Malaysia & Vietnam 2020
The export of electronic devices, palm oil and gas is one of the main reasons that Malaysia is a very promising emerging economy. Also, Malaysia’s location offers many opportunities for solar energy. As a consequence, the country itself is utilising renewable energy at an increasing rate as well. Besides this, Malaysia has a growing middle class, an expected economic growth of around 5% on a yearly basis, a favourable Ease of Doing Business ranking and an increasing interest and knowledge of sustainable energy. All these factors combined make the Malaysian market exceptionally attractive for Dutch expertise.
In the upcoming years, the Malaysian government plans to fully invest in healthcare. There is a focus on the more vulnerable citizens and inhabitants of outlying areas. Moreover, the government also aims to maintain itself as an attractive spot for medical tourism. To ensure a sustainable development of healthcare, Malaysia depends on foreign products and knowledge.
Furthermore, the EU-Malaysia Chamber of Commerce & Industry (EUMCCI) co-finances projects in order to support SMEs in Malaysia. This improves the trade between Malaysia and Europe. Though, Malaysia does not have the biggest home market, it provides a gateway to 3 billion people. Not only in the ASEAN region but also areas such as the Chinese mainland.
Vietnam offers many advantages to Dutch businesses: a giant internal market with more than 95 million inhabitants, a strong expected economic growth of around 6.5 percent, a young and brand aware population, low wage rates, a fast growing middle class, political stability, an abundance of natural resources and a fantastic geographic location. The country provides opportunities in sectors such as smart cities, energy and agriculture. Lastly, the Netherlands is the largest investor in Vietnam amongst its European members, due to Vietnam being one of its focus countries.
Much like Malaysia, the Vietnamese government aims to stimulate sustainable energy, most notably wind energy. Therefore, Dutch developers, financial specialists and technical advisors are very much welcome. Moreover, Vietnam experiences many challenges when it comes to water management and wastewater treatment, fields in which Dutch businesses excel.
In June 2019, the Free Trade Agreement and the Investment Protection Agreement between the European Commission and the Government of the Socialist Republic of Viet Nam was signed. Thus, the Vietnamese economy promises long-term opportunities, since nearly all tariffs (over 99%) will be eliminated.
Would you like to discover the chances for your company or organisation in the Malaysian or Vietnamese market? With a tailor-made research and 30 years of experience, IBR would like to help you to investigate the possibilities for your organisation in Malaysia and Vietnam.