Malaysia Eyes Stronger Economic Ties With Vietnam In Emerging Industries - PM Anwar

VIENTIANE, Oct 10 (Bernama) -- Malaysia is aiming to strengthen economic cooperation with Vietnam by exploring opportunities for private sector involvement in emerging industries.

Prime Minister Datuk Seri Anwar Ibrahim 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.

"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," Anwar said in a statement on Thursday.

Anwar had earlier held a bilateral meeting with his Vietnamese counterpart, Prime Minister Pham Minh Chinh, on the sidelines of the 44th and 45th ASEAN Summits in Vientiane, Laos.

He also stated that Malaysia is ready to assist Vietnam in enhancing its fisheries monitoring, control, and enforcement systems by sharing best practices.

Another area of collaboration discussed was the halal industry, with Malaysia, a global leader in halal certification, expressing its readiness to work closely with Vietnam.

"Malaysia is prepared to offer expertise in halal certification and compliance, which could open new opportunities for Vietnam in the global halal market," he said.

Hanoi is Malaysia’s 12th-largest trading partner globally and its fourth-largest trading partner in ASEAN, after Singapore, Indonesia and Thailand.

In July, it was reported that the two countries agreed to strive for a bilateral trade turnover target of US$18 billion as soon as possible, by creating favourable conditions for products and services, including halal goods, to enter the consumer markets of both nations.

-- BERNAMA