Malaysian Prime Minister to visit Viet Nam this week
VGP - Malaysian Prime Minister Anwar Ibrahim and his spouse will pay an official visit to Viet Nam from July 20-21.
Prime Minister Pham Minh Chinh (R) meets Malaysian Prime Minister Anwar Ibrahim, Labuan Bajo, Indonesia, May 10, 2023 - Photo: VGP
The visit will be made at the invitation of Vietnamese Prime Minister Pham Minh Chinh.
Viet Nam and Malaysia established diplomatic relations on March 30, 1973. Over the past five decades, the two nations have been close partners bilaterally and in ASEAN.
The bilateral relations have been strengthened as evidenced by the establishment of Strategic Partnership in August 2015.
Both countries are currently implementing the Plan of Action for the period of 2021-2025 and are committed to achieving the goals underlined under the Plan of Action.
Viet Nam is currently the 11th largest trade partner and the seventh biggest importer of Malaysia.
Two-way trade rose 25.3 percent in 2021 to US$12.5 billion, and 14.8 percent in 2022 to US$14.67 billion. The figure is expected to reach US$18 billion by 2025 and US$25 billion by the end of this decade.
In terms of investment, Malaysia is the third biggest investor in Viet Nam among the ASEAN member countries. It ranks 10th out of the 142 countries and territories investing in Viet Nam with 710 valid projects worth US$13.08 billion as of February 2023.
Meanwhile, Viet Nam has also invested in 21 projects in Malaysia with a total investment of US$853 million, ranking ninth among the 78 countries and territories that Viet Nam is investing in as of March 2022./.
