MARKET DEVELOPMENT
Malaysia Face Challenege to Attract China’s Investment
Malaysia Face Challenege to Attract China’s Investment
18/07/2014 (The Sun Daily) Malaysia faces a challenge in its goal to get US$160 billion (RM510.26 billion) in investments from China by 2017 due to the unstable global economic situation, said Malaysia-China Chamber of Commerce (MCCC) president Datuk Bong Hon Liong yesterday.
Speaking to reporters at Wisma Chinese Chamber here yesterday, he added that besides that, Malaysia and China were also experiencing a period of slow economic development.
Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM ) president Datuk Lim Kok Cheong, who was also present, said he believed that Malaysia could achieve the goal if everyone works harder to attract more Chinese investors to invest in the country.
Malaysia has facilities and resources which could attract Chinese investors to develop their businesses here, he added.
"We have many products, including palm oil and other agriculture products, that can meet the needs of the China market," he said.
Earlier, Lim announced that the ACCCIM and MCCC have been asked by the Ministry of International Trade and Industry (MITI) to jointly set up the Malaysia Guest Country of Honour Pavilion at the 18th China International Fair for Investment and Trade (CIFIT) to be held from Sept 8 till Sept 11 at Xiamen, China.
He added ACCCIM and MCCC were being authorised by MITI to jointly organise Malaysia Guest Country of Honour Pavilion of the fair.
"The fair will provide a platform and opportunity for Malaysian companies to export their products and services to China," he said.
Deputy International Trade and Industry Minister Datuk Lee Chee Leong, who was the guest-of-honour at the event, said Malaysia has remained China's largest trading partner with Asean countries.
He added the country exports to China so far this year amounted to US$106.08 billion (RM338.30 billion), which accounted for 23.9% of China's total trade with Asean countries.
"According to latest statistics, Malaysia is the third Asian country after Japan and South Korea to breach the US$100 billion (RM318.91 billion) trade with China.
"So, I hope MCCC and ACCCIM will continue to work closely with their Chinese business counterparts to further enhance trade and investment activities," he said.
Speaking to reporters at Wisma Chinese Chamber here yesterday, he added that besides that, Malaysia and China were also experiencing a period of slow economic development.
Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM ) president Datuk Lim Kok Cheong, who was also present, said he believed that Malaysia could achieve the goal if everyone works harder to attract more Chinese investors to invest in the country.
Malaysia has facilities and resources which could attract Chinese investors to develop their businesses here, he added.
"We have many products, including palm oil and other agriculture products, that can meet the needs of the China market," he said.
Earlier, Lim announced that the ACCCIM and MCCC have been asked by the Ministry of International Trade and Industry (MITI) to jointly set up the Malaysia Guest Country of Honour Pavilion at the 18th China International Fair for Investment and Trade (CIFIT) to be held from Sept 8 till Sept 11 at Xiamen, China.
He added ACCCIM and MCCC were being authorised by MITI to jointly organise Malaysia Guest Country of Honour Pavilion of the fair.
"The fair will provide a platform and opportunity for Malaysian companies to export their products and services to China," he said.
Deputy International Trade and Industry Minister Datuk Lee Chee Leong, who was the guest-of-honour at the event, said Malaysia has remained China's largest trading partner with Asean countries.
He added the country exports to China so far this year amounted to US$106.08 billion (RM338.30 billion), which accounted for 23.9% of China's total trade with Asean countries.
"According to latest statistics, Malaysia is the third Asian country after Japan and South Korea to breach the US$100 billion (RM318.91 billion) trade with China.
"So, I hope MCCC and ACCCIM will continue to work closely with their Chinese business counterparts to further enhance trade and investment activities," he said.