KUALA LUMPUR: Malaysia’s robust economic growth amid a global economic downturn provides a vital gateway for Chinese firms seeking to enter the Asean market, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The Investment, Trade and Industry Minister said Malaysia’s vibrant open market and trade utility, backed by numerous bilateral and multilateral agreements, made the country a strategic base for investors wanting to export goods and services.
“We are also upgrading the China-Asean Trade and Services Agreement, which will further enhance trade opportunities.
“Our open market policy provides an excellent platform for businesses to leverage Malaysia as a hub for regional and global trade,” he told Malaysian and Chinese business leaders at the “Invest in Malaysia, Expand Beyond: A Global Vision for the Future” forum at the 5th World Association Presidents’ Conference (WAPC) here yesterday.
Tengku Zafrul highlighted several factors that gave Malaysia the edge as an investment destination.
“Our robust infrastructure, with strong energy capacity and a net zero target by 2050, supports extensive manufacturing exports, particularly in electrical and electronics (E&E) products,” he said.
The minister said Malaysia’s policy consistency, despite regime changes, fosters a stable environment for long-term business growth, especially in the semiconductor industry.
“Malaysia’s skilled and multilingual workforce also enhances its attractiveness. Our diverse talent pool makes Malaysia ideal for various industries,” he added.
He welcomed global companies to co-invest in five sectors where Malaysia has a competitive edge: E&E, chemical and petrochemical, digital economy, pharmaceuticals and medical devices, and aerospace, to help build a thriving ecosystem, and emphasised a collaborative approach for Asean and Malaysia to thrive.
“We don’t believe in a zero-sum game. A stronger Asean benefits us all, and we are committed to fostering sustainable, inclusive and equitable growth across the region,” he said.
On geopolitics, Tengku Zafrul said the evolving global landscape, particularly shifts in US policies, presents both challenges and opportunities, adding that many companies from China, Europe, the United States and Australia are seeking to “de-risk” their supply chains.
“Malaysia’s position as a neutral country within Asean makes it an attractive destination. We believe in Asean centrality and engage actively with all global partners,” he said.
Looking ahead, he said Malaysia is set to host the Asean-GCC China Summit next May 2025.
“The focus will also be on upgrading the Asean-China FTA next year, acknowledging China as Malaysia’s top trading partner for 15 consecutive years. This is expected to significantly boost trade between Asean, Malaysia and China,” he said.
