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Guests take a look at Vietnamese merchandise displayed at a gathering on Thursday in HCM Metropolis. — Photograph courtesy of the HCM Metropolis Funding and Commerce Promotion Centre
HCM CITY — Việt Nam and Malaysia have nice potential to advertise commerce and funding with Malaysia being one of the vital vital importers of Vietnamese items in Southeast Asia within the post-pandemic interval, a HCM Metropolis official stated.
Talking at a gathering on June 2, Trần Phú Lữ, deputy director of the HCM Metropolis Funding and Commerce Promotion Centre (ITPC), stated key Vietnamese exports to Malaysia embody equipment and gear and their elements, computer systems, electronics and parts, metal, petroleum, and chemical substances.
“The 2 nations have set a commerce goal of US$25 billion by 2030.”
“The current go to by Malaysian Prime Minister Dato’ Sri Ismail Sabri bin Yaakob to Việt Nam in March confirmed the strategic relationship between the 2 nations.”
The Regional Complete Financial Partnership (RCEP), the worldwide commerce deal which took impact early this yr, would assist increase bilateral commerce, he added.
Final yr, Malaysia was the ninth largest commerce associate for Việt Nam.
Việt Nam was the eleventh largest commerce associate and seventh largest export marketplace for Malaysia with their commerce rising by practically 25 per cent to $11.8 billion in 2021.
In accordance with the Normal Division of Customs, the determine for the primary 4 months of this yr was an estimated $5 billion, up 15 per cent year-on-year.
Việt Nam’s exports to Malaysia have been value practically $1.7 billion within the first 4 months, up 12 per cent year-on-year.
Halal business
The Malaysian Halal market was value $3.1 billion final yr and is anticipated to develop to $5 billion by 2030, and Việt Nam might export this product to the nation, in line with Lữ.
Malaysia presently ranks eighth out of the 140 nations and territories which have invested in Việt Nam, with 664 tasks value $13 billion as of the top of 2021.
Việt Nam has 21 tasks in Malaysia with registered capital of $853 million, the ninth largest of its 78 abroad funding locations. — VNS
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