China An Invaluable Strategic Partner -- Says Malaysia's ACCCIM

KUALA LUMPUR, Jan 12 (Bernama) -- China is an invaluable strategic partner that have led to numerous win-win situations in Malaysia, said the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). It said China's investment commitments not only gave a direct boost to the economy but also enhanced investor confidence in Malaysia. "As such, both the public and private sectors should build on this in order to attract more domestic and foreign investments, thereby enhancing economic development and growth," it said in a statement today. ACCCIM President Datuk Ter Leong Yap said Malaysia and China had always maintained close bilateral ties since diplomatic relations were first established in 1974. "In fact, the frequent exchanges and visits between the top leaders of both countries are a testament to these excellent relations, resulting in around US$100 billion bilateral trade, as well as the recent large-scale economic investment projects. "The social and economic benefits are clear. Trade and economic cooperation with Chinese enterprises have created many business and employment opportunities," he said. He reiterated that many countries were trying hard to court Chinese investors and Malaysia must stay ahead of the curve by building on our position as the destination of choice for foreign investors, especially those from China. "It is worth highlighting that the deepening relationship between the two countries are not purely economic," said Ter, who is also the National Chamber of Commerce and Industry of Malaysia President. Citing an example, he said four years ago when top-ranked Xiamen University decided to expand overseas, both the Chinese and Malaysian governments were instrumental in the establishment of Xiamen University Malaysia (XMUM), the first Chinese university outside China. "This campus not only brought in RM1.3 billion in investments but also a strong line-up of world-class academics, of whom about 80 per cent have doctorate degrees. "The 10,000 students targeted to eventually enroll in the highly-respected XMUM will not only strengthen Malaysia's position as a preferred global education hub that is capable of attracting the best talents from overseas, but also provides Malaysian students with the chance to hone their skills to global standards," said Ter. He pointed out that it was wrong to regard Chinese investments as a one-way street. "To thrive at the global stage, Malaysia should recognise and grasp these opportunities, and in this respect, we are fortunate to have the Chinese as important strategic partners," he said. -- BERNAMA