PETALING JAYA: Malaysian entrepreneurs should consider investing and trading in China’s Zhejiang province, said the Prime Minister’s Special Envoy to China Tan Sri Ong Ka Ting.
“Zhejiang has been tops in terms of GDP per capita for the last 21 years. The cumulative wealth creation there has resulted in a unique ‘Zhejiang culture’,” said Ong, who cited Wenzhou and Yiwu as trading and manufacturing centres well-known to entrepreneurs in South-East Asia.
According to Ong, Zhejiang was China’s fourth largest GDP province and had a thriving economy.
He was speaking at the China Zhejiang-Malaysia Investment and Trade Symposium 2015 here yesterday, where he met Zhejiang province party secretary Xia Baolong and delegates, including Chinese entrepreneurs and officials. In turn, Ong urged Chinese entrepreneurs to invest in Malaysia given the country’s favourable conditions such as competitive corporate tax rates, good ratings in World Bank reports and the high proportion of fluent English speakers.
He also praised China’s proposed Silk Road Economic Belt and the 21st Century Maritime Silk Road.
“The ‘One Belt One Road’ initiative is hinged on the principle of broad consultation, joint contribution and shared benefits,” he said.
Source: The Star, 22 April 2015