Malaysia Identifies RM102 Million in Potential Construction Business in Vietnam

Strategic Insights -

A recent marketing mission by Malaysia's MATRADE to Vietnam has unveiled RM102 million (US$28.8 million) in potential construction business opportunities, particularly in the construction of resorts, residential, and commercial buildings, among others. The mission, led by MATRADE Chief Executive Officer Noharuddin Nordin, aimed to showcase Malaysian companies' capabilities and international track record to the Vietnamese business community. Notably, private sector participants from the construction and professional services sector participated in the mission, including companies from civil engineering, formwork designs, and structural enhancement services.

Key Takeaways:

  • The Malaysia External Trade Development Corporation's (MATRADE) marketing mission to Vietnam identified RM102 million in potential construction business, highlighting opportunities in resorts, residential, and commercial buildings, highways, maintenance, and repair services, and tiling works.
  • Private sector participants from the construction and professional services sector, including civil engineering, formwork designs, and structural enhancement services, actively engaged in the mission.
  • Malaysian contractors are currently involved in several construction projects in Vietnam, such as the Quang Tri Airport, My Thuy Deep Sea Port, and the Dong Ha Railway.
  • The mission, which took place in Danang City and Hanoi, Vietnam, from August 17 to 21, facilitated 73 one-on-one business meetings between Malaysian and Vietnamese counterparts.
  • MATRADE Chief Executive Officer Noharuddin Nordin expressed confidence in translating identified projects into actual deals, despite the global construction sector's slowdown.
  • Vietnam remains a significant market for Malaysian construction companies, with opportunities in various sectors.

Statistics:

  • RM102 million (US$28.8 million) in potential construction business identified in Vietnam.
  • 73 one-on-one business meetings facilitated between Malaysian and Vietnamese counterparts.
  • 8 construction projects currently underway or completed in Vietnam with Malaysian contract involvement (Quang Tri Airport, My Thuy Deep Sea Port, Dong Ha Railway, Hanoi Yen So Park, Hanoi Waste Water Treatment plant).
  • MATRADE's marketing mission to Vietnam took place between August 17 and 21.

Sources:

  • "Asia Pulse", August 27
  • "BERNAMA-OANA", bl 27-08 1614