Prime Minister Phạm Minh Chính meets with Prime Minister Datuk Seri Anwar Ibrahim on the sidelines of the 44th and 45th ASEAN Summits in Vientiane, Laos. VNA/VNS Photo

KUALA LUMPUR — Malaysia is aiming to strengthen economic cooperation with Việt Nam by exploring opportunities for private sector involvement in emerging industries, Malaysian Prime Minister Datuk Seri Anwar Ibrahim has stated. 

“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," the PM said on Thursday as cited by the national news agency Bernama. 

He emphasised that Việt Nam's rapid industrial growth presents significant potential for partnerships that would benefit both economies, particularly as global demand for advanced technologies rises.

Earlier, at a meeting with Vietnamese Prime Minister Phạm Minh Chính on the sidelines of the 44th and 45th ASEAN Summits in Vientiane, Laos, Anwar said Malaysia is ready to assist Việt Nam in enhancing its fisheries monitoring, control and law enforcement system by sharing best practices.

The two PMs also discussed other areas of cooperation, including the halal industry as Malaysia is a global leader in halal certification.

Việt Nam is Malaysia's 12th largest trading partner globally and its fourth-largest trading partner in the ASEAN, after Singapore, Indonesia, and Thailand.

In July, 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.  — VNS