Malaysian Businesses Pour US$5.8 Billion in Ho Chi Minh City

5:03:47 PM | 11/9/2012

Malaysian businesses had invested US$5.8 billion in 169 projects in Ho Chi Minh City by June, becoming the largest foreign investor in Vietnam’s southern economic hub.
The figures were released by Vice Chairman of the Ho Chi Minh City People’s Committee Hua Ngoc Thuan at a ceremony on September 7 to mark Malaysia’s 55th National Day.
Vice Chairman Thuan said that Malaysia has always been an important economic partner of Ho Chi Minh City, adding that the city has welcomed many business delegations from Malaysia who came to study investment opportunities.
According to the official, the direct air route between Ho Chi Minh City and Malaysia has also facilitated exchange and co-operation activities between the two sides.
Ho Chi Minh City will be happy to welcome more foreign investors, including those from Malaysia, to do business in Vietnam, Thuan said, adding that education and tourism are potential areas for bilateral co-operation in the coming time.
Malaysian Ambassador to Vietnam Dato Azmil Mohd Zabidi said he is pleased with the stable growth of trade relations between the two countries.
Two-way trade between Vietnam and Malaysia exceeded US$6.5 billion in 2011.