PM sees rising interest in Malaysia among Chinese investors, companies

SHANGHAI: Chinese investors and companies are showing greater interest in Malaysia, according to Prime Minister Datuk Seri Anwar Ibrahim.

"This is a very positive development," he told the Malaysian media after holding a roundtable session with over 20 industry leaders here today.

The Prime Minister said there were discussions on national policies, including on regulations and investment.

"Hence, I have seen rising enthusiasm and interest (shown by investors and companies from China)," he said.

Asked on potential investments secured during the current visit, Anwar replied: "We will announce the amount tomorrow."

The Prime Minister started the day by attending a dialogue session with Chinese investors organised by Khazanah Nasional Bhd.

"It has been exhausting as there have been back-to-back meetings since morning, but I think this is beneficial," he said.

Separately, the Prime Minister's Office (PMO) said Anwar had engaged in several productive discussions with Chinese investors on the third day of his working visit to Shanghai, China.

The investors include Chengwei Capital, a prominent venture capital firm with proprietary global semiconductor expertise and resources; and NRL Capital, whose founders have played instrumental roles in the successful development of high-tech industrial clusters in China.

The PMO said the discussions anchored on Malaysia's centrality and its attractiveness as an investment destination given its talented workforce and supportive government policies.

It said the Prime Minister also discussed potential collaborations with these investors with regard to investing in technology and innovation in Malaysia.

"These investors will look at collaborating with Khazanah Nasional in building next-generation Malaysian companies to further boost Malaysia's prominence in global supply chains, particularly in high technology sectors.

"This will drive the Madani Economy vision of fostering innovation and making technology more accessible and inclusive to all," the PMO said in a statement issued here today.

Besides attending the dialogue and roundtable sessions, the Prime Minister also met with several companies in one-to-one business meetings.

They comprised representatives from the Bank of China, SinoChem, SICC Co Ltd, SEMCORP, and Zhejiang Jiahua Energy Chemical Industry Co Ltd.

The Prime Minister is expected to depart from Shanghai in the afternoon today, the first stop before Beijing.

He is accompanied by Foreign Minister Datuk Seri Mohamad Hasan; Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz; and Human Resources Minister Steven Sim Chee Keong.

The Prime Minister's working visit to China is at the invitation of his counterpart Li Qiang to attend the 7th China International Import Expo (7th CIIE) in Shanghai.

CIIE is a trade fair organised by the Chinese government that provides a platform for countries involved in the Belt and Road Initiative to promote and export goods and services to the country.

For 15 consecutive years since 2009, China has been Malaysia's largest trading partner.

In 2023, total trade with China was valued at RM450.84 billion (US$98.80 billion), contributing to 17.1 per cent of Malaysia's global trade.

As of September 2024, the recorded total trade was RM355.15 billion (US$76.72 billion).

In the first half of 2024, a total of 15 manufacturing projects were implemented with investments totalling RM1.2 billion (US$252.5 million).

This trip marks Anwar's third visit to China as Prime Minister, after his maiden visit in March 2023 that was followed by another in September of the same year.

However, this is his first visit to Shanghai.

The four-day working visit will end in Beijing on Nov 7.

-- BERNAMA

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