Malaysia wants to cooperate with Vietnam in emerging industries: PM Anwar
Malaysia is aiming to strengthen economic cooperation with Vietnam by exploring opportunities for private sector involvement in emerging industries, Malaysian Prime Minister Datuk Seri Anwar Ibrahim has stated.
Malaysian Prime Minister Datuk Seri Anwar Ibrahim (left) meets with Vietnamese Prime Minister Pham Minh Chinh on the sidelines of the 44th and 45th ASEAN Summits in Vientiane, Laos. (Photo: VNA)
Kuala Lumpur (VNA) - Malaysia is aiming to strengthen economic cooperation with Vietnam by exploring opportunities for private sector involvement in emerging industries, Malaysian Prime Minister Datuk Seri Anwar Ibrahim has stated.
“Malaysia is keen to explore opportunities for private sector involvement in emerging value chains, particularly in the electric vehicle (EV), electronics, semiconductor, and advanced materials industries," the PM said on October 10 as cited by the national news agency Bernama.
He emphasised that Vietnam's rapid industrial growth presents significant potential for partnerships that would benefit both economies, particularly as global demand for advanced technologies rises.
Earlier, at a meeting with Vietnamese Prime Minister Pham Minh Chinh on the sidelines of the 44th and 45th ASEAN Summits in Vientiane, Laos, Anwar said Malaysia is ready to assist Vietnam in enhancing its fisheries monitoring, control and law enforcement system by sharing best practices.
The two PMs also discussed other areas of cooperation, including the halal industry as Malaysia is a global leader in halal certification.
Vietnam is Malaysia's 12th largest trading partner globally and its fourth-largest trading partner in the ASEAN, after Singapore, Indonesia, and Thailand.
In July, the two countries agreed to strive for a bilateral trade turnover target of 18 billion USD as soon as possible by creating favourable conditions for products and services, including halal goods, to enter the consumer markets of both nations./.
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The Malaysia-Vietnam Trade, Tourism & Investment Promotion and Cultural Food Festival concluded its four-day run in Kuala Lumpur on August 18, drawing hundreds of eager visitors exploring the rich cultural and business ties between the two nations.
The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
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