Malaysia-China investments set to rise
Officer, Datuk Azman Mahmud and Bank of China CEO, Wang Hong Wei signed on
behalf of their respective bodies, witnessed by Deputy Prime Minister Tan Sri
Muhyiddin Yassin during the Malaysia-China captains of industry roundtable
meeting here on Tuesday night.
The MoU will pave the
way for the bank to refer potential foreign direct investors from China to MIDA
while the bank can provide financing packages for successful applicants to
facilitate its investment in China.
The Deputy Prime Minister
was in China for a six-day official visit accompanied by Minister of Transport,
Datuk Seri Liow Tiong Lai and Deputy Minister of International Trade and
Industry, Datuk Lee Chee Leong.
Tan Sri Muhyiddin
said approved investments from China have touched US$1.46 billion (RM5.03 billion)
for the first seven months of the year, surpassing the total investments for
last year. Investments from China had increased significantly over the five
years from US$10.3 million (RM35.45 million)
in 2008 to US$1 billion (RM3.45 billion) in 2013, he said.
He welcomed Chinese
investors to explore business opportunities in Malaysia, which has a conducive
business environment and recognition by international institutions in various
global rankings. Malaysia’s chairmanship of ASEAN in 2015 would bring about
benefits to the Chinese business community, particularly those who have
established a presence in Asean countries.
The ASEAN Economic
Community (AEC) would move towards reducing barriers to trade and investment,
making it easier for the flow of goods, services and capital while increasing
competitiveness under a common market regime, he added.
In addition, the
setting up of a yuan clearing bank had also been agreed upon by the heads of
state of both countries, which would facilitate and reduce the cost of doing
business, a major boost for the business community, he said.
Tan Sri Muhyiddin also
witnessed the exchange of an MoU between Sincere World Land and Development Sdn
Bhd and China Construction International Co Ltd for the purchase of a 19-storey
hotel as part of the integrated development of The [email protected] World in
Iskandar Malaysia in Johor.
Meanwhile, Liow said
the Chinese businessmen at the meeting had expressed keen interests to come to
Malaysia, a gateway for them to tap the ASEAN and Asia-Pacific markets.
Source NST Business
Times and StarBiz 4 Dec 2014