MITI generates RM170 bln potential FDI, RM2.44 bln potential exports to China
01 Apr 2023
The Ministry of International Trade and Industry’s (Miti) trade and investment mission to China has generated RM170 billion of potential foreign direct investment (FDI) from China, and RM2.44 billion worth of potential exports to the republic.
The mission, which coincided with Prime Minister Datuk Seri Anwar Ibrahim’s official visit to China, was led by the Miti minister Tengku Datuk Seri Zafrul Abdul Aziz, from March 31 to April 2, 2023, involving visits to Beijing and Ningbo City.
The mission was supported by the Malaysian Investment Development Authority (Mida), Malaysia External Trade Development Corporation (Matrade) and InvestKL.
Tengku Zafrul also met with five Chinese potential investors in Beijing, Miti said in a statement today.
“This mission is part of Miti’s continuous efforts in attracting quality investments and positioning Malaysian companies, particularly the small and medium enterprises, higher in the global value chain.
“We are encouraged by the positive response reflected in the RM170 billion of potential FDI and RM2.44 billion of potential exports.
“This reflects strong Chinese interest in Malaysia, driven by Miti’s pro-industry, pro-trade, and pro-investment focus,” he said.
Tengku Zafrul added that Miti is also capturing important investments in targeted sectors under the New Investment Policy, including electrical and electronics products, and the digital economy, which will create higher-paying jobs for Malaysians.
On April 1, 2023, key events during the mission included an intimate Roundtable Meeting between the prime minister and 36 Chinese captains of industry, and the Malaysia-China Business Forum 2023 attended by over 1,000 business representatives from China and Malaysia.
Miti said the strong participation of business leaders from both countries signified the firm support and confidence in the future direction of Malaysia-China economic ties under the leadership of the Unity Government.
The Prime Minister also witnessed the signing of the 19 Memoranda of Understanding between Malaysian and Chinese companies for future projects in Malaysia, in sectors such as education, health, automotive, property, waste recycling, and logistics.