Malaysia, Vietnam Make New Trade Agreement, an Industrial Info Market Brief

Malaysia's Prime Minister Mahathir Mohamad together with high level officials paid an official visit to Vietnam last month. The Malaysian delegation was welcomed by the Prime Minister of Vietnam Nguyen Xuan Phuc. The three-day visit aimed to boost bilateral ties and open more trade and investment opportunities for both countries. Part of the signed agreement was to strengthen economic partnership and increase trade share from $13 billion in 2018 to $15 billion by 2020, which includes the agrochemical and petrochemical sectors. Industrial Info is tracking $7.67 billion worth of Chemical Processing projects in both countries that will start construction in 2020. Click here for a list and see graph below for investment by sector.