Themed “Promising investment spotlight: Why Vietnam now”, the event organized by the Vietnam – Singapore Industrial Park joint company (VSIP) and the Trade Office at the Vietnamese Embassy in Malaysia, focused on Vietnam’s advantages and potential as well as the country’s business climate improvements and tax incentives.

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Vietnamese Trade Counsellor Pham Quoc Anh addresses the workshop. Photo: Vietnam+

Opening the event, Vietnamese Trade Counselor Pham Quoc Anh emphasized Vietnam’s efforts in improving investment climate, thereby drawing numerous foreign investors, including those from Malaysia.

Malaysia is the eighth biggest foreign investors in Vietnam. As of June, Malaysia invested over 12 billion USD in 577 projects in Vietnam

Malaysia is also the second largest trade partner of Vietnam in ASEAN after Thailand. In the first six months of this year, bilateral trade reached more than 5.8 billion USD. up 21 percent the same period last year.

Trade Counsellor Pham Quoc Anh described the figures as a basis for the two countries to continue promoting the bilateral ties in various areas, including investment.

John Campell from Savills emphasized Vietnam’s advantages such as competitive land rent prices and maritime transport charges, big population and geographic location.

He highlighted that Vietnam signed many free trade agreements including those with the European Union and the Republic of Korea and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

At the event, representatives of VISP and KPMG Malaysia also pointed out other attractive aspects in Vietnam’s investment environment like tax incentives.

Source: VNA