Mida: China our top foreign manufacturing investor in 2018 first half

MidaA CEO Datuk Azman Mahmud speaks during a press conference on 2nd Sweden-Southeast Asia Business Summit in Kuala Lumpur January 30, 2018. ― Picture by Miera Zulyana
MidaA CEO Datuk Azman Mahmud speaks during a press conference on 2nd Sweden-Southeast Asia Business Summit in 30, 2018. ― Picture by Miera Zulyana

KUALA LUMPUR, Nov 27 — is ranked as the largest foreign investor in ’s manufacturing sector from January to June 2018, with investments of US$1.6 billion (RM6.7 billion).

The Malaysian Investment Development Authority (Mida) said China also came up top in 2017 and 2016, with investments totalling US$949.4 million and US$1.1 billion, respectively.

Mida Chief Executive Officer Datuk Azman Mahmud said the increasing investments from China into Malaysia in recent years was due to the Belt and Road Initiative (BRI) introduced in 2013.

“These investments are also a collaboration with China’s Outbound Investment Strategy that encourages companies to venture abroad to become multinational corporations,” he told reporters today.

Azman said this after hosting a delegation from the China Entrepreneur Club (CEC) at Mida Headquarters here. The CEC delegation had held a meeting with the Prime Minister Tun Mohamad in Putrajaya earlier today.

CEC is the premier business leader platform in China which was founded in 2006 by an elite group of Chinese entrepreneurs with the objective to promote business integrity, economic and social sustainability.

“We share China’s view that the best way to face the headwinds is to increase cooperation, and create mutually beneficial and sustainable growth through trade and investments,” said Azman in his welcoming remarks to the delegates.

He said Mida would want to work closely with the CEC and high net-worth individuals to encourage them to explore Malaysia as their preferred investment destination in Asean.

“Malaysia and China has been enjoying a long standing bilateral relationship, developed for more than four decades,” he said.

Azman said investments from China were focused on Asean — Malaysia, , , Myanmar and , compared to other regions due to many similarities especially in terms of culture and language. — Bernama

Source: The Malay Mail Online

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