A workshop to introduce investment opportunities in Viet Nam was held in Kuala Lumpur on Thursday, drawing the participation of more than 100 representatives from firms in Malaysia.

Themed “Promising investment spotlight: Why Viet Nam now?”, the event was organised by the Viet Nam–Singapore Industrial Park Joint Stock Company (VSIP) and the Trade Office at the Vietnamese Embassy in Malaysia. The workshop focuses on Viet Nam’s advantages and potential as well as the country’s business climate improvements and tax incentives.

Opening the event, Vietnamese Trade Counsellor Pham Quoc Anh emphasised Viet Nam’s efforts in improving its investment climate, thereby drawing numerous foreign investors, including those from Malaysia.

Malaysia is the eighth biggest foreign investor in Viet Nam. As of June, the country had invested over US$12 billion in 577 projects.

Malaysia is also the second largest trade partner of Viet Nam in ASEAN after Thailand. In the first six months of this year, bilateral trade reached more than $5.8 billion, up 21 per cent over the same period last year.

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

John Campbell from Savills noted Viet Nam’s advantages, such as competitive land rent prices and maritime transport charges, a large population and geographic location.

He highlighted that Viet Nam is seeking many free trade agreements including those with the European Union and the Republic of Korea, as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

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