According to Dato’ Azman, “MIDA has been producing promotional materials since the 1970s. Over the years, we have kept up with the trends and continually produce materials that are relevant to our target audience. These materials are available in multiple languages besides our national language, such as Mandarin, Japanese, Korean, German, French and Spanish. Today, we are pleased to have ICBC on board with us.”
“China is certainly an important strategic business partner for Malaysia. This long term relationship is further reinforced by ICBC’s presence here. Financial establishments like ICBC in Malaysia have paved the way for increased business and investment opportunities. In addition to having easy access to the necessary financial services, information accessibility is also vital to assist investors in making well-informed investment decisions,” added Dato’ Azman.
Mr. Yuan Bin said ICBC has been actively providing banking service solutions that enable their clients to tap into valuable investment opportunities worldwide. In supporting the “One Belt One Road”, “Going Global” and “International Capacity Sharing” initiatives launched in recent years, ICBC Group has supported 170 major cross border investments amounting to USD42.7 billion. In the pipeline, there are another 454 investment projects with an estimated investment value of USD468.8 billion, covering various essential industries ranging from power generation, infrastructure, manufacturing and mining.
“ICBC Malaysia serves as a financial gateway to promote bilateral investments between China and Malaysia since its establishment. Some initiatives taken include engaging government agencies and regulators on matters related to government to government initiatives such as RMB Qualified Foreign Institutional Investor (RQFII) and One Belt One Road, organising seminars that involve our target clients and trade organisations, providing financial solutions and advice to assist our clients in materialising their business ventures and investments. The cooperation with MIDA in producing its promotional materials will meaningfully add value to ICBC’s on-going efforts to promote bilateral investments between China and Malaysia. We shall continue to look for more opportunities to work together in achieving our common goals,” said Mr. Yuan Bin.
FDI from China has been on an increasing trend for the past 8 years. As at end of 2015, FDI inflows from China stood at RM1.15 billion as compared to RM201 million in 2008. This growth is commendable in view that the first major investment from China into the Malaysian manufacturing sector was only recorded in 1988. The strong interest from China is expected to be sustained. China is also presently one of the top 5 foreign investors in the country.
Malaysia hosts some of China’s giants such as China National Machinery Import and Export Corporation, Alliance Steel, Sinohydro Corporation Ltd and Comtech Solar International. Many Chinese investors have also ventured into Malaysia’s services sector. Among them include Huawei and ZTE Corp. in telecommunications, Xiamen University in education and Country Garden & Greenland Group in real estate. In addition, China Railway Group Limited (CREC) together with Iskandar Waterfront Holdings Bhd (IWH) and Ministry of Finance (MOF) will be developing an integrated underground city in Bandar Malaysia.
Last year, MITI and China’s National Development and Reform Commission (NDRC) entered into an agreement to develop and intensify the bilateral economic relations. This will be a platform for investors who are keen to divest or are seeking partners to expand their investments. MIDA will be the implementing agency for Malaysia. Malaysia’s areas of interests include advanced electronics, aerospace, renewable energy and energy conservation products, bio-pharmaceuticals, high end equipment and medical devices which highly matches the focus sectors of China’s outward investment in its 13th Five-year Plan (2016-2020).
For further information, please contact:
Puan Zalina Zainol
Director, Information & Communications Division, MIDA
Tel: 03-2263 2437
Mr. Alfred Chong
Deputy Chief Risk Officer
Industrial and Commercial Bank of China (Malaysia) Berhad
Tel: 03- 2301 3302
As the world’s largest banking group in terms of assets and profitability, Industrial and Commercial Bank of China (ICBC) has been actively providing banking service solutions that enable its clients in tapping into valuable investments opportunities worldwide. To date, ICBC Group has established 404 institutions in 42 countries. The banking group is now serving 5.32 million corporate clients and 496 million consumer clients worldwide via its 16,732 physical outlets, 29,043 self-service terminals as well as e-banking channels.
Established in 2010, ICBC Malaysia is set to be a financial gateway that promotes bilateral trade and investments between China and Malaysia. With 5 branches in Malaysia, the Bank offers corporate and commercial banking service solutions, cash management, mortgage loans, cards, private banking and e-banking services to its clients, comprising of government linked corporations, cross border conglomerates, business enterprises and retail clients.