KUALA LUMPUR: Vietnamese Prime Minister Pham Minh Chinh attended the Vietnam–Malaysia Business Meeting in Kuala Lumpur today, as part of his ongoing official visit to Malaysia.

Vietnam, a key destination for Malaysian investments, aims to boost bilateral trade to US$18 billion this year.

According to the Vietnam News Agency (VNA), Chinh called on businesses to actively strengthen Asean connectivity—particularly between Vietnam and Malaysia—and to expand cooperation in the green economy, innovation, science and technology, digital transformation, and green energy.

He also highlighted the need to revitalise traditional growth drivers such as investment, exports, and consumption.

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Briefing participants on Vietnam's situation, the prime minister said that from a poor, war-torn, agriculture-based country, Vietnam has risen to rank among the world's 34 largest economies.

It is also among the top countries in attracting foreign direct investment (FDI), and one of the world's 20 leading economies in terms of trade.

The country has signed 17 free trade agreements with more than 60 economies.

Vietnam aims for gross domestic product (GDP) growth of at least 8 per cent this year and double-digit growth during the 2026–2030 period, the leader added.

The country is committed to building an independent and self-reliant economy, while proactively and actively engaging in extensive, substantive, and effective international integration, he said.

Chinh said that, alongside implementing three strategic breakthroughs in infrastructure, institutions, and human resources, Vietnam has focused on streamlining its organisational apparatus and creating a more favourable environment for production, investment, and business.

It is also driving breakthroughs in science and technology, innovation, and digital transformation; positioning the private sector as one of the most important engines of the economy; and promoting international integration in the new context, while expanding relations with countries and international partners, he said.

The prime minister called on foreign enterprises, including those from Malaysia, to continue cooperating and investing in Vietnam, and pledged to facilitate their operations.

The participating businesses expressed their delight at the positive developments in Vietnam–Malaysia relations, especially following the establishment of the Comprehensive Strategic Partnership.

They shared the view that economic, trade, and investment cooperation is a highlight of the bilateral relationship.

Malaysia is currently Vietnam's third-largest trading partner within Asean and the ninth-largest globally. Bilateral trade has continuously increased, reaching US$14.2 billion in 2024, with a target of US$18 billion this year. Malaysia ranks 10th among 143 countries and territories investing in Vietnam, with total registered capital of US$13 billion.

Lauding Vietnam's role and position within Asean and globally, as well as its favourable investment environment, the participating businesses noted that the two countries possess strategic and complementary strengths that should be leveraged to enhance cooperation.

This, they said, would offer businesses on both sides greater opportunities to access each other's markets—particularly in emerging sectors with strong potential such as the halal industry, garment sector, green economy, innovation, science and technology, digital transformation, green energy, infrastructure development, and the maritime economy.

They emphasised that, amid ongoing global uncertainties, both sides must maximise the cooperative mechanisms they jointly participate in to advance each country's development—for the sake of peace, stability, cooperation, and progress in the region and the wider world.

– BERNAMA-VNA