Malaysia Business Chamber Vietnam strengthens regional collaboration at ASEAN summit

Held on December 6 in Phnom Penh, Cambodia, this landmark event underscored the unity and influence of Malaysian business communities across Southeast Asia, further strengthening regional economic cooperation. The summit provided a valuable platform for networking, collaboration, and knowledge sharing with fellow Malaysian business leaders and government officials from across ASEAN.

MBCV participated in the discussion panel at the ASEAN Business Summit 2024

The summit, organised by the Malaysian Business Chamber Cambodia, highlighted the collective influence of Malaysian business chambers across ASEAN. For the first time, chambers from Vietnam, Thailand, Laos, Myanmar, the Philippines, and Indonesia came together under the unified platform of MBCs ASEAN, emphasising the importance of collaboration in promoting cross-border trade and investment.

In his keynote address, MBC Cambodia president Oknha Tan Khee Meng celebrated the transformation of the organisation into MBCs ASEAN network, emphasising its role in fostering regional collaboration and economic growth. He further noted the responsibility of Malaysian entrepreneurs across ASEAN to represent their nation with pride while building bridges of cooperation and innovation.

Prominent figures such as Malaysian Ambassador to Cambodia Shaharuddin Onn and Chea Vuthy, secretary general of the Cambodian Investment Board, addressed the summit. Their remarks underscored the vital role of regional business networks in driving innovation and sustainable economic growth. The transformation of this platform into MBCs ASEAN reflects a shared commitment to deepening ties and fostering mutual prosperity across all 10 ASEAN member states.

Attended by around 300 participants, the summit was presided over by Chea Vuthy, secretary general of the Cambodian Investment Board of the Council for Development of Cambodia (CDC), and Shaharuddin Onn, the Malaysian ambassador to Cambodia, signifying the strong support for the event from both the Cambodian and Malaysian governments.

Vietnam continues to be a key economic force within ASEAN, showcasing remarkable resilience and opportunity. With GDP growth projected at 6.1 per cent in 2024 and foreign direct investment exceeding $20 billion, the nation is strengthening its position as a hub for regional and global trade. Vietnam’s strategic policies, young workforce, and increasing focus on sustainability make it a prime destination for Malaysian investors, aligning closely with the vision of Malaysian business leaders.

The MBC Vietnam’s representative emphasised the importance of leveraging collective expertise to unlock new opportunities. Their efforts have been instrumental in strengthening partnerships between Malaysian businesses in Vietnam and their ASEAN counterparts, fostering innovation and supporting Vietnam’s growing focus on green and sustainable development.

MBCV’s chairman was honoured to receive a certificate of appreciation

Under his guidance, MBC Vietnam has facilitated key foreign projects, promoted bilateral trade, and supported Vietnam's ambitious economic transformation. The chamber’s initiatives align with Vietnam’s evolving economic landscape, which prioritises sustainability, digital transformation, and diversified trade partnerships.

Malaysia is currently Vietnam's second-largest trading partner in ASEAN and the 11th largest trading partner globally, with two-way trade increasing from over $8 billion to over $14 billion between 2014 and 2022. In the foreseeable future, the two nations hope to raise the amount to $18 billion. Malaysia is also the second-largest ASEAN investor in Vietnam and ranks 11th among 143 nations and territories investing in the country, with a total registered capital of over $13 billion.

Angus Liew delivered a speech at the ASEAN Business Summit 2024

The ASEAN-Malaysian Business Chambers Summit 2024 serves as a testament to the power of regional collaboration and the vision of leaders. MBC Vietnam’s role in driving economic development and fostering partnerships underscores its commitment to building bridges between Malaysia and Vietnam. As ASEAN continues its journey towards a future of shared prosperity, the contributions of institutions like MBC Vietnam will remain integral to shaping the region’s success.

"MBCV is committed to fostering stronger ties between Malaysian businesses in Vietnam and our ASEAN neighbours. We look forward to continuing to contribute to the growth and development of the Malaysian business community in Vietnam and the broader ASEAN region," Angus Liew said.

Gamuda Land acquires $315 million project in Ho Chi Minh City Gamuda Land, a property arm of Malaysian Gamuda Bhd, is continuing to expand its portfolio in Vietnam by acquiring a third project in Ho Chi Minh City after two acquisitions done last year.

Gamuda Land starts construction of Eaton Park Gamuda Land, the investor from Malaysia, and its constructor partner Unicons started construction of the towers A5, A6, phase 1 of Eaton Park on March 26, marking the next important milestone in the construction process.

Gamuda Land Vietnam named Best Developer at PropertyGuru awards Gamuda Land Vietnam was named in multiple categories at the Vietnam PropertyGuru Awards 2024 on November 15 in Ho Chi Minh City.