Malaysia, Vietnam enjoy long history of cooperation in multiple fields

Both sides established official diplomatic ties on March 30, 1973. As part of the occasion of the 50th anniversary of the two nations’ diplomatic relations, Malaysian Ambassador to Vietnam Dato Tan Yang Thai gave an interview to VOV about the bilateral relationship, emphasizing that the Vietnamese market continues to be one of the most attractive destinations for foreign investors, especially those from Malaysia.

Following is the full text of the interview:

VOV: Ambassador, how has the diplomatic relationship between Malaysia and Vietnam developed over the past 50 years, can you analyse some outstanding achievements?

Ambassador Dato Tan Yang Thai: The diplomatic ties between Malaysia and Vietnam were first established in 1973. Since then, the relationship between the two countries has become stronger and stronger and I am optimistic that it will further develop as both sides constantly promote bilateral and multilateral efforts, especially through ASEAN.

Vietnam has emerged as one of Malaysia's important strategic partners in terms of both economic and social affairs. Malaysian investors were present in Vietnam long before it joined ASEAN in 1995.

Currently, both nations have implemented synchronous and comprehensive co-operation under the Plan of Action (POA) for 2021 to 2025, with a focus on the Malaysia-Vietnam strategic partnership.

Through the implementation of the POA, both countries are expected to further strengthen their bilateral relations and contribute to sustainable development in many key areas.

According to the data, the first POA was successfully implemented and brought great benefits to both countries.

VOV: In your opinion, what are the most important areas of co-operation between Malaysia and Vietnam and what are the prospects for future ties?

Ambassador Dato Tan Yang Thai: Malaysia and Vietnam have a long history of co-operation across a variety of fields, with both countries committed to enhancing regional peace and stability through active participation in ASEAN and other regional organisations.

In the field of trade and investment, Malaysia's trade turnover with Vietnam in 2022 reached US$19.44 billion, up 16.2% compared to 2021. This is a great success in the context of an investment target set at US$18 billion.

With a strong economy, the amount of foreign direct investment capital pouring into the Vietnamese market has continuously increased over recent years.

Malaysian investors are also interested in co-operating with Vietnam in potential fields such as agriculture and fisheries, halal products, and processed foods, as well as electronic products and components.

With the reopening of direct flights by Vietnam Airlines from Kuala Lumpur to Hanoi in mid-March, the two countries have further promoted the tourism sector. Accordingly, the number of Malaysian tourists to Vietnam is in the top 10 countries.

This year, Malaysia is set to welcome 15.6 million international tourists, with a revenue of about MYR 47.6 billion.

Malaysia is therefore optimistic that it will welcome more than 234,000 tourists from the Vietnamese market.

Currently, each week there are 120 flights with more than 21,000 seats from Vietnam to Malaysia operated by Malaysia Airlines, Vietnam Airlines, VietJet Air, Batik Air, and AirAsia.

VOV: As active members of ASEAN, what co-operation do Malaysia and Vietnam have for the stability and prosperity of the region?

Ambassador Dato Tan Yang Thai: Malaysia will assume the role of ASEAN Chair in 2025. Malaysia serves as a policymaker and a frontrunner on any significant international issues.

For Malaysia, ASEAN is a forum to express views and opinions from many different angles, including political-security, as well as economic or socio-cultural affairs.

As a member of the bloc, Malaysia strives to promote stability and linakges in the region.

Malaysia also wants to ask Vietnam to join the Malaysian Technical Cooperation Program (MTCP).

This programme is part of the Malaysian Government’s commitment to augment technical co-operation among developing countries and strengthen regional and sub-regional ties.

Both sides also need to make the most of bilateral and multilateral initiatives to boost trade, such as the Regional Comprehensive Economic Partnership (RCEP).

This agreement is expected to promote economic growth and create plenty of fresh opportunities for businesses of both countries.

VOV: Thank you so much for the interview.