KUALA LUMPUR: Malaysia must showcase itself as the preferred destination for global investors, says a major chamber of commerce.
Citing pragmatic economic policies, conducive business ecosystems and a favourable investment climate, Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Tan Sri Low Kian Chuan said Malaysia remains in a strong position as an alternative location for foreign direct investments.
“Malaysia also offers a diversity of competitive selling points to differentiate us from other countries in the region,” he said at the 17th World Chinese Entrepreneurs Convention yesterday.
Low spoke of investment opportunities for both domestic and foreign investors in high-growth and high-value industries like semiconductors, artificial intelligence, electric vehicles and data centres.
Housing and Local Government Minister Nga Kor Ming (pic) said Malaysia is on course to become an Asian tiger, citing its advantages in attracting foreign investments.
For instance, he spoke of the country’s political stability, noting that the government has provided clear guidance through strategic blueprints such as the New Industrial Masterplan 2030 and the New Energy Transition Roadmap.
These blueprints are already yielding results with the economy back on track and GDP growth exceeding expectations over the past two quarters, he said.
Nga said financial institutions such as JPMorgan, Goldman Sachs and Nomura have upgraded their ratings for Malaysia’s market.
Furthermore, he said the minimal language barriers and the presence of international schools here will enable easy integration for foreign investors and their families.
Nga also noted that Malaysia is among the Top 10 most peaceful countries in the world on the 2024 Global Peace Index.
However, he also spoke on the importance of protecting local small and medium enterprises.
“When Chinese companies invest in Malaysia, they should employ 50% local staff and allow local businesses to hold 50% equity,” he said.
The convention, which ends today, saw participation from about 4,000 local and foreign delegates.
