Prime Minister Pham Minh Chinh attended the Vietnam–Malaysia business meeting on the morning of May 25 in Kuala Lumpur, with a view to promoting cooperation, investment, and trade between enterprises from both nations, as part of his official visit to Malaysia,

At the meeting, business communities from both countries expressed their satisfaction with the positive development in Vietnam–Malaysia relations, especially after the two countries upgraded their relationship to a comprehensive strategic partnership. Economic, trade, and investment cooperation were highlighted as one of the bright spots in bilateral ties.

Malaysia is currently Vietnam’s third-largest trading partner within ASEAN and the ninth-largest trading partner globally. Two-way trade turnover between the two countries has continuously increased, reaching US$14.2 billion in 2024, with a target of US$18 billion by 2025. Malaysia ranks tenth among 143 countries and territories investing in Vietnam, with total registered capital of US$13 billion.

Appreciative of Vietnam’s role and position within ASEAN and globally, as well as Vietnam’s highly favorable investment environment, the delegates noted that the two countries possess strategic and complementary advantages that should be utilized for stronger cooperation. This will allow enterprises better access to each other’s markets, especially in new areas with huge potential such as the halal industry, garment manufacturing, green economy, innovation, science and technology, digital transformation, green energy, infrastructure development, and maritime economy.

Amid global fluctuations, both sides need to maximize the cooperation mechanisms they participate in to promote their development for peace, stability, cooperation, and development in the region and worldwide, they stressed.

Acknowledging delegates’ opinions on strengthening business and economic ties, PM Chinh said that in a rapidly changing world, businesses, peoples, and nations must reinforce solidarity and uphold multilateralism to deal with global issues, including those affecting enterprises and countries, while ensuring fairness and equality with no one left behind.

He called on enterprises to actively contribute to enhancing ASEAN connectivity, including the Vietnam–Malaysia connection;  bolster cooperation in green economy, innovation, science and technology, digital transformation, and green energy; while revitalizing traditional growth drivers such as investment, exports, and consumption.

Regarding Vietnam’s situation, the Government leader said that from a war-ravaged, underdeveloped agricultural country, Vietnam has risen to become one of the world’s top 34 economies, a leading destination for foreign direct investment, and one of the top 20 trading economies. It has also signed 17 free trade agreements with more than 60 economies.

Vietnam targets GDP growth of at least 8% in 2025 and aims for double-digit growth between 2026 and 2030. The country is pursuing an independent and self-reliant economy, while actively and substantively engaging in global integration to catch up, move forward in tandem, and help shape common agendas for the benefit of all parties.

The country aims for a GDP growth of at least 8% in 2025 and strives for double-digit growth during 2026–2030. The country pursues an independent, autonomous economy, proactively and deeply integrating internationally in a practical and effective manner to catch up, advance alongside, and participate in leading common issues for the benefit of all parties.

Along with implementing three strategic breakthroughs in infrastructure, institutions, and human resource development, Vietnam is successfully carrying out organizational reforms to streamline its apparatus; focusing on removing institutional, human resource, and infrastructure bottlenecks; creating a favorable environment for production, investment, and business; making breakthroughs in science and technology, innovation, and national digital transformation; developing the private sector as the most important driver of the national economy; and expanding international integration under new circumstances, broadening relations with countries and international partners.

Calling on Malaysian and other investors to deepen cooperation and investment in Vietnam, the Vietnamese cabinet leader reaffirmed the country’s commitment to building a transparent, fair, and supportive business environment that respects property rights, fair competition, and the legitimate interests of enterprises, based on principles of shared effort, mutual benefit, and accountability.

He urged FDI enterprises, especially Malaysian companies, to maintain trust and close ties with Vietnam throughout its development; continuously contributing to the prosperity of both countries, and the Vietnam–Malaysia comprehensive strategic partnership for peace, stability, and development in the region and the world.

PM Chinh leaves Hanoi for official visit to Malaysia, ASEAN Summit

VOV.VN - Prime Minister Pham Minh Chinh and his spouse departed Hanoi on May 24 evening for an official visit to Malaysia and attendance at the 46th ASEAN Summit and related high-level meetings in Kuala Lumpur, at the invitation of Malaysian Prime Minister Anwar Ibrahim and his spouse.

Ambassador anticipates Vietnamese PM’s fruitful visit to Malaysia

Malaysian Ambassador to Vietnam Dato' Tan Yang Thai has anticipated that Prime Minister Pham Minh Chinh’s official visit to Malaysia and attendance at the 46th ASEAN Summit and related meetings in Kuala Lumpur from May 24-28 will deliver fruits and further solidify political trust between leaders.