Malaysia to woo more Chinese investors

PUTRAJAYA: Malaysia has expressed hope that the 6th World Chinese Economic Forum will draw in more Chinese investments.

Transport Minister Datuk Seri Liow Tiong Lai said Prime Minister Datuk Seri Najib Tun Razak had asked President Xi Jinping to help woo more Chinese investors to Malaysia.

He said China had only invested about US$1bil (RM3.3bil) in Malaysia while Malaysia's investments there totalled US$6bil (RM19.8bil).

"We want to go to Chongqing to woo more Chinese investors,” the MCA president said at the 6th World Chinese Economic Forum (WCEF) media launch yesterday.

The Forum, organised by Asian Strategy & Leadership Institute (Asli) and the China Council for the Promotion of International Trade, will be held in Chongqing on Dec 4 and 5. Deputy Prime Minister Tan Sri Muhyiddin Yassin will lead the Malaysian delegation to the forum.

Liow said China had been Malaysia's largest trading partner since 2009, adding that he was optimistic that bilateral trade could be increased from US$106bil (RM349.8bil) to US$160bil (RM528bil) by 2017.

“Malaysia is the third country in Asia to have surpassed the US$100bil (RM330bil) mark, after Japan and South Korea,” he added.

Liow said the forum was also timely as Malaysia will assume the Asean chairmanship next year.

Deepening the relationship between China and Asean in bilateral trade, regional cooperation and people-to-people connectivity was crucial as it would help to further promote peace, stability and prosperity within the thriving region, he said.

“When Malaysia chairs Asean, we will play a greater role and we know that China will help us," he said.

China’s Ambassador to Malaysia Dr Huang Huikang said Chongqing was the right platform for the forum, with its enormous population of almost 30 million and its size of 80,000sq km.

He said the forum was also supported by the Chinese leadership who saw connectivity between China and Asean countries as central to China's Maritime Silk Road initiative espoused by Xi.

At the event, a signing ceremony was held between Asli and several companies as sponsors of the forum.

Star Publications(M) Bhd was represented by its acting group chief editor Leanne Goh.