New Normal, New Opportunities＂ Malaysia-China Economic & Malaysia welcomes investment in high-tech, intellectual capital-intensive industries

(November 18, 2020, Shanghai) Today, the Malaysian Ministry of International Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA) have joined hands with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) and China Construction Bank (CCB). Shanghai successfully hosted the “New Normal, New Opportunity” Malaysia-China Economic and Trade Forum. Deputy Minister of International Trade and Industry of Malaysia Datuk Lin Wanfeng, Assistant Minister of Commerce of China Li Chenggang, Consul General of Malaysia in Shanghai Qiu Shihao, Representative of Shanghai Municipal Commission of Commerce, Malaysia Chamber of Commerce in China (Shanghai), Deloitte Consulting (Shanghai) Co., Ltd., Tangxing, Anhui Enterprise representatives from Machinery Equipment Co., Ltd. and China Construction Bank Shanghai Branch participated in the meeting.

　　 This conference is divided into online forums and offline thematic discussions, aiming to introduce the current business environment in Malaysia to the participants and share successful cases of foreign companies’ direct investment in Malaysia. Provide a good opportunity for companies interested in going to Malaysia to evaluate and further understand the business investment environment and potential of Malaysia.

(Upper left: Deputy Minister of International Trade and Industry of Malaysia Datuk Lin Wanfeng; lower left: Malaysian Investment Development Authority, Executive Officer Datuk Azman Mamud; upper right: Assistant Minister of Commerce of China Mr. Li Chenggang; lower right: China Construction Bank (Mr. Feng Qi, President of Malaysia) Limited)

According to the Malaysian Investment Development Authority, despite the impact of the global epidemic, Malaysia’s total approved investment in manufacturing, service and primary industries in the first half of 2020 will still reach 64.8 billion ringgit (about 105 billion yuan). Among them, the manufacturing industry attracted the most investment, with a total of 35.7 billion ringgits, accounting for 55.1% of the total investment; followed by the service industry 28.6 billion ringgits, accounting for 44.2% of the total investment. Among these, investment from China’s manufacturing, service industries and primary industries reached 2.2 billion ringgits (about 3.5 billion yuan). In addition, in the first nine months of 2020, 58 manufacturing projects involving China have been approved, with a total investment of 16.8 billion ringgit (approximately 27.2 billion yuan).

When talking about investment opportunities in Malaysia, the Malaysian Investment Development Authority, Executive Officer Datuk Azman Mamud said: “In response to the adverse impact of the epidemic, the Malaysian government is committed to improving the investment environment. The economic revitalization plan and incentive measures welcome Chinese companies to invest in Malaysia and further expand bilateral trade and investment. Malaysia particularly encourages capital-intensive, high value-added and high-tech companies to expand their business in Malaysia, including automated machinery and robotics. Companies in industries such as, aerospace, biopharmaceuticals and medical devices, advanced information technology, new materials, and new energy vehicles and equipment are helping to promote Malaysia’s economic transformation and upgrading.”

The Deputy Minister of Trade and Industry of Malaysia Lin Wanfeng also said in his speech: “The signing of the historic Regional Comprehensive Economic Partnership (RCEP) is of extremely important significance to the realization of a free and open international economic order, and reflects our commitment to international trade, Connectivity, a rule-based multilateral trading system, and a firm commitment to promote the free flow of trade and investment. Malaysia believes that RCEP can be used as one of the tools to fight the new crown pneumonia and restore the economy. The implementation of the agreement will help ensure the market The open and uninterrupted supply chain includes the establishment of greater trade integration and a diversified production network with China.”

At the event site, business representatives from China also shared successful cases of investment in Malaysia. The representative of Anhui Tangxing Machinery Equipment Co., Ltd. said: “Tangxing Machinery Equipment has achieved a breakthrough in adversity under the epidemic. We value Malaysia’s investment potential very much. This year we started the establishment of a subsidiary in Malaysia and are preparing to further expand the Southeast Asian market. Malaysia’s business environment is very suitable for the development of Chinese high-tech enterprises, providing many conveniences for multinational enterprises, and is the starting point for enterprises to go global.”

Panel Discussion: Let Malaysia be your global supply chain,

(From left: Ye Zhihui, vice chairman of the Malaysian Chamber of Commerce in China (Shanghai); James Jamsun, Investment Consul of the Malaysian Consulate General in Shanghai; Gary Visa Consul, Malaysian Consulate General in Shanghai; Wang Xuehao Tax Director of Deloitte Consulting (Shanghai) Co., Ltd.; Anhui Tangxing Machinery Equipment Co., Ltd. Tang Ximing Deputy General Manager; China Construction Bank (Shanghai Branch) Zhou Chan International Business Department International Finance Section Chief)

China has maintained its status as Malaysia’s largest trading partner for 11 consecutive years, and has become the Malaysian manufacturing industry and source of foreign investment for 4 consecutive years. The Malaysian government attaches great importance to and actively participates in the joint construction of the “Belt and Road” cooperation, and is willing to strengthen regional connectivity with China, leverage complementary advantages, and further expand bilateral trade and investment exchanges. It is believed that in the post-epidemic era, Malaysia-China economic and trade cooperation will achieve greater development.

About the Malaysian Investment Development Authority (MIDA)

MIDA is the main investment promotion and development agency of the Malaysian government, under the Ministry of International Trade and Industry (MITI), responsible for overseeing and promoting investment in Malaysia’s manufacturing and service industries. Headquartered in Kuala Lumpur, it has 12 regional offices and 20 overseas offices. MIDA is a strategic partner of enterprises, which can assist enterprises to seize the opportunities brought by technological revolution in this era.