Kuala Lumpur, July 15: The Prime Minister’s Special Envoy to China and the Chairman of Malaysia-China Business Council Tan Sri Ong Ka Ting said that although the Malaysia-China Kuantan Industrial Park was comparatively smaller in size than the China-Malaysia Qinzhou Industrial Park, Kuantan should be regarded as only the starting point as joint-venture development could be extended to the east coast and then the west coast of the Peninsula, and eventually to East Malaysia.
“Malaysia and China need not confine our co-operation in the development of the sister parks. Besides high-tech industries, we should extend our co-operation to tourism and other sectors,” said Tan Sri Ong who is also Chairman of the Malaysia-China Business Council.
He said Malaysia’s Economic Transformation Programme was now running on full steam in order to develop an inclusive and sustainable high-income society.
“Our goal of uplifting the quality of life of our people is similar to the Chinese dream of building a harmonious and progressive society. We share the same vision and conviction,” he added in his address at a networking dinner attended by Malaysian and Guangxi top entrepreneurs and business leaders.
The VIPs and business leaders attended the dinner included the Ambassador of P.R. China H.E. Datuk Chai Xi, the Governor of Guangxi Zhuang Autonomous Region H.E. Chen Wu, the Vice Governor of Guangxi Zhuang Autonomous Region H.E. Zhang Xiaoqin, the Executive Chairman of Rimbunan Hijau Group Tan Sri Sir Tiong Hiew King, CEO of Matrade Datuk Dr. Wong Lai Sum, the Honourary President of MCCC Datuk Yong Ah Pwi, Executive Chairman of TS Law Holding Tan Sri David Law Tien Seng, Chairman of Lion Group Tan Sri William Cheng, Founder of The Mines Group Tan Sri Lee Kim Yew, Executive Chairman of IOI Group Tan Sri Lee Shin Cheng, President of Huazong Tan Sri Pheng Yin Huah, Managing Director of Bina Puri Group Tan Sri Tee Hock Seng, Managing Director of Melati Ehsan Holdings Bhd. Tan Sri Yap Suan Chee and COO of SP Setia Bhd. Dato’ Voon Tin Yow.
Tan Sri Ong said last year Guangxi chalked up a new record in its external trade totaling US$29.5 billion or RM88.5 billion, up a hefty 26.2 per cent which was the sixth fastest in China. Guangxi’s revenue for the first half of this year had already breached RMB100 billion mark.
“Without a doubt, Guangxi is the best place for well-established Malaysian entrepreneurs to make their inroads into China,” he said, adding that the networking dinner indeed offered the best opportunity for Malaysian and Chinese entrepreneurs to explore joint-venture potential.
He hoped that as Malaysia’s Economic Transformation Programme was gaining momentum, leading entrepreneurs from Guangxi should seize the opportunity to invest in this country to help speed up the implementation of its transformation programme.
The Chinese Ambassador Datuk Chai Xi said trade between China and Malaysia jumped 20.9 per cent to US$43.15 billion (RM129.45 billion) for the five months from January to May this year.
At his rate, he said, bilateral trade between the two countries could hit the US$100 billion mark or RM300 billion this year, making China Malaysia’s biggest trade partner for the past four consecutive years and Malaysia China’s biggest trade partner among Asean nations. In addition, there has been an upsurge in two-way investment in recent years, with the total amounting to over US$7 billion or RM21 billion now.
He hoped entrepreneurs of the two countries would take full advantage of the incentives and preferential treatments available now to go into joint-ventures and to take the already close and strong economic and trade relationship between China and Malaysia to a new height. He described the timing was most ideal now as bilateral relationship was at its best.
The Governor of Guangxi Zhuang Autonomous Region H.E. Chen Wu said that the 10th China-Asean Expo would be held in Nanning in September and he extended an invitation to all Malaysian industrial and business leaders to participate in the trade show. Investment and networking seminars will be held in conjunction with the expo for participants to network and explore business potentials.
Source: China Press.
Translated by Hoo Ban Khee.