Malaysia seminar promotes Vietnam as investment destination
VOV.VN - Vietnam-Singapore Industrial Park (VSIP) J.V. Co and other partners coordinated with the trade office of the Vietnamese embassy in Malaysia to host a seminar on July 26 to promote Vietnam as a promising investment destination.
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Malaysia is currently Vietnam’s eighth largest trading partner and is also the second biggest trading partner of Vietnam among ASEAN countries, after Thailand. As of June, Malaysia had 577 investment projects capitalized at more than US$12 billion in the country. In the first half of the year, bilateral trade increased by 21% to more than US$5.8 billion compared to last year’s corresponding period.
These are important premises for both nations to continue strengthening their relations in multiple arenas, including investment.
John Campbell, the Senior Consultant for Industrial Services at Savills Vietnam, identified the country’s strengths in attracting foreign investors such as its low-cost labour, competitive prices for land rental and maritime transport costs, and its huge market with a population of more than 92 million people. A significant boon is that Vietnam has signed major Free Trade Agreement (FTAs) with the EU, the Republic of Korea and the recent Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
At the seminar, representatives from VSIP and KPMG Malaysia also introduced other attractive elements of Vietnam’s investment climate such as preferential tax incentives.
