Vietnam-Malaysia Business Meeting held in Kuala Lumpur

Addressing a meeting with business leaders from Vietnam and Malaysia, held in Kuala Lumpur on May 25 as part of his ongoing official visit to Malaysia, Prime Minister Pham Minh Chinh called on Malaysian businesses to further expand investment in Vietnam, according to a report from the Government News.

Malaysia is currently Vietnam's third largest investor in ASEAN, after Singapore and Thailand, and its 10th largest investor in the world, with total registered capital of $13.6 billion.

The Government of Vietnam pledges to protect the rights to property, freedom of business and equal access to resources as well as legitimate rights and and interests of investors,  Prime Minister Chinh said.

The Government remains steadfast to its goal of accelerating GDP growth of at least 8 per cent in 2025 and achieving double-digit growth in the following years, according to the PM.

From that perspective, Vietnam is focusing on removing bottlenecks in terms of institutions, infrastructure and human resource to formulate open and smooth business environment, he said.

He stressed that Vietnam is streamlining the political system, promoting administration reform, and advancing the development of science and technology, innovation and digital transformation.

Regarding administration reform, the Government targets to reduce at least 30 per cent of administrative procedures, compliance costs and time required to process administrative procedures by the end of this year.

Since the introduction of Doi moi policy in 1986, from a war-ravaged and impoverished country, Vietnam  has emerged as one of 34 leading economies in the world, and signed 17 free trade agreements involving more than 60 economies around the world, he said.

The country's economy expanded over 7 per cent while its GDP size reached $476.3 billion in 2024, according to the PM.