Malaysia to open trade and industry office in Vietnam
The Malaysian Ministry of International Trade and Industry (MITI) will open a representative office in Hanoi latter this year to embrace economic links with Vietnam.
Workers process tra fish for export at Go Dang Seafood JSC in southern Tien Giang province (Photo: VNS/VNA)
The Malaysian Ministry of International Trade and Industry (MITI) will open a representative office in Hanoi latter this year to embrace economic links with Vietnam.
Minister Mustapa Mohamed made the announcement to reporters after his attendance at a dialogue with members of the ASEAN Business Club (ABC) in Kuala Lumpur on August 8.
The move is expected to support operations of the Malaysia External Trade Development Corporation (MATRADE)’s office in the capital city of Vietnam, he said, adding that it also illustrates Malaysia’s treasured friendship with its neighbour.
The MITI opened representative offices in Singapore, Indonesia, India, Thailand and the US, he revealed.
In his speech at the dialogue with ABC members, Minister Mustapa Mohamed said he sees enormous economic potential between Malaysia and Vietnam with bilateral trade recording two-digit growth over the past decade.
Vietnam and Malaysia reached specific agreements to increase cooperation across fields such as in oil and gas, liquefied petroleum gas, energy, finance-banking, agro-forestry-fisheries processing and food.
The two countries agreed to increase trade to at least 15 billion USD in 2020. Trade is expected to reach 10 billion USD this year.
Malaysia is one of Vietnam’s leading trade partners in the Association of Southeast Asian Nations🐭 (ASEAN). It is the 8th biggest investor of Vietnam with foreign direct investment w🌠orth 11 billion USD.-VNA
Cooperative ties between Vietnam and Malaysia have been growing encouragingly in many areas from politics and diplomacy to economics, trade, investment, security, defence, education and training and labour.
Two-way trade turnover between Vietnam and Malaysia has hit 4 billion USD this year making the target of 7 billion USD within reach in the next few years, said a Malaysia diplomat.
Malaysian King Abdul Halim Mu’adzam’s State-level visit to Vietnam from September 5-8 is expected to boost bilateral cooperation, especially in such key sectors as economics, trade and labour, towards the building of a strategic partnership.
The third meeting of the Vietnam-Malaysia trade joint committee took place in Kuala Lumpur on April 25, targeting measures to further intensify economic and trade cooperation.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Workers process tra fish for export at Go Dang Seafood JSC in southern Tien Giang province (Photo: VNS/VNA)
