Malaysia desires to cooperate with Vietnam in emerging industries

In a statement issued on the evening of October 10, after meeting with Prime Minister Pham Minh Chinh, Prime Minister Anwar Ibrahim stressed that Vietnam's rapid industrial growth offers significant potential for partnerships that will benefit both economies, especially as global demand for advanced technology is increasing sharply.

Malaysia is keen to tap opportunities for the private sector to become involved in emerging value chains, particularly in the electric vehicle (EV), electronics, semiconductor and advanced materials industries, said Anwar.

Earlier, at a meeting with PM Pham Minh Chinh, Anwar also affirmed his nation’s readiness to support Vietnam in strengthening its fisheries monitoring, control and law enforcement system by sharing best practices.

The two PMs discussed another area of ​​cooperation such as the halal industry, an industry in which Malaysia has strengths and is a global leader in halal certification.

Vietnam represents Malaysia's 12th largest trading partner globally and its 4th largest trading partner in ASEAN, after Singapore, Indonesia and Thailand.

In July 2024, both nations consented to strive to achieve the bilateral trade turnover target of US$18 billion as soon as possible, by facilitating the penetration of products and services, including halal goods, into their consumer markets.