The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
Palm oil is one of the Malaysian products exported to Vietnam. (Photo: NST)
Kuala Lumpur (VNA) – The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion ﷽RM (about 717 million USD) to Vietnam.
The announcement was made following a visit to Vietnam from July 8 to 10 by MITI Minister Utama Zafrul Tengku Abdul.
MITI said 14 Vietnamese companies have committed to sourcing Malaysian products, including electrical and electronics, palm oil, chemicals and petrochemicals, iron and steel, food and beverages, as well as fast-moving consumer goods. The commitments were made at roundtables between Vietnamese corporations and the Malaysian minister in Ho Chi Minh City and Hanoi.
Minister Zafrul said that Malaysia is pleased with the 3.3 billion RM potential exports from its brief mission to Vietnam, adding MITI will follow up on the realisation of these commitments to support the gross domestic product growth and create job opportunities for people.
He emphasised that the visit’s results reflect the growing momentum in economic ties between the two countries, highlighting mutually beneficial opportunities for their business communities.
According to a statement that MITI released on July 11, during his Vietnam visit, Tengku Zafrul had meetings with Vietnamese Prime Minister Pham Minh Chinh, Minister of Planning and Investment Nguyen Chi Dung, and Minister of Industry and Trade Nguyen Hong Dien. Tengku Zafrul and Dien also co-chaired the fourth meeting of the Malaysia-Vietnam Joint Trade Committee in Hanoi on July 9.
Last year, Vietnam was Malaysia’s 11th largest trading partner while Malaysia was Vietnam’s 10th largest globally, with a total trade volume of 17.38 billion USD.
Vietnam is also an important investment destination for Malaysia, especially in real estate, utilities, financial services and manufacturing. As of 2023, Malaysia registered 717 projects in Vietnam with total investment of 13.1 billion USD./.
Minister of Industry and Trade Nguyen Hong Dien and Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz on July 9 reaffirmed the commitment to strengthening and promoting bilateral trade relations between Vietnam and Malaysia during their working session in Hanoi.
The Saigon Professional Chefs' Guild (SPC) that represented Vietnam at the third Global Culinary Challenge Malaysia, held in Kuala Lumpur from June 25 to July 5, has brought home the championship title and many other prizes.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
