KUALA LUMPUR: Malaysian business ventures in Vietnam have exceeded US$13 billion (US$1=RM4.47) in value, according to Prime Minister Datuk Seri Anwar Ibrahim. He announced that there are over 700 Malaysian projects in Vietnam, crediting the success to the strong support provided by Vietnamese authorities towards fostering business relationships between the two countries.

According to BERNAMA News Agency, Prime Minister Anwar emphasized Vietnam’s supportive role in Malaysian business ventures. “Vietnam has been very supportive of our business ventures. That means the support of the Vietnamese authorities has been positive and forthcoming, and they continue to support us on the ASEAN chair,” he stated during a press conference at the Prime Minister’s Office in Putrajaya. He addressed the media alongside General Secretary of the Central Committee of the Communist Party of Vietnam, To Lam.

The joint press conference followed a bilateral meeting between Anwar and Lam, marking the beginning of Lam’s three-day off
icial visit to Malaysia. The visit aims to strengthen the strategic partnership between Malaysia and Vietnam. During the meeting, both leaders witnessed the exchange of a memorandum of understanding (MoU) between the Malaysia External Trade Development Corporation (MATRADE) and Vietnam Trade Promotion Agency (VIETRADE) to boost trade promotion efforts.

In addition to the MoU, a memorandum of collaboration was exchanged between Petroliam National Bhd (Petronas) and PetroVietnam, focusing on renewable energy initiatives. This collaboration highlights the commitment of both nations to advance in the field of sustainable energy.

This visit marks To Lam’s first official trip to Malaysia since his election as the head of the Communist Party of Vietnam in August this year.