PETALING JAYA: As Malaysia marks the 50th anniversary of diplomatic ties with China, the rise in business delegations underscores a growing synergy in trade, technology, and tourism, according to business chambers.
Malaysia-China Chamber of Commerce (MCCC) president Loo Kok Seong said there was a significant 30% increase in business delegations from China to Malaysia compared with the previous year, reflecting a strengthened economic relationship.
“The visa exemptions agreed upon by both governments have opened more doors for Malaysian businesses to explore new opportunities,” he said.
According to the Malaysian Investment Development Authority (Mida), Malaysia recorded a landmark RM329.5bil in approved investments last year.
Loo said the MCCC is keen on fostering ties with high-tech industries, including new energy, big data, 5G, and artificial intelligence, to attract and retain talent while importing advanced technologies from abroad.
He emphasised the potential for Malaysia to catch up with China’s progression into “Industry 5.0” by leveraging the close geographical, cultural, and educational ties that facilitate mutual growth.
Industry 5.0 refers to the integration of humans along with technology in the automated industrial environments of the future.
Datuk Dr Angie Ng, chairman of the MCCC Women Entrepreneurs Committee, said the upcoming 2nd East Asia Women Entrepreneurs Conference expects over 300 participants from China.
“Not only that but several business delegations are coming to meet with us each week, including those from the electronics, education, medical, tourism and agriculture sectors,” she said.
“Female entrepreneurs are interested in finding partners in Malaysia.
“The labour cost in Malaysia is reasonable, the climate is suitable, and the land is fertile and conducive to year-round cultivation.
“Therefore, many Chinese businesses hope to invest in planting in Malaysia and then supplying it to China. For instance, growing corn that can become fodder for livestock,” she added.
Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Tan Sri Low Kian Chuan said the 50th anniversary of diplomatic relations between Malaysia and China offers an unparalleled opportunity for strengthening ties.
“ACCCIM is actively channelling promising delegations to state-level affiliates.
“Our focus is on identifying enterprises that can enhance Malaysia’s economic landscape through strategic partnerships, particularly those within the high-tech sector capable of transferring advanced technological skills or contributing to local technical and vocational training programmes,” he said.
Stressing the significance of political stability in attracting foreign investment, Low called for enhanced clarity and precision in the foreign investment regulations to ensure the protection of Malaysian business interests.
Furthermore, he said ACCCIM will host the 17th World Chinese Entrepreneurs Convention from Sept 9-11 at the Kuala Lumpur Convention Centre.
The number of attendees has already exceeded expectations, he said, which he believes is a testament to the strong relations between Malaysia and China.
Federation of Motor and Credit Companies Association of Malaysia president Datuk Tony Khor called on Chinese investors to see Malaysia as the gateway to Asean for the automotive industry.
He said Malaysia has a healthy vehicle market and the potential as an ideal spot for China to deepen its manufacturing footprint.
“We’ve got a population eager to buy cars and our sales numbers prove it. Even with a population that’s just a fraction of our neighbours, we’re pulling ahead in car sales in the region,” he said.
Khor pointed out that Malaysia outsells Thailand in cars, despite Thailand having twice the population, and noted how Malaysia’s market differs from Indonesia’s, which is dominated by commercial and low-priced vehicles.
As Malaysia and China celebrate 50 years of relations, Khor is enthusiastic about the influx of Chinese brands at Malaysian auto shows, especially those bringing cutting-edge electric vehicles (EVs).
“They’ve got this futuristic look and the kind of tech that can stand up to any global brand,” he said.
According to Khor, the success of EVs hinges on three key technologies: efficient batteries, powerful motors, and advanced processors.
“This is more than business. It’s about bringing cutting-edge technology and high-skilled jobs to Malaysia, giving our young workers a chance to shine alongside some of the best in the field,” he added.
