Malaysia is the largest ninth foreign investor in Vietnam with 173 projects capitalised at US$1.9 billion in such fields as petroleum, plastic, petrochemistry, trade and logistical services.
Malaysia is encouraging Vietnamese and Cambodian enterprises to take advantages of the ASEAN Integration System of Preferences (AISP) to expand trade relations with the country.
During a recent visit to Vietnam, Cambodia and Indonesia, Malaysian Minister of International Trade and Industry offered an exemption of import duties on many products from Cambodia and Vietnam. Malaysian enterprises attach importance to penetrating and investing in the three markets with cheap labour costs, especially in the field of industry.
Trade turnover between Vietnam and Malaysia is on the rise, hitting more than US$2.23 billion in 2005. Malaysia’s key export items to Vietnam are chemicals, electronics, iron and steel.
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