Federal govt, Malaysia-China Business Council to nurture fertile business environment to attract more Chinese investors

In a message in conjunction with the 48th anniversary of Malaysia-China diplomatic relations, Tiong said he hopes for more Chinese investors in Malaysia.

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KUCHING, May 31: The Office of the Malaysian Prime Minister’s Special Envoy to the People’s Republic of China and Malaysia-China Business Council will focus on nurturing fertile business environment conditions for Chinese investors to funnel resources into and set up factories in Malaysia.

The Prime Minister’s Special Envoy to the People’s Republic of China, Dato Sri Tiong King Sing said his team will focus on simplifying red tape as much as possible while protecting the rights and interests of both parties, with a commitment to deepening the industrial supply chain and create better conditions.

“We hope bilateral businesses can truly achieve enterprise docking, carry out robust implementation, and bring value-added roles, products and services,” he said in a Facebook post today.

Tiong who is also the Bintulu MP pointed out that China has been Malaysia’s largest trading partner for 13 consecutive years and bilateral trade volume has grown despite many challenges.

“Since Malaysia and China established formal diplomatic relations 48 years ago, both countries have nurtured a strong and enviable friendship, mutually beneficial ties and jointly scored achievements.

“Many key projects continue to be promoted such as the China-Malaysia ‘Two Countries, Twin Parks’ partnership, and the East Coast Rail Link which demonstrates the strong diplomatic links that we built with unflagging dynamism and resilience.

“The name of the newly born panda cub Sheng Yi meaning peace and friendship, also reflects the warm friendship between our peoples,” he elaborated in conjunction with the countries’ anniversary of diplomatic relations.

Tiong also disclosed that with the reopening of Malaysia’s international borders and the Regional Comprehensive Economic Partnership (RCEP) framework coming into effect on March 18, 2022, Malaysia and China have mutually implemented the RCEP agreement on mutual tariffs expanded market opening measures and some tariff reductions for some products.

“Unleashing the development potential of Malaysia-China trade in goods will help to promote industrial transformation and inject new vitality into local economic development.

“We hope to eliminate trade barriers by complementing the strengths of the industrial supply chain between Malaysia and China. With this we can accelerate the formulation, promotion, and implementation of the Five-Year Programme for Economic and Trade Relations between Malaysia and China,” he added. — DayakDaily