Liew urges Chinese companies to set up regional HQs, expand internationally through Malaysia
16 Oct 2024
Chinese companies should consider Malaysia an ideal destination to set up regional headquarters, from which they can expand internationally through Malaysia, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.
In his pre-recorded keynote address at the CGS Southeast Asia (SEA) Bilateral Investment Forum here on Wednesday, he said Malaysia’s strength lies in having a skilled and educated multilingual workforce, an internationally-recognised common law framework, a comprehensive logistics network, and a stable society.
He hopes that further communication between Malaysia and China would allow for a deeper and closer collaboration between the two countries.
“In addition to traditional economic and trade cooperation, Malaysia and China should work together on new emerging industries, especially new energy vehicles and solar photovoltaic systems.
“We look forward to closer cooperation in technology development and its application to solve daily challenges,” he said.
In addition to Malaysia assuming the Asean chairmanship next year, Liew said Chinese companies should view Malaysia as a gateway to the rest of Asia.
He noted that the 10 Asean countries currently had a population of 670 million, which is expected to grow to over 800 million in the next two decades.
“When China joined the World Trade Organization in 2001, about 100 million people were considered to be in the middle class.
“Today, by any measure, China has at least 400 million people living a middle-class lifestyle, making it a huge global market,” he said.
According to Liew, if Southeast Asia can develop a middle-class population as large as China’s current 400 million in the next 15 to 20 years, the region will also emerge as a very large consumer market.
“There are many areas where China and Southeast Asia can collaborate. We hope that when Malaysia assumes the Asean chairmanship next year, we can promote more cooperation, especially in new industries, such as new energy vehicles and its standards,” he said.
Meanwhile, the two-day CGS SEA Bilateral Investment Forum 2024 brings together 300 leading policymakers, industry experts, and business leaders to explore emerging macroeconomic trends and bilateral investment opportunities between China and Southeast Asia.
The forum until Thursday will also explore high-growth sectors such as semiconductors, new energy, healthcare, private equity, hospitality, and the digital economy, featuring expert panellists from China and Southeast Asia.
China Galaxy Securities Co Ltd (CGS) chairman Wang Sheng said the focus on diversified and resilient supply chains had heightened the importance of the China-Asean corridor, creating global growth opportunities for ambitious businesses.
“At CGS, we have always believed in the power of connection and collaboration.
“We aim to facilitate cross-border investment and financing, thereby fostering economic and social development across China and Asean,” he said.
As China advances its plans to establish Hainan as the world’s largest free-trade port by 2025, he said the forum will offer invaluable insights into how this transformation will reshape China’s economy and create fresh opportunities for collaboration between Hong Kong, the Greater Bay Area, and Southeast Asia.
Source: Bernama
