ACCCIM: Malaysia is best option for China firms looking to relocate operations

KUALA LUMPUR: Malaysia is the best option for business from China that are looking to relocate their manufacturing operations because of its strategic geographical location, said the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

Its president Tan Sri Ter Leong Yap told StarBiz that this is due to Malaysia being at the centre of crossroads of two important shipping lines from the Straits of Malacca and the South China Sea.

“These are two important logistics routes for China.

On top of that our (government) systems are good. We have the manpower and language is not an issue for us.

“It is also a huge potential for China companies to come to Malaysia not just for South-East Asia but also to reach the Muslim market, ” Ter said on the sidelines of the Malaysia-China Enterprises Business Matching Conference 2019.

“I believe the outlook for trade between both Malaysia and China is very good.

“We were the first country in South-East Asia that started bilateral trade relations with China 45 years ago and since then lots of trade barriers between both our countries have been removed, ” Ter said.

ACCCIM, China’s embassy in Malaysia, and the Bank of China (Malaysia) Bhd had jointly organised the business matching conference yesterday to promote two way trade between both Malaysia and China.The 10 focus areas for business matching are: palm oil processing and export; fruits trading; food processing and trading; auto parts and accessories; electronic and electrical; e-commerce; medical supplies; tourism; building materials and logistics; a joint press statement said.

The conference has also received the endorsement from government agencies including Malaysian Investment Development Authority, Malaysia External Trade Development Corporation and SME Corporation Malaysia, as well as major private sector organisations such as the National Chamber of Commerce and Industry of Malaysia, Malaysia-China Business Council, China Enterprises Association in Malaysia and China Students Association Malaysia, it said.

China’s ambassador to Malaysia Bai Tian said in his opening speech that China’s investments into Malaysia has recently increased in sectors such as industrial park, infrastructure, equipment manufacturing, ICT, digital economy, logistics, finance, agriculture and fishery.

“China has been the largest foreign investor in Malaysia’s manufacturing industry for the third consecutive year, injecting strong impetus into the development of Malaysia’s economy, ” Bai Tian said.

2019 Malaysia-China Enterprises Business Matching Conference held yesterday had successfully arranged 305 matching sessions, of which 199 cooperation intentions have been reached, an increased of 70% compared with last year. Moreover, 51 contracts have been signed on site with an increase of 5.7 times compared with last year

Source: TheStar