Prime Minister Pham Minh Chinh calls on Malaysian businesses to expand investment in Viet Nam
VGP – Prime Minister Pham Minh Chinh called on Malaysian businesses to further expand investment in Viet Nam while he was addressing a meeting with business leaders from both countries in Kuala Lumpur on Sunday morning.
Prime Minister Pham Minh Chinh (second right) attends the Viet Nam-Malaysia Business Meeting, Kuala Lumpur, Malaysia, May 25, 2025. Photo: VGP
Malaysia is Viet Nam's third largest investor in ASEAN, after Singapore and Thailand, and the 10th largest investor in the world, with total registered capital of US$13.6 billion.
The Government of Viet Nam pledges to protect the rights to property, freedom of business and equal access to resources as well as legitimate rights and and interests of investors, said Prime Minister Pham.
The Government remains steadfast to its goal of accelerating GDP growth of at least 8 percent in 2025 and achieving double-digit growth in the following years.
From that perspective, Viet Nam is focusing on removing bottlenecks in terms of institutions, infrastructure and human resource to forumulate open and smooth business environment, said Pham.
He also said Viet Nam is streamlining the political system, promoting administration reform, and advancing the development of science and technology, innovation and digital transformation.
Regarding administration reform, the Government targets to reduce at least 30 percent of administrative procedures, compliance costs and time required to process administrative procedures by the end of this year.
Since the introduction of Doi moi policy in 1986, from a war-ravaged and impoverished country, Viet Nam has emerged as one of 34 leading economies in the world, and signed 17 free trade agreements involving more than 60 economies around the world.
The country's economy expanded over 7 percent while its GDP size reached US$476.3 billion in 2024./.
