KUALA LUMPUR: Malaysia is in a prime position to serve as a gateway for Chinese companies seeking to expand beyond China and tap into the Asean market, says MCA president Datuk Seri Dr Wee Ka Siong (pic).
He said Malaysia is a strategic hub in South-East Asia, which can be used by Chinese companies to expand their economic cooperation within Asean, while also leveraging it as a stepping stone to access global markets and explore further business opportunities.
“This is where the World Association Presidents’ Conference (WAPC) leverage these advantages and provide a platform for businesses from both countries to connect and cooperate,” Dr Wee said ahead of the 5th WAPC set to take place here today.
The conference, the first to be held outside China, serves as a vital platform for advancing Malaysia-China friendship and deepening cooperation within the Belt and Road Initiative (BRI), said Dr Wee.
He noted that the event will bring together more than 700 association and business leaders, facilitating the exploration of new opportunities, comprehension of emerging trends, and strategic adaptation to future challenges.
“The theme of the 5th WAPC is ‘Promoting Trade Liberalisation, Advancing Economic Globalisation’.
“Although the global economy shows signs of recovery post-pandemic, uncertainties such as trade wars persist. MCA aims to assist businesses in navigating these complexities while playing a bridging role to enhance Malaysia-China cooperation and further the BRI,” he said.
Dr Wee stressed the urgency for Malaysia to seize all available business opportunities, as neighbouring countries like Thailand, Vietnam and Cambodia are also actively vying for the lucrative Chinese market.
“We must act swiftly and strategically to ensure our competitive edge, leveraging our unique strengths to capture a significant share of the Chinese market. By doing so, Malaysia can secure its position as a key player in regional trade dynamics and maximise the benefits of its partnerships with China,” he said.
When asked about Chinese companies entering the Malaysian market, Dr Wee encouraged local businesses to remain confident and adapt to the changing landscape.
“We must seize opportunities and avoid stagnation. If they are leveraging artificial intelligence, we need to adjust accordingly,” he said.
Dr Wee also highlighted Malaysia’s strategic geographic position, robust technological foundation in the semiconductor and chip industries, and the thriving halal food sector as key assets that can drive future growth and successful collaborations with Chinese enterprises.
“With the right adjustments, we can go far. By preparing for challenges and forming strategic alliances in China’s vast market with its enormous domestic demand, we can effectively offer our products and services,” he said.
The WAPC, initiated in 2020 by China’s Hangzhou government, was created as a platform for global businesses to exchange ideas and foster cooperation during the Covid-19 pandemic.
The Malaysian edition is co-hosted by the MCA, Malaysia-China Friendship Association, and the China Enterprises Chamber of Commerce in Malaysia.
“The year 2024 marks the 50th anniversary of diplomatic relations between Malaysia and China. Both countries have always placed great importance on our bilateral ties, and we have engaged in exchanges and collaborations across various sectors.
“In September, we held in-depth discussions with the WAPC organising committee chairman Liu Jiang and his delegation, and reached a consensus to bring the conference to Malaysia,” said Dr Wee.
The conference will focus on four core areas – digital economy, healthcare, green energy and financial innovation – key sectors for global economic development and for deepening Malaysia-China cooperation.
Attendees will benefit from a comprehensive programme, including an economic forum, corporate matchmaking sessions, keynote speeches and a closed-door round-table meeting for presidents and CEOs.
Keynote speakers include Malaysia’s Deputy Prime Ministers, Cabinet ministers, and state leaders, who will discuss technology, investment, trade, Malaysia-China relations and government policies.
Business matching sessions will cover, among others, healthcare, halal industry, food and agriculture, real estate, industrial energy and digital commerce, offering targeted networking for the expected 700 entrepreneurs from Malaysia and China.
Six closed-door round-table meetings will be hosted by MCA leaders, focusing on topics such as biomedicine, green energy, food and agriculture, tourism, e-commerce and industrial parks.
Dr Wee said these sessions will provide opportunities for direct interaction with government representatives and industry leaders, facilitating new business opportunities.
“For example, our Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz will brief Chinese businesses interested in expanding into Malaysia. What’s greater than finding out from the minister himself about what to expect?” he asked.
Dr Wee also highlighted the significance of MCA in organising the conference, given its key role in fostering Malaysia-China diplomatic relations.
In the early 1970s, then MCA deputy president, the late Tun Michael Chen Wing Sum, led a delegation to China for a table tennis event, which paved the way for the establishment of formal diplomatic ties on May 31, 1974, through “ping-pong diplomacy”.
“Over the past 50 years, MCA has continued to play an active role in Malaysia-China relations.
“It is apparent from the Belt and Road Committee formed in 2013 to the Malaysia-China Belt and Road Economic and Trade Information Consultation Centre formed in October this year to promote bilateral economic and trade cooperation,” said Dr Wee.
The conference will culminate in a gala dinner celebrating the 50th anniversary of Malaysia-China diplomatic relations, where Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi will deliver a keynote address.
Taking place at Wisma MCA on Jalan Ampang here, the conference will utilise the building’s notable venues, including San Choon Hall and various meeting facilities across its floors, said Dr Wee.
“Surrounded by shopping malls, parks and other attractions, the location offers a range of leisure activities for the family members of attendees, providing them with ample opportunities to enjoy their time while the conference is under way,” he added.
