HO CHI MINH CITY: Stronger business ties between Malaysia and Vietnam could help deepen regional supply chains and accelerate economic integration within Asean, according to a Malaysian trade official.
Malaysia External Trade Development Corporation (Matrade) Trade Consul in Ho Chi Minh City Zaimah Osman (pic) said closer bilateral cooperation could strengthen the resilience of regional value chains and support broader Asean economic goals.
"Greater business engagement between Vietnam and Malaysia can contribute to strengthening intra-Asean trade. Both countries are important economies within Asean, with complementary capabilities and strong linkages across sectors,” Zaimah told Bernama following the "The CEO Forum - Doing Business with Malaysia” held on Sept 30 in Ho Chi Minh City.
While Asean's vision of a single integrated market and production base by 2045 remains a core priority, intra-regional trade is not fully tapped.
Of the bloc's US$4.4 trillion (RM18 trillion) in total trade, only about US$800 billion (RM3.3 trillion) to US$900 billion (RM3.9 trillion) - about a fifth - takes place among Asean's 11 member states, indicating significant room for deeper economic integration, according to Malaysia’s Ministry of Investment, Trade and Industry.
Vietnam's economy is forecast to grow 7.8 per cent this year, according to the Asian Development Bank's September report, while Malaysia's growth outlook was raised to 4.9 per cent in 2026 and 4.7 per cent in 2027.
Strong growth in both South-East Asian economies could provide further momentum for deeper intra-Asean trade integration.
"Malaysia is regarded by Vietnamese businesses as a credible and stable market, while there is still room to further develop Malaysia’s role as a regional hub for Vietnamese companies seeking to expand within Asean and beyond.
"Forums such as this are useful in helping to bridge that gap by providing businesses with direct information, access to potential partners and a better understanding of the opportunities available in both markets,” said Zaimah.
Malaysia-Vietnam bilateral trade recorded a strong performance in 2025, reaching US$21.59 billion (RM92 billion), reflecting a growth of 19 per cent year-on-year.
Malaysia’s exports to Vietnam touched US$13 billion (RM55 billion), which included electrical and electronic products, chemicals, petroleum products, metal and machinery.
Imports from Vietnam rose to US$9 billion (RM37 billion), underscoring Vietnam’s growing manufacturing and agriculture capabilities.
The forum was organised by the Consulate General of Malaysia in Ho Chi Minh City, with the support of Matrade Ho Chi Minh City and the Malaysian Business Chamber Vietnam. - Bernama
