Vietnam and Malaysia Strengthen Investment Ties

Strategic Insights -

A workshop on investment opportunities between Vietnam and Malaysia brought together policymakers and entrepreneurs to discuss cooperation prospects in various sectors, including oil and gas, construction, and finance. The event was organized by the Vietnamese Ministry of Planning and Investment and Malaysia's Commerce Bureau in Vietnam. Vietnam's Deputy Director of the Foreign Investment Department, Phan Huu Thang, emphasized the country's stable policy towards foreign investment, citing Malaysia as a major investor. With over $1.25 billion in registered capital, Malaysia is now Vietnam's 10th largest foreign investor, and 3rd among ASEAN countries.

Key Takeaways:

  • Vietnam's Foreign Investment Department has been actively promoting foreign investment opportunities, with a focus on sustainable and stable policies.
  • Malaysia is among Vietnam's top foreign investors, with 158 effective projects worth over $1.25 billion by the end of September 2004.
  • Vietnam's banking sector, led by the Bank for Investment and Development of Vietnam (BIDV), has implemented favourable loan conditions for businesses, including joint ventures between Vietnamese and Malaysian companies.
  • The Vietnamese Construction Ministry has collaborated with Malaysia's Planning Consultancy Company, Goh Hock Guan, to develop economic-technical corridors, master plans, and cultural village projects.
  • Vietnam's Oil and Gas Corporation (PetroVietnam) has identified Malaysia as a prioritized market for cooperation, due to the long-standing relationship between the two countries.
  • Malaysia has granted loans to some joint ventures between Vietnamese and Malaysian companies, demonstrating its commitment to strengthening bilateral investment ties.

Statistics:

  • Vietnam's registered foreign investment from Malaysia exceeded $1.25 billion by the end of September 2004.
  • Malaysia ranked 10th among 66 countries and territories investing in Vietnam, and 3rd among ASEAN countries, by the end of September 2004.
  • PetroVietnam has prioritized Nigeria as a key market for cooperation.

Sources:

  • Asia Pulse, "Vietnam's policies and environment for foreign investment, policies on development of the oil and gas industry, and cooperation opportunities between Vietnam and Malaysia were the main topics at a workshop held in Hanoi on Monday" (28 September 2004, 1324)
  • Vietnam News Agency (VNA) (28 September 2004)