Việt Nam, Malaysia promote smart business connectivity

Việt Nam, Malaysia promote smart business connectivity

Malaysia is paying close attention to Việt Nam’s Đổi Mới (Renewal) reforms, particularly in land policies, rice production technologies and seafood industry development, as both sides seek to expand practical cooperation.

Ngô Quang Hưng, representative of the Việt Nam Trade Office in Malaysia, introduces Vietnamese products at the Melaka International Halal Fair, held from May 16-19, 2026. — VNA/VNS Photo

A trade promotion forum held in Kuala Lumpur on Friday highlighted growing efforts by Việt Nam and Malaysia to deepen business connectivity and strengthen integration among enterprises from both countries.

Speaking at the event, Ngô Quang Hưng from the Việt Nam Trade Office in Malaysia said Malaysia remains Việt Nam’s largest trading partner in the Association of Southeast Asian Nations (ASEAN), with two-way trade hitting US$7 billion in the first four months of this year.

He noted that the strong trade momentum puts both countries on track to realise the $20 billion bilateral trade target set by their Prime Ministers during talks late last year.

Hưng stressed that the two economies are highly complementary, with Việt Nam excelling in agricultural produce, seafood, processed food and textiles, while Malaysia has strengths in manufacturing technology, chemicals, logistics and the Halal sector.

Focusing on regional supply chains, Hambali Mukhlas, vice chairman of the Vietnam Malaysia Business Association (VMBIZ), said ASEAN nations must build more resilient value chains amid geopolitical tensions and rising logistics costs.

He said closer strategic coordination among ASEAN members would help create stronger, more competitive regional supply networks capable of competing globally.

Hambali also pointed to the strong potential for cooperation between Việt Nam’s agricultural resources and Malaysia’s established Halal certification system and logistics capabilities to tap deeper into the global Muslim market.

He added that Malaysia is paying close attention to Việt Nam’s Đổi Mới (Renewal) reforms, particularly in land policies, rice production technologies and seafood industry development, as both sides seek to expand practical cooperation.

Meanwhile, Suneil Dutt Sharma, secretary-general of the International Society for Small and Medium Enterprises (ISSME), described SMEs as the driving force of the global economy, accounting for more than 90 per cent of businesses worldwide and generating over half of global jobs.

He said SMEs must evolve into “smart enterprises” integrated into global value chains and capable of leading green growth and circular economy transformation.

According to Sharma, this transformation should be built on five pillars: digital transformation, innovation and research, deeper regional integration, adherence to ESG and sustainability standards, and stronger partnerships linking governments, academia and businesses.

He also commended Vietnamese firms for their adaptability, highlighting their rapid digitalisation and increasing competitiveness in global manufacturing markets.

Participants at the forum agreed that stronger trade promotion and business cooperation would help drive the Việt Nam–Malaysia economic partnership forward, especially in digital economy development, green industries and sustainable supply chains, while contributing to ASEAN’s long-term prosperity.

Bizhub