Malaysian firms keen on business expansion in Vietnam
Up to 38 percent of Malaysian firms chose Vietnam as their favoured Asian destination for business expansion in the next 3-5 years, according to the 2016 Asian Enterprise Survey.
Kuala Lumpur (VNA) – Upto 38 percent of Malaysian firms chose Vietnam as their favoured Asiandestination for business expansion in the next 3-5 years, according to the 2016Asian Enterprise Survey released by the United Overseas Bank (UOB) on March 31.
The firms said they were drawn toVietnam’s stable political climate (44 percent), huge and growing customerdemand (42 percent), and favourable tax and regulatory environment (32 percent).
Vietnam continues to beattractive for foreign investment thanks to its 6 percent growth and a youngworkforce base with 60 percent of its 90 million population aging below 35.
The findings were taken from morethan 2,500 interviews granted to financial planners working for Malaysia-based Asianenterprises which have been in operation for at least three years and earn atleast 3.5 million USD each year.
UOB Malaysia Chief ExecutiveOfficer Wong Kim Choong said Malaysian investors in Vietnam mostly operate inexport-oriented industries such as manufacturing, health care, pharmaceuticals,construction and real estate, adding that they also look forward to moreopportunities brought about by Vietnam’s free trade agreements with theEuropean Union and the Eurasian Economic Union.
UOB has noticed Vietnam’sstrategic importance since 1995 when the bank opened a branch mostly servingforeign businesses in the country, he said.-VNA
The United Overseas Bank Limited (UOB) has received preliminary approval from the State Bank of Vietnam to establish a foreign-owned subsidiary bank in the country.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: VNA) 
