The first Vietnamese market in Malaysia will be opened in March 2020. The information was announced recently in HCMC.

The first Vietnamese market in Malaysia will be located at Safuan Plaza. (Source: Streetdirectory)

According to Tansri Matshah Safuan, President of Malaysia’s Safuan Group, the Vietnam Market in Kuala Lumpur will be the first large-scale trade centre as part of the cooperation between the two countries. The open of the market is based on the demand for Vietnamese goods and services in Malaysia, he said, adding that the market will serve as a bridge to boost the export of Vietnamese goods to other markets in the Association of Southeast Asian Nations (ASEAN).

The Vietnam Market will consist of a six-storey shopping centre in Safuan Plaza located in downtown Kuala Lumpur, close to major shopping centres, commercial streets and famous tourist destinations.

The upcoming Vietnamese market is expected to be a platform for businesses to export agricultural products, seafood, handicrafts, garments, mechanical equipment, machines, cosmetics, etc of Vietnam. At the same time, it will serve as an ideal place for Vietnamese firms to expand operation in Malaysia.

According to Nguyen Tuan, Deputy Director for the Investment & Trade Promotion Centre of HCM City (ITPC), Malaysia is the sixth largest trading partner of Vietnam, after China, the Republic of Korea, the US, Japan and Thailand, and the second biggest trading partner of Vietnam in ASEAN.

Meanwhile, Vietnam is currently the 12th largest trading partner of Malaysia and the fourth biggest in ASEAN. Vietnam is also one of the major suppliers of rice for Malaysia, Tuan said.