Take up flexible packages, Chinese investors urged


  • Business
  • Tuesday, 29 Mar 2005

CHINESE investors should take advantage of the very flexible incentive packages offered for high-tech, value added, knowledge-driven, and capital intensive projects in Malaysia. 

Deputy International Trade and Industry Minister Mah Siew Keong told a one-day business and investment seminar here that these flexi-packages could also be tailored to the needs of investors. 

“All you need to is to talk to us about your investment plans and your needs. We can work out a special package for you,” he told about 500 Chinese businessman. 

“We know the Chinese have become big investors. We hope you will choose Malaysia, not only because of its stable socio-political environment, but also because Malaysia is the gateway to the Asean region which has a total population of 250 million people.” 

Mah is leading a 31-member Malaysian delegation on a week-long tour of China covering Qingdao, Guandzhou and Chengdu, to promote two-way business and investment. 

He said, up to last year, 64 projects with Chinese participation, involving total capital investment of US$906.8mil, had been approved. They were in basic metal products, chemical and chemical products and transport equipment. 

Approved Malaysian projects in China by the end of last year totalled 1,796, with realised value of US$2.4bil. These were in telecommunications, water and gas, electricity, leasing, real estate and construction. 

Mah said Malaysia welcomed Chinese investment in all sectors of its economy. Besides those in the high-tech, capital intensive and knowledge driven industries, the Government also encouraged the manufacture of intermediate goods, chemicals and pharmaceuticals, as well as resource-based manufacturing. 

The Government is also promoting small- and medium-scale industries, particularly those that are export-oriented, as well as investments in the food industry, tourism, education and franchise business. 

Mah said bilateral trade between Malaysia and China had risen eight-fold since 1995, from US$2.4bil to US$18.8bil. China has been Malaysia’s fourth largest trading partner since 2001. 

He noted that the Asean-China FTA would be established within 10 years, and that similar arrangements were being actively pursued with Japan, South Korea, India, Australia and New Zealand. 

Qingdao, the first stop of the business tour, is the gateway to northern China, the country’s third biggest port, and a partner city with Beijing for Olympics 2008. 

Trade between Malaysia and Qingdao amounted to US$500mil last year, mainly in rubber, palm oil, timber products, electrical and electronics parts. Growth potential is huge because of the region’s fast and robust economic expansion. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Across the site