Malaysia heads a list of 40 countries and territories who have invested in Vietnam over the last nine months, following the licensing of its 9.8 billion USD project to construct a steel complex in southern Ninh Thuan province.
Construction of the steel complex in Ca Na, which was licensed by the provincial People’s Committee on Sept. 19, is the biggest foreign investment project in Vietnam so far. It will be jointly executed by the Lion Corporation and the Vietnam Shipbuilding Industry Corporation (Vinashin).
Malaysian businesses are currently registered to invest in 37 projects worth a total of 14.8 billion USD in Vietnam , making up 4.1 percent of the total number of projects and 26.4 percent of registered capital, said the Foreign Investment Department under the Ministry of Planning and Investment.
The Malaysian Berjaya Land Bhd Corporation has invested 3.5 billion USD in a construction project to develop urban areas and universities in Ho Chi Minh City and another 930 million USD to build the Vietnam Financial Centre in the city’s District 10.
The corporation has also invested 230 million USD in projects being implemented in the centre of Bien Hoa city in southern Dong Nai province and 500 million USD in projects being carried out in Thach Ban new city in Hanoi .
The Malaysian ambassador to Vietnam Lim Kim Eng praised the investing environment in Vietnam in general and in Hanoi in particular and said it has attracted an increasing number of foreign investors, including Malaysian businesses.
Malaysian investors have plans to invest in real estate as well as in the construction of hospitals, hotels, banks and production factories, she added.
The Malaysian Industrial and Foreign Trade Minister Muhyiddin Mohd Yassin paid a visit to Vietnam at the end of last July, accompanied by representatives of large businesses seeking investment and business opportunities.