(VOV) – Vietnamese businesses are encouraged to penetrate deep into Malaysia – a potential market in Southeast Asia.
- Malaysian giant joins US$3.5 billion power plant
- Vietnam’s Malaysian exports increase by 23.2 percent
- Vietnam, Malaysia hold business forum
The Vietnam Chamber of Commerce and Industry (VCCI) says Malaysia’s demand for imported goods has increased over the years, from just US$117 billion worth of imports in 2009 to US$153 billion in 2010 and US$168 billion in 2011.
For the first time in the past decade Vietnam achieved a trade surplus of nearly US$1.1 billion with Malaysia in 2012. Two-way trade also rose 17% last year to US$7.9 billion.
Vietnam Customs statistics show that Vietnam-Malaysia trade continued to grow and flourish in the first seven months of this year, with Vietnamese exports generating US$2.87 billion.
Construction steel is one of Vietnam's major export items to Malaysia
Major export items include crude oil, rubber, rice, computers and spare parts, phone handsets and spare parts, coffee, seafood, steel, vehicles, machinery and equipment.
Vietnam mainly imports oil and fat, oil and petrol, chemicals, plastic materials, timber and dairy products from Malaysia.
Shazryll Zahiran, Malaysian Consul General in HCM City, says both countries have signed a total of 13 agreements, creating plenty of opportunity to increase bilateral cooperation in investment, trade, banking, education, tourism, labour, sports, security and national defence.
Vu Van Canh, Vietnamese trade counsellor in Malaysia, says bilateral trade is expected to reach a record high this year as the Malaysian economy has already recovered from the global economic slowdown and is developing well.
According to Canh, two-way trade this year is estimated at between US$8.5-9 billion, of which US$5.2 billion is from Vietnamese exports, mostly crude oil, rubber, rice, steel, and electronic appliances.
Malaysia is one of the big foreign investors in Vietnam. As of July 20, 2013 Malaysia invested in 445 projects capitalised at US$10.2 billion in Vietnam, ranking it 8th among foreign investors and 2nd among ASEAN investors in the country.
As of March 2013 Vietnam had 9 investment projects in Malaysia, with a total registered capital of US$413 million.
Đăng ký: VietNam News
