Business groups hope for more green investments

PETALING JAYA: As Malaysia and China celebrate the 50th anniversary of their diplomatic relations, business groups are urging for increased cooperation with Chinese companies to expand business opportunities in the ever-evolving market landscape.

Malaysia-China Chamber of Commerce (MCCC) president Loo Kok Seong (pic) said Malaysia should attract more investments in new energy and green technology to facilitate technology transfer for the benefit of Malaysian businesses.

He said they do not only welcome Chinese investments but also hope for projects that could drive high-end technology transfer, particularly in areas such as cars and green technology.

“This would enhance employees’ skills and accelerate the development of Malaysian companies, creating a win-win situation for both countries,” he said.

In view of the “meaningful” 50th anniversary of Malaysia-China diplomatic relations, Loo voiced hope that companies from both countries could interact more frequently.

“Chinese companies that have invested in Malaysia before are encouraged to increase their investments in our country,” he added.

He believed that the anniversary of Malaysia-China diplomatic relations this year would lead to more business and travel visits.

“MCCC expects to lead local ethnic businesses to Chengdu, China, to explore cooperation opportunities,” he said.

In fact, Loo said that an entrepreneurial conference was held in Hainan, China, in January, for the purpose of discussing cooperation with the China Council for the Promotion of International Trade.

“This reflects the Chamber’s active effort to promote trade between the two countries.

“Malaysia is multilingual and multicultural, offering unlimited possibilities for Chinese investments here.

“We are not only calling on Chinese businesses but also encouraging businesses (with owners) of all ethnicities to engage in exchanges.

“Therefore, we insist on bilingualism in any investment promotion activities,” he added.

He said the mutual visa exemption policy between the two governments would allow companies from both countries to organise visits to explore business opportunities.

SME Association of Malaysia president Ding Hong Sing said that SMEs should enhance their cooperation with Chinese companies to expand their businesses.

“Chinese SMEs can boost production and technology through their cooperation with Malaysian SMEs, thus helping local SMEs expand their businesses in China.

He said Chinese SMEs can collaborate with Malaysian SMEs to produce processed food, which could then be imported to China.

“Malaysian SMEs can use the funds to expand machinery and technology in processing plants.

“Eventually, their own brands can be recommended in China to enter the local market.”

He pointed out that in the past year, many Chinese SMEs had chosen to invest in South-East Asian countries, with Malaysia being their top choice.

Besides the ease in communication, he said they found the business environment and conditions here to be friendly.