General

With the official entry into force of the Regional Comprehensive Economic Partnership (RCEP) in Malaysia, Chinese enterprises have ushered in a new period of opportunity to invest in Malaysia.

Recently, the China Industry Overseas Development Association and the Beijing Office of the Malaysian Investment Development Authority (MIDA) successfully hosted a promotion conference on the theme of "Investing in Malaysia Radiating ASEAN Countries". Representatives from both China and Malaysia gathered on the "cloud" to provide guidance for Chinese companies investing in Malaysia.

China and Malaysia are good partners in jointly building the Belt and Road Initiative. He Zhengwei, President of China Overseas Development Association, said in his speech that on March 18 this year, the implementation of RCEP in Malaysia will further enhance the integration level of East Asian economies and promote the integrated development of regional industrial chains, supply chains and value chains.

"This promotion conference aims to help Chinese enterprises better understand Malaysia's investment advantages, policy direction and excellent business environment, and lay the foundation for further deepening the cooperation between enterprises of the two countries in the field of economy and trade. To promote and promote more Chinese enterprises to Malaysia At the same time, we also hope that the Malaysian side will give more support and provide more convenience for Chinese enterprises to invest in Malaysia and provide more convenience.” He Zhengwei further said.

Malaysia has always welcomed Chinese investors. Malaysian Ambassador to China Raja Datuk Nusilwan said in his speech that Malaysia is the first ASEAN country to establish diplomatic relations with China. Over the years, trade between the two countries has grown steadily. From 2016 to 2020, China has been the largest source of foreign investment in Malaysia's manufacturing industry for five consecutive years. In 2021, a total of 43 Chinese-funded projects in Malaysia have been approved to participate, with a total investment of US$3.98 billion.

“With the rollout of Industry 4.0, the Digital Blueprint, the upcoming 12th Malaysia Plan and the Emerging Industries Plan, and the National Investment Aspiration (NIAs), Malaysia welcomes sectors including high technology, high value added, knowledge and capital-intensive economies. high-quality investment projects.” Raja Datuk Nusilwan revealed that the Malaysian government is revitalizing the manufacturing industry with the aim of producing high value-added, diversified and complex commodities. The government will also continue to prioritize incubation of some sub-sectors, namely electrical and electronics, machinery and equipment, chemicals and chemical products, and aerospace and medical equipment with high growth potential.

Raja Datuk Nusilwan also said, “We agree with China that the best way to face global competition is to strengthen bilateral cooperation and create mutually beneficial and sustainable growth through trade and investment. Facilitating businesses to do business and invest in Malaysia.”

Representatives from related fields in Malaysia also made presentations. Zhang Chuchen, deputy director of MIDA Beijing Office, introduced the investment environment in Malaysia. She said that MIDA, as a statutory government agency in Malaysia, is also the first point of contact for foreign companies to invest in Malaysia. It is mainly responsible for promoting investment and investment in the manufacturing and apparel industries. develop. The Malaysian side attaches great importance to China's successful experience in high-tech, automobile manufacturing, agricultural modernization and other fields, and hopes to attract more Chinese enterprises, especially high-tech enterprises, to increase investment in Malaysia and promote the development of cooperation between the two countries.

Sabah has rich natural resources and natural geographical advantages, especially after the Regional Comprehensive Economic Partnership (RCEP) came into effect in Malaysia, as a geographical link between Malaysia and ASEAN and neighboring countries, it has become the center for enterprises to expand RCEP countries. . Yang Deli, Chairman of Sabah POIC Integrated Industrial Park, mentioned that POIC Lahad Datu Industrial Park was established in Sabah in 2005. It is the first palm oil industrial cluster with comprehensive infrastructure development in the world, focusing on the development of palm oil downstream processing, not only for its 155 10,000 hectares of oil palm plantations add value, create jobs and business opportunities, and are also driving prosperity in the Eastern ASEAN Growth Area (Brunei-Indonesia-Malaysia-Philippines ASEAN Growth Area). In particular, the industrial park has designed a series of preferential policies for Chinese investors, and welcomes Chinese enterprises to invest in Malaysia. Luo Weiwei, Chief Marketing Officer of Sabah POIC Integrated Industrial Park Business Development Department, also said that POIC Industrial Park has huge potential and unlimited business opportunities, and it can become the starting place for Chinese investors to radiate the entire ASEAN market with Malaysia as the center.

It is reported that more than 300 corporate representatives from Tianjin, Shaanxi, Guangxi and other government departments, as well as China National Technology Import and Export Corporation and China Shipbuilding International Engineering Co., Ltd. participated in the promotion online.