(VOVworld) - Ho Chi Minh City hopes to welcome a new wave of Malaysian investors, especially following the formation of the ASEAN Community and the conclusion of the Trans-Pacific Partnership (TPP).
Malaysia's capital city of Kuala Lumpur. Malaysia is one of leading investors in HCM City. (Photo: vir.com.vn) |
Le Thanh Liem, Vice Chairman of the municipal People’s Committee, told a delegation from Malaysia’s Consulate General in HCM City on Friday that the city will simplify administrative procedures and improve the investment climate. This will facilitate foreign businesses, including those from Malaysia, to operate in HCMC.
Sofia Akmalabd, Malaysian Consul General, said Vietnam and Malaysia see great potential for cooperation as they are both members of the TPP and the ASEAN Community.
He said Malaysia and HCM City need closer links to boost trade and investment in the future.
As of June 2016, Malaysia was the second largest investor in HCM City with 220 valid projects capitalized at 5 billion USD.
Malaysian investors mainly invest in processing, manufacturing, trade, accommodation, and restaurant services.