Malaysian, Chinese entrepreneurs urged to strengthen cooperation for post-pandemic recovery

KUALA LUMPUR (XINHUA) – Entrepreneurs from Malaysia and China were urged yesterday to strengthen cooperation and to tap into the opportunities in the post-COVID-19 economic recovery and the continued opening up of China.

Malaysia’s Deputy Minister of International Trade and Industry Lim Ban Hong, in his speech to the virtually held 10th Malaysia-China Entrepreneur Conference, said the historic friendship between Malaysia and China was further elevated when both countries came to each other’s assistance during the fight against the COVID-19 outbreak. Among the efforts to facilitate recovery from the hit of COVID-19, the Malaysian government has unveiled a number of initiatives to further improve the country’s investment environment for foreign companies.

“Malaysia could be a gateway for Chinese entrepreneurs to tap into the Southeast Asian markets. The Malaysian government welcomes Chinese businesses and companies to prioritise Malaysia as an investment destination,” Lim said, pointing out that China has been Malaysia’s largest source of investment in manufacturing sectors for four consecutive years.

“I hope entrepreneurs of both countries could deepen cooperation in the digital economy, big data, high-tech, innovative economy, the industrial revolution, and agriculture modernisation,” he said.

“I believe the cooperation would further facilitate economic exchange between Malaysia and China and to bring fruitful results.”

In his speech at the forum, China’s former chief negotiator for entry into the World Trade Organization Long Yongtu urged China and Malaysia to strengthen cooperation in areas including COVID-19 response, manufacturing, digital economy, and the Belt and Road Initiative.

Long also urged Malaysian companies to seize new opportunities as China is now embarking on a ‘dual circulation’ development pattern in which the domestic economic cycle plays a leading role while the international economic cycle remains its extension and supplement, which will see growth in China’s demand for import and cooperation in the supply chain.

“I am very optimistic that foreign entrepreneurs, including those from Malaysia, could find new opportunities in China’s ‘dual circulation’ development pattern,” he said.