Vietnamese Ambassador Le Quy Quynh (R) and Chairman of the Malaysia-Vietnam Chamber of Commerce Howard Choo (Photo: VNA)KualaLumpur (VNA) – Trade and investment ties between Vietnam andMalaysia are expected to enjoy a new driving force created by the recentlyestablished Malaysia-Vietnam Chamber of Commerce (MVCC).
Key leaders of the MVCC officially made debut inMalaysia on November 2 at an event attended by representatives of the Embassyand trade office of Vietnam, some major Vietnamese businesses, and manyMalaysian firms that have business partnerships with Vietnam.
In his speech, Vietnamese Ambassador Le QuyQuynh reviewed bilateral trade and investment relations, elaborating thatVietnam is currently the fourth biggest ASEAN trade partner of Malaysia.Bilateral trade surpassed 10 billion USD in 2016.
Meanwhile, Malaysia is the seventh largestforeign investor in Vietnam with total FDI of 914 million USD as of December2016. Big Malaysian enterprises like Petronas, SP Setia, Emivest, Berjaya Landand Gamuda have been operating in Vietnam.
Quynh stressed that the MVCC will be a bridgelinking Malaysian businesses with Vietnamese partners, thus creating morebusiness and investment opportunities and contributing to each country’sprosperity.
[Vietnam, Malaysia vow to step up strategic partnership]
He added the Vietnamese Embassy will coordinateclosely with the MVCC to strengthen trade-investment ties, including raisingbilateral trade to 15 billion USD in 2020 as targeted by the two countries’leaders.
With a view to boosting trade, the MVCC willhelp develop joint ventures between Vietnamese and Malaysian private companies,organise trade delegations’ visits to Vietnam and hold forums to discuss issuesof shared concern, according to MVCC Chairman Howard Choo.
Malaysia’s Minister of International Trade andIndustry Mustapa Mohamed expressed his interest in the MVCC’s foundation andasked the chamber to organise trade forums between the two countriesannually.-VNA
VNA
