MALAYSIA VIETNAM CHAMBER OF COMMERCE (MVCC)

Dear Valued Members, Partners and Guest, As we approach the joyful season of Christmas and the close of another remarkable year, we would like to extend our heartfelt gratitude for your continued support and collaboration throughout 2024. This festive season, may your homes be filled with love, laughter, and cherished moments with family and friends. Let us also take this time to reflect on our achievements and look forward to new opportunities in the coming year, as we continue to strengthen the bond between Malaysia and Vietnam. Wishing you and your loved ones a Merry Christmas and a prosperous New Year!

Vietnam is emerging as a prominent player in Southeast Asia’s AI landscape. According to Statista, the country’s AI market is projected to reach US$753.40 million in 2024, at a compound annual growth rate (CAGR) of 28.36 percent from 2024 to 2030. This growth aligns with the region’s pace of 28.53 percent, demonstrating Vietnam’s capacity to keep pace with global technological transformation driven by foreign investment. NVIDIA's commitment to Vietnam's AI growth. On December 5, NVIDIA signed a Memorandum of Understanding (MOU) with the Ministry of Planning and Investment to establish two cutting-edge AI centers in Vietnam: NVIDIA's third global AI research hub—the Vietnam Research and Development Center (VRDC)—and an AI Data Center.

This bilateral meeting provided an opportunity for both delegates to exchange views and ideas on issues of mutual interest to both countries.

Malaysia and Vietnam have elevated their bilateral relationship to a Comprehensive Strategic Partnership following discussions between General Secretary of the Communist Party of Vietnam, To Lam, and Malaysian Prime Minister Datuk Seri Anwar Ibrahim. The partnership aims to strengthen political trust and collaboration in defense, security, and a wide range of economic and social areas, fostering deeper integration within ASEAN. This milestone underscores shared commitments to respect sovereignty, international law, and peaceful dispute resolution, particularly in the South China Sea. Vietnam also pledged support for Malaysia's ASEAN chairmanship in 2025. Source: https://lnkd.in/g2QW76xV Prime Minister Datuk Seri Anwar Ibrahim and General Secretary of the Central Committee of the Communist Party of Vietnam, To Lam (left), witnessing the exchange of the memorandum of understanding on enhancing trade promotion between the Malaysia External Trade Development Corporation (MATRADE) and the Vietnam Trade Promotion Agency (Vietrade) at Perdana Putra building here on Thursday. Image Source: Malaysian National News Agency (BERNAMA) Richard Khor Datuk A Kohilan Pillay Kelvin Ling Khee Joo Lee Phu Cuong Le James Tan

In 2024, Malaysia exported USD 35.5 million worth of durians between January and September—a significant figure, yet dwarfed by Vietnam’s staggering USD 2.66 billion. While Vietnam capitalized on its industrialized approach and strong partnerships with China, Malaysia’s durian industry remained fragmented, heavily reliant on the premium Musang King. Despite its international appeal, small-scale farmers struggled to scale operations and tap into the global market. Agriculture and Food Security Minister Mohamad Sabu reported by Malaysiakini https://lnkd.in/giav9BgA lamented this disparity in the Dewan Rakyat, pointing out that the bumiputera community had yet to fully benefit from the durian export boom. Emphasizing that his perspective was not racial, he called for structural reforms, including better financing, training, and partnerships to empower local farmers. “Durian is not just a fruit—it’s a symbol of prosperity, heritage, and potential,” he said, urging for greater inclusivity in the industry. As Malaysia grapples with its position in the global durian trade, the contrast with Vietnam underscores the need for urgent change. While some suggest collaboration between the two nations to solidify Southeast Asia as the durian capital of the world, others see this as a wake-up call for Malaysia to modernize its approach and ensure that its own farmers reap the benefits of this golden crop. Phu Cuong Le

Grateful to the British Malaysian Chamber of Commerce (BMCC) CCIFM - CCI France Malaysia Ernst & Young and FIDE Forum for organizing an insightful session on the Economic Outlook & Post-Budget 2025! A big thank you to Johan Mahmood Merican for an enlightening deep dive into the behind-the-scenes strategy of the Ministry of Finance team in crafting Malaysia’s Budget 2025. Your insights help us navigate and refine our own financial planning for 2025 and beyond. Special appreciation to Amarjeet Singh for moderating the fireside chat, bringing out valuable perspectives and keeping the discussion engaging. To Jennifer Lopez and Michel Lozach, thank you for your leadership and selflessness in bringing all chambers of commerce together for this wonderful opportunity, benefiting us all as we work toward a prosperous 2025. #MalaysiaBudget2025 #EconomicOutlook #FinancialPlanning #MalaysiaEconomy #BMCC #EY Khee Joo Lee Richard Khor Datuk A Kohilan Pillay Kelvin Ling

Thanks, Centre for Industrial Relation and Network, CiRNeT UNIVERSITI PUTRA MALAYSIA, for hosting the event. Sustainability is crucial as we drive economic growth, but not at the expense of our natural resources. Yes, it is important that we create a legacy of environmental responsibility and sustainable practices within the corporate sector by fostering a culture of sustainability and encouraging active participation from all of us! Thank you once again, UPM CIRNet! We look forward to the next event! Prof Dr. Shamsul Bahri Amir Heiqal Mohd Rusli Kelvin Ling Karen Law Heidi Ahmad Zahratun Nur

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As we celebrate this Festival of Lights, may your lives be illuminated with peace, prosperity, and happiness. Diwali is a time for unity, joy, and the sharing of goodwill, values we deeply cherish in our community. Wishing all Malaysia-Vietnam Chamber of Commerce(MVCC) members, partners, and friends a joyful Diwali filled with new opportunities, success, and vibrant celebrations with loved ones. May this festive season bring renewed hope and strengthen the bonds of friendship and collaboration across borders. Happy Diwali and may light guide your way!

Malaysia is ready for the ASEAN Chairmanship 2025! Malaysia unveiled the new Hibiscus (Bunga Raya) inspired logo for the ASEAN Chairmanship under the theme "ASEAN Malaysia 2025: Inclusivity and Sustainability." Malaysia being the ASEAN Chairmanship in 2025 enables it to drive regional trade, investment, and economic integration, benefiting Malaysian businesses through reduced tariffs and streamlined agreements. The chairmanship allows Malaysia to attract foreign investments in critical sectors like green tech and the digital economy, creating jobs and supporting local industries. Malaysia can champion SME development, helping local businesses expand across ASEAN markets. By improving regional connectivity, Malaysia positions itself as a central hub for trade and logistics. Additionally, Malaysia can leverage its role to strengthen diplomatic ties and promote tourism, enhancing its cultural and economic influence within ASEAN. Be ready to seize this opportunity together!