PM Nguyen Xuan Phuc (right) and his Malaysian counterpart Mahathir Mohamad – Photo: Phu Do Vietnam and Malaysia established diplomatic relations in 1973. Over the past 46 years, the traditional and multifaceted friendly relations between the two countries have been constantly strengthened and developed. The two sides regularly exchange delegations and conduct high-level contacts. The upgrading to the strategic partnership in 2015 has contributed to promoting economic, trade and investment cooperation between the two countries. Bilateral trade turnover reached US$11.5 billion in 2018, an increase of 13.2 percent compared to the previous year, with Vietnam's exports being crude oil, rice, coffee, and seafood, and Vietnam's imports being steel and iron, petroleum, vegetable and animal oils and fats, machinery and equipment, computers, and electronic products. Regarding investment, as of April 2019, Malaysia had 586 investment projects in Vietnam with total registered capital of US$12.4 billion, ranking eighth among the 130 countries and territories investing in the country. Malaysia's investment projects in Vietnam have mainly focused on the processing industry and real estate. Vietnam has 19 investment projects in Malaysia with total capital of US$1.53 billion. Vietnamese Prime Minister Nguyen Xuan Phuc said at the meeting with his Malaysian counterpart that Vietnam… Read full this story
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