PETALING JAYA: In light of the 50th anniversary of diplomatic relations between Malaysia and China, business groups are pushing for greater collaboration with Chinese companies to expand business opportunities in the rapidly changing market landscape.
The president of the Malaysia-China Chamber of Commerce (MCCC), Loo Kok Seong, emphasized the need for Malaysia to attract more investments in new energy and green technology in order to facilitate technology transfer for the benefit of Malaysian businesses.
He stressed the importance of welcoming not only Chinese investments, but also projects that could drive high-end technology transfer, particularly in areas such as cars and green technology.
Loo expressed hope for increased interaction between companies from both countries in light of the “meaningful” 50th anniversary of Malaysia-China diplomatic relations.
He encouraged Chinese companies that have previously invested in Malaysia to further increase their investments in the country.
Loo anticipates that the 50th anniversary of Malaysia-China diplomatic relations this year will lead to a surge in business and travel visits.
He also mentioned that the MCCC plans to lead local ethnic businesses to Chengdu, China, to explore cooperation opportunities.
Furthermore, he highlighted the entrepreneurial conference held in Hainan, China in January, which aimed to discuss cooperation with the China Council for the Promotion of International Trade.
He emphasized that Malaysia’s multilingual and multicultural nature offers limitless opportunities for Chinese investments.
Loo stressed the importance of bilingualism in investment promotion activities in order to encourage businesses of all ethnicities to engage in exchanges.
He also mentioned the mutual visa exemption policy between the two governments, which would allow companies from both countries to organize visits to explore business opportunities.
The president of the SME Association of Malaysia, Ding Hong Sing, stated that SMEs should enhance their cooperation with Chinese companies to expand their businesses, stressing the potential for Malaysian SMEs to expand their businesses in China through collaboration with Chinese SMEs.
He also pointed out the growing trend of Chinese SMEs investing in South-East Asian countries, with Malaysia being their top choice due to the favorable business environment and conditions.
