Sabah to hold first ever Sabah-China Business Summit to strengthen economic collaboration

KOTA KINABALU: Sabah is set to organise the first ever Sabah-China Business Summit with local businesses and organisations in 2024.

Industrial Development and Entrepreneurship Sabah Minister, Datuk Phoong Jin Zhe said this planned summit held immense potential to fortify economic collaborations between Sabah and China.

He said the summit aimed to bring together key industry players, fostering dialogue, promoting academic and cultural exchanges, and creating opportunities for robust economic engagement.

"We see this initiative as a catalyst for increased investment, trade, and strengthened relationships between the people of Sabah and China," he said, adding this event was to be held in conjunction with the 50th anniversary of Malaysia-China establishing diplomatic relations.

Phoong said the strategic importance of this initiative was further emphasised by the recent announcement from Prime Minister Datuk Seri Anwar Ibrahim regarding new visa-free entry for Chinese citizens.

He stressed the timeliness of this development, underlining the need for Sabah to seize the opportunity to proactively promote investment and strengthen bilateral trade relations with provincial governments and potential investors in China.

"The Sabah-China Business Summit in 2024 holds immense potential to fortify economic collaboration between Sabah and China," he said.

"It is not only a celebration of our longstanding friendship but also a proactive step towards creating a platform for meaningful partnerships," Phoong said.

He said this in a statement following a meeting with leaders from the Chinese community, associations, chambers of commerce, and private sectors.

The meeting resulted in fruitful discussions and the decision to establish a dedicated working committee towards the organising of the event, he said.

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