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Việt Nam seeks to lure Malaysian finance, industry businesses

Update: November, 11/2016 - 10:47
Việt Nam is an attractive destination for Malaysian finance and industry businesses. — Photo

HCM CITY  – Việt Nam is an attractive destination for Malaysian finance and industry businesses, CK Lim, Director of the ASEAN Business Community said at a function to connect Vietnamese and Malaysian businesses in HCM City yesterday.

He noted that the Vietnamese Government’s investment policies and tax incentives offered to foreign businesses had created the attraction of the Vietnamese market.

With over 93 million people, Việt Nam is a potential consumption market that is being eyed by regional countries, CK Lim commented.

Several Malaysian banks have made their presence in Việt Nam’s finance–banking sector with efficient operations and possibilities to growing robustly, he said.

Malaysian businesspeople saw Việt Nam a top choice in the ASEAN region when they plan to build plants on manufacturing industrial goods in the future, he told participants.

Assessing Việt Nam-Malaysia co-operative ties, Hồ Xuân Lâm, Deputy Director of the HCM City Investment and Trade Promotion Centre, said Malaysia was always a crucial, promising partner of Việt Nam.

Being members of the ASEAN Economic Community, which forms a single market and production centre with free movement of goods, services, skilled labourers, investment and capital flows, will allow the countries to boost bilateral trade and investment, he said.

HCM City has been offering flexible and competitive investment attraction policies and mechanisms, he noted, saying this enables foreign businesses, including Malaysian ones to expand their investment and business scope.

Malaysia is one of Việt Nam’s strategic partners in ASEAN. In the past ten months of this year, trade between the two countries hit US$6 billion and it was targeted to reach $12-15 billion by 2020. — VNS

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