State President Nguyen Xuan Phuc (R) receives Malaysian Prime Minister Ismail Sabri Yaakob in Hanoi, March 21, 2022. (Photo: VNA)

Mr. Phuc proposed that the two sides boost bilateral cooperation in tourism, culture, science and technology as well as foster people-to-people exchanges.

The leaders agreed that economic cooperation between Vietnam and Malaysia has become a highlight in ASEAN with two-way trade reaching 12.5 billion USD last year, up 25% against the previous year.

Malaysia is Vietnam’s second largest investor in ASEAN with a total investment capital of 13 billion USD.

Prime Minister Yaakob informed President Nguyen Xuan Phuc of the results of his meeting with Prime Minister Pham Minh Chinh earlier at which the two leaders agreed to strengthen cooperation in various fields such as economics, trade, investment, and labor. The two sides also committed to effectively implementing the Action Program for the 2021 to 2025 period regarding the joint strategic partnership, and are preparing to launch activities to celebrate the 50th anniversary of diplomatic relations in 2023.