Tansri Matshah Safuan, President of Malaysia’s Safuan Group (Photo: VNA) HCM City (VNA) – The first VietnamMarket in Malaysia with 200 pavilions is scheduled to open in March 2020.
The information was revealed at a ceremony toannounce the project in Ho Chi Minh City on November 9.
Tansri Matshah Safuan, President of Malaysia’sSafuan Group, said the Vietnam Market in Kuala Lumpur will be the firstlarge-scale trade centre as part of the cooperation between the two countries.
It is established based on the demand forVietnamese goods and services in Malaysia, he said.
The market will serve as a bridge to boost theexport of Vietnamese goods to Singapore, Thailand and other markets in theAssociation of Southeast Asian Nations (ASEAN), he added.
The Vietnam Market will consist of a six-storey shoppingcentre in Safuan Plaza building in downtown Kuala Lumpur, next to majorshopping centres, commercial streets and famous tourist destinations.
It is expected to gather businesses exporting agriculturalproducts, seafood, handicrafts, garments, mechanical equipment, machines,cosmetics, proprietary technologies, and service industries of Vietnam, as wellas an ideal place for Vietnamese firms to expand operation in Malaysia.
Nguyen Tuan, Deputy Director for theInvestment & Trade Promotion Centre of HCM City (ITPC), said Malaysia isthe sixth largest trading partner of Vietnam, after China, the Republic ofKorea, the US, Japan and Thailand, and the second biggest trading partner of Vietnamin ASEAN.
Vice versa, Vietnam is now the 12th largesttrading partner of Malaysia and the fourth biggest in ASEAN. Vietnam is alsoone of the major suppliers of rice for Malaysia, according to Tuan.
In 2018, Vietnam exported 8.47 billion USD worthof goods to Malaysia while importing 4.77 billion USD from the market. Thefigures in the first half of 2019 were 3.52 billion USD and 1.95 billion USD,respectively./.
VNA
