Tuesday, November 5, 2024 9:25:54 PM - Markets closed
VN-INDEX 1,245.76 +1.05/+0.08%
HNX-INDEX 224.86 +0.41/+0.18%
UPCOM-INDEX 91.90 +0.29/+0.32%
Malaysia to boost exports to Vietnam
vietnamnews - 7/12/2024 8:27:02 AM
 (0 ratings. You must sign in to rate.)
Malaysian Ministry of Investment, Trade and Industry said 14 Vietnamese companies have committed to sourcing Malaysian products, including electrical and electronics, palm oil, chemicals and petrochemicals.
 
 
Palm oil is one of the Malaysian products exported to Vietnam. — Photo NST
 
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 US$717 million) to Việt Nam.
 
The announcement was made following a visit to Việt Nam 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 HCM City and Hà Nội.
 
Minister Zafrul said that Malaysia is pleased with the 3.3 billion RM potential exports from its brief mission to Việt Nam, 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 Việt Nam visit, Tengku Zafrul had meetings with Vietnamese Prime Minister Phạm Minh Chính, Minister of Planning and Investment Nguyễn Chí Dũng, and Minister of Industry and Trade Nguyễn Hồng Diên. Tengku Zafrul and Diên also co-chaired the fourth meeting of the Malaysia-Việt Nam Joint Trade Committee in Hà Nội on July 9.
 
Last year, Việt Nam was Malaysia’s 11th largest trading partner while Malaysia was Việt Nam’s 10th largest globally, with a total trade volume of $17.38 billion.
 
Việt Nam 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 Việt Nam with total investment of $13.1 billion. — VNS
 
Read original article here
Newer News
16:19 PM urges national brands to expand towards a green future
11:05 Foreign suppliers pay over VNĐ18 trillion in taxes via electronic portal
11:03 Hanoi takes drastic measures to disburse public investment
11:00 VN's key exports are on a path of recovery: industry experts
10:57 Brand management will help sustainable business development, experts say
10:50 Fresh coconuts quenching new overseas markets
10:47 New solutions needed for urgent power projects
10:44 Vietnam's seafood sector primed for growth with favourable exports
04/11 Numerous US businesses set to arrive in HCM City to implement signed agreements
04/11 Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion
Older News
11/07 Manufacturing enterprises need to adapt to trends to develop: experts
11/07 Digital transformation must be inclusive: PM
11/07 Vietnam expects FDI to hit $40b in 2024, pushing GDP growth up
11/07 Vietnam's trade value with China expected to reach $200b this year
11/07 Trade promotion: a boost for Vietnamese farming produce
11/07 Hanoi eyes eight more industrial clusters by 2030
11/07 Green logistics – a key for sustainable development
11/07 Quang Ngai Sugar invests over VNĐ2 trillion to expand sugar and biomass power plants
11/07 VN spends US$1.53 billion in importing cotton in H1
10/07 Vietnam, Philippines agree to establish a rice industry alliance
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,245.76 +1.05/+0.08%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.