Malaysian PM encourages business expansion in Vietnam

(VOV) - Malaysian PM Najib Tun Razak has called on Malaysian businesses investing in Vietnam to seize opportunities to expand operations supported by the two countries’ growing ties.

Addressing a meeting with representatives of Vietnamese and Malaysian businesses in Hanoi on April 5, Najib also called on Vietnamese companies to boost investment and trade ties with Malaysia.

He said Malaysia and Vietnam are to raise their relations to a strategic partnership level, creating a prerequisite for the two business communities to increase investment.

He told Malaysian reporters after the meeting that Vietnam is equitizing 500 State owned companies, offering Malaysian businesses plenty of opportunity in the country.

The PM asked Malaysian businesses to thoroughly study Vietnam’s culture and business landscape and seek appropriate partners to operate efficiently in the country.

He revealed that given positive signs in bilateral relations, Malaysia and Vietnam are on track to achieve the US$11 billion trade target set for 2015.

Malaysia is currently Vietnam’s 8th biggest foreign investor with 455 projects capitalised at US$10.4 billion.
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