INVEST KL’S ‘CSC’ COLLABORATES WITH CHINESE BUSINESS CHAMBERS TO EXCLUSIVELY STREAMLINE & STRENGTHEN HIGH VALUE-ADDED FOREIGN DIRECT INVESTMENTS BETWEEN MALAYSIA & CHINA

Published by Lavinesh @ 22/01/2020

Witnesses: YB Tuan Lim Guan Eng, Minister of Finance Malaysia, YB Datuk Darell Leiking, Minister of International Trade and Industry, H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia, YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL; Signatories: Yang Berusaha Encik Muhammad Azmi Zulkifli, CEO of InvestKL, Yang Berusaha Mr. Teng Kok Liang, CEO of Malaysia-China Business Council (MCBC), YBhg Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce (MCCC), YBhg Tan Sri Datuk Ter Leong Yap, President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Yang Berusaha Mr. Zhang Min, President of China Enterprises Chamber of Commerce in Malaysia (CECCM)

InvestKL ‘China Special Channel’ (CSC) signs a Memorandum of Agreement with Chinese Business Chambers to promote and strengthen the collaboration between all parties. InvestKL CSC will act as a single window for all investment opportunities from China into Malaysia.

The CSC was first announced by Minister of Finance, YB Lim Guan Eng during the tabling of Budget 2020 last October, as the protracted trade war between U.S. and China had created a unique opportunity for Malaysia to be the preferred destination for high value-added foreign direct investments (FDI).

Via CSC, InvestKL will attract Chinese companies and global multinational corporations that are exploring in setting up new businesses and regional hubs outside of China and relocate their smart manufacturing and high value services.

YB Tuan Lim Guan Eng, Minister of Finance Malaysia

Minister of Finance Lim Huan Eng said, “China is becoming a tech and innovation powerhouse in its own right. As such it is important to draw high tech, high value, high impact FDI from Chinese companies that will eventually help upskill our local Malaysian talent and improve productivity and growth. Many innovative high-tech Chinese manufacturers can leverage on Malaysia’s value proposition, not just in terms of smart manufacturing mix, but also due to Malaysia’s cost-competitiveness compared to other countries.”

YB Datuk Darell Leiking, Minister of International Trade and Industry

Minister of International Trade and Industry Datuk Darell Leiking said, “CSC’s focus is synergistic with the vision of the smart manufacturing sector as outlined in the Industry4WRD National Policy on Industry 4.0, which was launched by the Prime Minister in November 2018. CSC also plays a pivotal role in bringing in quality investors to drive Malaysia’s ecosystems, creating high skilled jobs, helping SMEs pivot in the smart manufacturing value chain and increase their capabilities to thrive with Industry 4.0. This will in turn result in a more robust and sustainable economic growth for Malaysia.”

YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL

InvestKL’s Chairman, Datuk Seri Michael Yam said “China’s investment into Malaysia should reflect our prosperous, long-standing trading relationship. CSC can be an effective bridge to not just draw in new investments, but also streamline the engagement process to effectively match Chinese investors with production sites, tax incentives and supporting talent pipeline.”

Witnesses: YB Tuan Lim Guan Eng, Minister of Finance Malaysia, YB Datuk Darell Leiking, Minister of International Trade and Industry, H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia, YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL; Signatories: Yang Berusaha Encik Muhammad Azmi Zulkifli, CEO of InvestKL, Yang Berusaha Mr. Teng Kok Liang, CEO of Malaysia-China Business Council (MCBC), YBhg Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce (MCCC), YBhg Tan Sri Datuk Ter Leong Yap, President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Yang Berusaha Mr. Zhang Min, President of China Enterprises Chamber of Commerce in Malaysia (CECCM)

As the lead agency of the CSC initiative, InvestKL will evaluate and channel investment opportunities via active complimentary collaboration with other relevant agencies including the Malaysia Investment Development Authority (MIDA), Malaysia Digital Economy Corporation (MDEC), as well as regional and state investment promotion agencies.

This is to ensure effective last-mile investment facilitation, based on investment criteria such as land, infrastructure and other ecosystem needs. In addition, InvestKL’s dedicated China team has been tasked to develop strategies and attract all high tech, high value and high impact investment opportunities. This focus is also in line with Malaysia’s priority in adopting Industry 4.0 to drive the local smart manufacturing and services sector.

Emphasis will be in attracting investors operating in key sectors including Consumer Technology, Smart Technology, Renewable Energy, Medical Technology, Medical Devices, Electrical and Electronics (E&E), Mechanical Engineering, Chemical and Aerospace.

Witnesses: YB Tuan Lim Guan Eng, Minister of Finance Malaysia, YB Datuk Darell Leiking, Minister of International Trade and Industry, H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia, YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL; Signatories: Yang Berusaha Encik Muhammad Azmi Zulkifli, CEO of InvestKL, Yang Berusaha Mr. Teng Kok Liang, CEO of Malaysia-China Business Council (MCBC), YBhg Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce (MCCC), YBhg Tan Sri Datuk Ter Leong Yap, President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Yang Berusaha Mr. Zhang Min, President of China Enterprises Chamber of Commerce in Malaysia (CECCM)

The focus regions include Beijing (Jing-Jin-Ji Area), Shanghai (Yangtze River Delta) and Shenzhen (Greater Bay Area). These regions are home to 70% of the China Fortune 500 companies, as well as innovative up-and-coming enterprises.

Witnesses: YB Tuan Lim Guan Eng, Minister of Finance Malaysia, YB Datuk Darell Leiking, Minister of International Trade and Industry, H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia, YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL; Signatories: Yang Berusaha Encik Muhammad Azmi Zulkifli, CEO of InvestKL, Yang Berusaha Mr. Teng Kok Liang, CEO of Malaysia-China Business Council (MCBC), YBhg Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce (MCCC), YBhg Tan Sri Datuk Ter Leong Yap, President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Yang Berusaha Mr. Zhang Min, President of China Enterprises Chamber of Commerce in Malaysia (CECCM)

InvestKL, represented by Chief Executive Officer, Muhammad Azmi bin Zulkifli, signed the Memroanda of Agreement (MoA) with four chambers of commerce and business councils:

  1. Malaysia-China Business Council (MCBC)
  2. China Enterprises Chamber of Commerce in Malaysia (CECCM)
  3. The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM)
  4. Malaysia-China Chamber of Commerce (MCCC)

Witnesses: YB Tuan Lim Guan Eng, Minister of Finance Malaysia, YB Datuk Darell Leiking, Minister of International Trade and Industry, H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia, YBhg Datuk Seri Michael Yam Kong Choy, Chairman of InvestKL; Signatories: Yang Berusaha Encik Muhammad Azmi Zulkifli, CEO of InvestKL, Yang Berusaha Mr. Teng Kok Liang, CEO of Malaysia-China Business Council (MCBC), YBhg Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce (MCCC), YBhg Tan Sri Datuk Ter Leong Yap, President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Yang Berusaha Mr. Zhang Min, President of China Enterprises Chamber of Commerce in Malaysia (CECCM)

These chambers and councils will collaborate with InvestKL to identify Chinese state-owned enterprises, private enterprises or MNC’s in the smart manufacturing or services sectors, who are exploring expansion beyond China.

The MoA signing ceremony was witnessed by the Minister of Finance, Lim Guan Eng; the Minister of International Trade and Industry, Datuk Darell Leiking; H.E. Bai Tian, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Malaysia; and Datuk Seri Michael Yam, Chairman of InvestKL.