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 the 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.
Minister of Finance Lim Guan 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,” Lim adds.
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.
“With the ongoing U.S.-China trade tensions, large Chinese
companies are seeking new locations in Southeast Asia to expand their global
businesses. Malaysia not only offers an ideal location for these companies plus
a vibrant ecosystem with robust infrastructure, we also have the right
multicultural highly-skilled talent that these Chinese companies are attracted
to” Yam said.
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, Aerospace
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.
InvestKL, represented by Chief Executive Officer, Muhammad Azmi bin Zulkifli,
signed the Memoranda 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)
These chambers and councils will collaborate with InvestKL to identify
Chinese state-owned enterprises, private enterprises or MNCs 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.
About InvestKL
InvestKL
is an investment promotion agency under Ministry of International Trade and
Industry, tasked to attract large global multinationals with high-value
activities to establish their regional business hub in Greater Kuala Lumpur,
and strategically grow their business in Asia.
Greater
Kuala Lumpur is Malaysia’s primary facilitator for trade and has many
advantages such as pro-business Government, investor-friendly business
environment, great quality of life, robust talent pool, well-developed
infrastructure and connectivity.
Renowned for its world-class infrastructure, Greater Kuala Lumpur has
become the preferred location for investors in sectors such as consumer
technology, smart technology, healthcare, industrial automation, engineering
services, energy & renewables and industry 4.0 activities.
In Budget
2020 – the Government’s first thrust is Driving Economic Growth in The New
Economy and Digital Era with the Strategy ‘Making Malaysia the Preferred
Destination for Investment’. In line
with this strategy, ‘China Special Channel’ (CSC) to attract investments from
China was established and led by InvestKL.
CSC will
function as the Single Window focusing on all investment opportunities from
China and focus on Chinese companies and Global MNCs in China exploring to set
up new businesses, relocating manufacturing/production base and expanding
beyond China (ASEAN, Asia or Global).
The 3-focus regions include – The Greater Bay, Beijing and Shanghai. Key focus sectors include : Consumer
Technology, Smart Technology, Renewable Energy, Medical Technology, Medical
Devices, Electrical & Electronics (E&E), Mechanical Engineering, Chemical
and Aerospace.
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