HANOI: Vietnam has been invited to participate in FSI’s Sabah International Expo (SIE) 2026 at the Sabah International Convention Centre (SICC) from Sept. 25-28.
The invitation was conveyed by Federation of Sabah Industries (FSI) President Richard Lim Yuen Hooi who visited the Vietnam Trade Promotion Agency (Vietrade) of the Socialist Republic of Vietnam Ministry of Industry and Trade here recently to establish closer trade ties.
The FSI delegates were received by Deputy Director of the Investment Promotion Centre for Industry and Trade and delegation Nguyen Ba Hai.
“We exchanged views and ideas on how we can collaborate through FSI for SIE2026 & other business events, as well as cooperation between Vietnam’s Ministry of Industry and Trade, Miti and Sabah Industrial Development and Entrepreneurship Ministry and agencies like Invest Sabah.
Vietrade and ministry officials were also urged to visit and explore trade and investment opportunities in Sabah.
In return, Nguyen invited FSI to lead a trade delegation together with relevant Sabah ministry and agencies for their upcoming Vietnam Foods Expo in November in Hanoi.
He was also open to establishing new working relationships with Malaysia and Sabah, as well as explore ideas and feasible business opportunities.
“Nguyen believed bilateral Vietnam and Sabah trade can flourish with the immense potential of Sabah in downstream processing of agricultural produce.
He is aware that Thailand’s Department of International Trade Promotion (DITP) has supported us for their Mini Thailand Week in our SIE 2023 with more than 70 exhibitors recording great success.
“Thailand will again hold a Mini Thailand Week with 100 exhibitors in our FSI International Expo 2025,” Lim said.
Richard said Vietnam is the new centre of manufacturing in the Asia Pacific with its cheap, young and highly literate labour force, coupled with its favourable investment policy and environment, strategic geographical location and government commitments to improve its legal frameworks for foreign investors with favourable incentives.
Currently, Malaysia enjoys a US$5.2 billion trade surplus with Vietnam as in 2024, Vietnam imported US$11.7 billion from Malaysia, representing a 3.3 per cent increase compared to 2023, but only exported US$6.5 billion to Malaysia in 2024, marking a 6.4 per cent increase compared to 2023.
Malaysia is currently Vietnam’s second-largest trading partner within Asean region and ranks as its 11th largest trading partner globally.
Last year, the bilateral trade between Vietnam and Malaysia reached US$18.14 billion, a 4.4 per cent growth compared to 2023. FSI is confident that the trade volume will grow in future.
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