Malaysia is China’s favourite investment destination
KUALA LUMPUR: Malaysia has been perceived as the favourite investment destination, out of four Asean countries, by a delegation of corporate captains and entrepreneurs from China.
Delegates at the China-Malaysia Strategic Business Partnership Forum told StarBizWeek they were impressed by the hospitality and helpfulness of government representatives and the public during their short two-day visit to Kuala Lumpur.
Kuala Lumpur was the final leg of an eight-day tour that also included Bangkok, Jakarta and Singapore for the delegation, which aimed to select two Asean cities to be business investment and incubation centres for Chinese enterprises.
“These two Asean cities will be the first stops for Chinese enterprises that are keen to explore, invest and expand in the Asean region,” said China Daily Asia Pacific senior advisor Alexander Wan.
The delegation’s tour was jointly organised by the China Daily Asia Leadership Roundtable and Aigo Entrepreneurs Alliance. The Star was a media partner at the roundtable.
“This is a long-term strategic plan whereby the establishment of business investment and incubation centres can leverage on the local government’s assistance, information and network.
“Naturally, the two selected Asean cities will be the first stops for Chinese enterprises to invest and create jobs,” said Wan.
While the official results of a vote taken by the delegation concerning the selection of the two Asean cities have not been released, sources toldStarBizWeek that an overwhelming majority of the delagates had picked Kuala Lumpur as their top choice.
Malaysian Investment Development Authority (MIDA) director of metal and fabrication industries division Tan Chee Chai said the Government was commited to providing a conducive business environment for investors in Malaysia.
Tan also said MIDA was adopting a more focussed approach in attracting quality investments in new growth areas and emerging technologies in line with the Government’s efforts to turn Malaysia into a high-income nation by 2020. He pointed out that last year, China was Malaysia’s largest trading partner, export destination and source of imports.
In 2011, Malaysia was China’s eighth largest trading partner and source of imports, as well as its 18th largest export destination.
“These are the resulting positives for Malaysia due to the market access opportunities from the Free Trade Agreement signed between Asean and China,” said Tan.
The forum panelists were Aigo Digital Technology Co Ltd chairman Feng Jun, Bank of China (Malaysia) Bhd CEO Zheng Jingbo, ZTE Corp director of human resources and corporate relations (Asia Pacific) Lindsay Zhang Ling Zhi, Malaysia-China Chamber of Commerce honorary advisor Ng Lip Yong and Wan.
Zhang said the business volume of ZTE Corp (a Chinese provider of telecommunications equipment and network solutions) in Malaysia had grown tremendously in the last decade. – The Star