BEIJING: International Trade and Industry Minister II Datuk Seri Ong Ka Chuan said high-value investments from China could push Malaysian firms up the value chain in key segments of the industry and service sectors.
Speaking at a session on trade connectivity at the Belt and Road Forum for International Cooperation here, he told the audience that major Chinese corporations had taken part in long-term strategic investments in Malaysia.
These included the Malaysia-China Kuantan Industrial Park, Huawei global training centre and Xiamen University Malaysia campus.
“They will spur local businesses, provide jobs to Malaysians and catalyse investment growth,” he said.
The launch of the Digital Free Trade Zone by Prime Minister Datuk Seri Najib Tun Razak and Alibaba executive chairman Jack Ma in March would create new opportunities for investors in Malaysia, Ong said.
“It will be a boost to Malaysia’s e-commerce,” he said, adding that Malaysia was aiming to double its e-commerce growth and increase its GDP contribution to US$47.6bil (RM206.5bil) by 2020.
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