Malaysia keen to co-operate with Vietnam in emerging industries

In a statement issued on the evening of October 10, after meeting with Prime Minister Pham Minh Chinh, Malaysian Prime Minister Anwar Ibrahim stressed that the nation’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 therefore keen to tap into 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 PM Anwar.

This comes after a meeting held with PM Chinh, when the Malaysian PM also affirmed his nation’s readiness to support the Vietnamese side in strengthening its fisheries monitoring, control, and law enforcement system by sharing best practices.

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

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

In July, both sides 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.