Despite difficulties and challenges caused by the COVID-19 pandemic, Vietnam - Malaysia trade has recorded positive signals, potentially achieving a two-way turnover of 18 billion USD in 2025, according to Malaysia External Trade Development Corporation (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman.
Malaysia External Trade Development Corporation (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman (Photo: VNA)
Kuala Lumpur (VNA) - Despite difficulties and challenges caused by the COVID-19 pandemic, Vietnam - Malaysia trade has recorded positive signals, potentially achieving a two-way turnover of 18 billion USD in 2025, according to Malaysia External Trade Development Corporation (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman.
Talking to the Vietnam News Agency on the occasion of the upcoming official visit to Vietnam by Malaysian Prime Minister Dato' Sri Ismail Sabri bin Yaakob on March 20-21, Raja Badrulnizam said Vietnam is the 11th biggest trade partner and the 7th largest export market of Malaysia.
According to the Department of Statistics Malaysia (DOSM), the bilateral trade reached 16.71 billion USD last year, up 41.6 percent compared to 2020.
The figures show a positive development since the two countries established diplomatic relations in 1973 and upgraded their ties to a strategic partnership in 2015.
Raja Badrulnizam revealed that his country’s trade has improved exponentially with a remarkable mark on trade, export and import.
He affirmed that the Regional Comprehensive Economic Partnership (RCEP) which entered into force in early 2022, in which both Malaysia and Vietnam completed their ratification process, will contribute to boosting the bilateral trade.
To promote the Malaysia - Vietnam trade, especially to increase Malaysia's exports to the Vietnamese market in particular and regional countries in general, MATRADE has set out three agendas in combination with creating favourable conditions for Malaysian businesses to invest and export abroad, he added.
The agendas focus on building a sustainable business environment, digitising trade activities, and implementing specific initiatives on the basis of Malaysia’s national trade master plan.
The official invited Vietnamese businesses to participate in the 18th Malaysia International Halal Showcase (MIHAS) 2022 which will take place from September 7-10.
As the world's largest Halal exhibition centre, MIHAS will be the best opportunity for Vietnamese companies to expand their Halal market, he noted./.
Malaysian media have highly assessed Vietnam after the reigning champions defeated Malaysia 3-0 in their match on December 12 at the ongoing AFF Suzuki Cup 2020 in Singapore.
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).
President Nguyen Xuan Phuc said he wants Vietnam and Malaysia to lift bilateral trade to 20 billion USD by 2025 during a reception for outgoing Ambassador of Malaysia to Vietnam Dato Sharifah Norhana Syed Mustaffa on January 20 afternoon.
The upcoming visit to Vietnam by Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob from March 20-21 is expected to open up opportunities to elevate the bilateral strategic partnership to a new height, Vietnamese Ambassador to Malaysia Tran Viet Thai told the Vietnam News Agency (VNA)’s correspondents in Kuala Lumpur.
The official visit to Vietnam by Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob on March 20 - 21 is expected to help intensify the two countries’ strategic partnership in a more substantive manner.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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.
Malaysia External Trade Development Corporation (MATRADE) Director of ASEAN and Oceania Raja Badrulnizam Raja Kamalzaman (Photo: VNA) 
