Malaysian, Chinese Firms Urged To Explore Undeveloped Markets

KUALA LUMPUR, Nov 27 (Bernama) – Malaysian and Chinese enterprises are urged to remain proactive and continue to explore undeveloped markets within the two nations despite the current challenging business environment. The National Chamber of Commerce and Industry of Malaysia (NCCIM) President Ter Leong Yap said instead of worrying about external factors that had affected the global business environment, companies from both sides should concentrate on enhancing two-way trade and investment. For instance, he said, Chinese firms should capitalise on Malaysia’s strategic position in ASEAN. “Being a member of ASEAN and the Regional Comprehensive Economic Partnership, Malaysia is an ideal destination and gateway for China to promote trade and investment in the region,” he said in his speech at an NCCIM luncheon meeting with a delegation from China Entrepreneur Club (CEC) here Tuesday. Ter, who is also the President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), said there was still ample room for improvement in Malaysian and Chinese companies’ investments in each other's country. In fact, he said, projects such as the Malaysia-China Qinzhou Industrial Park, Kuantan Port and China’s Southern Transport Corridor offered tremendous investment potential for both nations. “Malaysian industry players have always welcomed Chinese companies’ investments here,” he added. Speaking to reporters later, Ter said the CEC had expressed interest in investing in various sectors in Malaysia, including oil and gas, agriculture and information technology. The 560-member CEC is a premier business leader platform in China. It collectively generated US$603 billion worth of annual revenue and US$980 billion worth of gross merchandise value in 2017. Meanwhile, CEC President Ma Weihua said the delegation had met Prime Minister Dr Mahathir Mohamad earlier Tuesday, which marked the 100th day since the latter’s official visit to China in August. He said the prime minister ensured that the new government would continue to provide a business-friendly environment as well as foreign investment-friendly policies for Chinese investors. China has been Malaysia’s top trading partner since 2009, with the foreign direct investment amounting to RM6.6 billion in the first six months of 2018. -- BERNAMA