Meanwhile, Alex Chee, Director of Wynn Travel, praised Khanh Hoa's proactive and professional approach to developing tourism products.

According to Chee, Malaysian travellers have a strong interest in beaches and seafood, while Nha Trang is emerging as an attractive destination thanks to its high-end resorts, natural landscapes and relaxing atmosphere. The direct flight linking Kuala Lumpur and Cam Ranh, with a travel time of about 1.5 hours, is a major advantage, and with daily services and effective promotion, Malaysian visitor arrivals to Khanh Hoa could soon reach 20,000-30,000 per year, he went on.

Hambali Mukhlas, Vice President of the Vietnam Business Association in Malaysia, said Khanh Hoa is emerging as a dynamic growth corridor in Vietnam, with strengths extending beyond tourism to projects such as a green industrial park and the Ca Na International Port. Malaysia offers global connectivity and an internationally recognised Halal ecosystem, while Khanh Hoa provides broad investment opportunities, he said, adding that closer cooperation will create greater value than either side could achieve independently.

At the conference, Khanh Hoa officials reaffirmed their commitment to further improving the investment and business environment and creating favourable conditions for Malaysian companies to implement projects in the province.

Lu Thanh Hai said feedback and proposals from Malaysian businesses and investors at the conference will serve as an important basis for the province to refine its future promotion policies, while the memoranda exchanged at the event demonstrated mutual trust and a shared commitment to long-term cooperation. The trade and investment promotion activities are expected to help usher relations between Khanh Hoa and the Malaysian market into a new stage of development, bringing practical benefits to both sides' economic development.

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