Vietnam and Malaysia Strengthen Cooperation on Green Growth Initiatives

Malaysian Prime Minister Anwar Ibrahim highlighted Malaysia’s commitment to promoting sustainable and environmentally friendly economic growth programs. He called on Vietnamese businesses to strengthen their cooperation with Malaysian partners in this field, as reported by VNA.

He made these remarks during his attendance at the Malaysia-Vietnam Business Forum, held as part of his official visit to Vietnam on July 20-21.

Malaysian Prime Minister Anwar Ibrahim speaks at the forum. (Photo: mekongasean.vn)

The Malaysian Prime Minister expressed his admiration for Vietnam’s thriving economic activities and achievements, particularly praising the Vietnamese Government’s vision and leadership in creating a favorable business environment. He emphasized the role of this environment in Vietnam’s economic development and in strengthening Vietnam-Malaysia relations.

Prime Minister Anwar Ibrahim expressed his satisfaction with the economic cooperation achievements between the two countries and emphasized the need to further promote their economic ties in the future.

Participants in the forum noted that the two countries have complementary economies. Malaysia, with its thriving manufacturing sector and advanced technology, offers significant investment opportunities for Vietnamese businesses. Similarly, Vietnam’s rapidly growing economy provides Malaysia with a potential market for goods and services exchange.

The two countries still have room for cooperation in various fields such as real estate, energy, Halal products, food and beverage, construction and building materials, as well as medical and pharmaceutical products.

The Malaysia-Vietnam Business Forum is held as part of Malaysian Prime Minister Anwar Ibrahim’s official visit to Vietnam on July 20-21. Photo: mekongasean.vn

During his visit, PM Anwar paid courtesy calls to Party General Secretary Nguyen Phu Trong and President Vo Van Thuong, held talks with PM Chinh, met with National Assembly Chairman Vuong Dinh Hue, witnessed the signing of cooperation agreements between the two countries, and attended the official banquet.

Vietnamese leaders welcomed PM Anwar Ibrahim and appreciated his visit on the occasion of the 50th anniversary of bilateral diplomatic ties this year. They expressed confidence in Malaysia’s successful pursuit of the “Malaysia Mandani” strategy initiated by PM Anwar Ibrahim and its achievement of high-income status with sustainable development.

The leaders of both countries expressed satisfaction with the development of bilateral relations in recent years, particularly since the upgrade of bilateral ties to a strategic partnership in 2015. Malaysia is now Vietnam’s second biggest trading partner within ASEAN and ninth largest globally. Cooperation in areas affected by the Covid-19 pandemic, such as tourism, labor, education and training, is showing strong recovery.

Vietnamese Prime Minister Pham Minh Chinh and Malaysian Prime Minister Anwar Ibrahim witnessed the signing of the Memorandum of Understanding between Vietnam Chamber of Commerce and Industry and Malaysia National Chamber of Commerce and Industry on July 20. Photo: Duong Giang/VNA

Both sides agreed to facilitate the exchange of delegations at all levels through Party, State, Government, and parliament channels. They also considered establishing a mechanism for regular or periodic meetings between the two Prime Ministers, and they will expedite the implementation of signed sectoral cooperation mechanisms. The goal is to achieve balanced bilateral trade with fewer trade barriers.

Following their talks, the two Prime Ministers witnessed the signing of two documents: the minutes of the seventh meeting of the Joint Committee for Economic, Scientific, and Technical Cooperation, and a memorandum of understanding between the Vietnam Chamber of Commerce and Industry (VCCI) and the National Chamber of Commerce and Industry of Malaysia.