Vietnamese firms in Malaysia successfully navigate through COVID-19 crisis

Vietnamese-run enterprises have managed to keep business going in Malaysia despite COVID-19 restrictions and lockdowns, according to Nguyen Thi Thanh Van, Vice President of the Vietnam Malaysia Business Association (VMBIZ).

Throughout 2021, Malaysia has gone through a devastating time of COVID-19 when daily caseload sometimes exceeded 24,000, Van told Vietnam News Agency correspondents during a year-end ceremony to review VMBIZ’s performance this year.

Containment measures, including Restriction of Movement Order and State of Emergency, have adversely affected operation of businesses, especially those in the service industry, she said, adding that Vietnamese firms in Malaysia are no exception.

But the good news is most Vietnamese companies have quickly transformed to new business models and made good use of digital platforms to surmount difficulties, she noted.

She further said that VMBIZ has maintained its role as a bridge between Vietnamese enterprises and Malaysian partners through virtual meetings and its local representatives. The association has also enhanced corporate responsibility through charitable activities, such as donating to and providing jobs for affected Vietnamese workers.

Nguyen Hong Son, Charge d'Affaires of the Vietnamese Embassy in Malaysia, VMBIZ is a role model in adapting to the “new normal.” Its members have played a part in lifting bilateral trade between the two countries to exceed US$15 billion in 2021, he stated.

He suggested VMBIZ will organize more activities to highlight Vietnam as a trusted and promising destination for Malaysian investors in 2022.