Nanning (China): Malaysian companies and investors must be ready to compete for investment opportunities from or in China.
Malaysian Consul General in Nanning Ahmad Fadil Ismail said that given China’s vast and open domestic market, Malaysia can open up many new markets based on its advantages in agricultural production.
As China reopened its borders in January after nearly three years of closure due to the COVID-19 pandemic, Malaysian businesses seize the resulting opportunity to develop new markets within the republic. He said it needs to be done.
“China has always been Malaysia’s biggest trading partner.
“This is just competition within ASEAN, competition with Europe and other developed and developing countries has not yet been considered,” he said recently on Bernama TV in Nanning.
Ahmad Fadil said ASEAN’s position, especially Malaysia’s position in the changing global geopolitical situation should be seen as an opportunity to attract investment.
He said China and Malaysia have maintained very close ties despite changes in leadership.
“We must capitalize on this close bilateral relationship. China is open to foreign investment. The question is whether Malaysian business is willing to make the same commitment. ” he said.
Ahmad Fadil said agricultural products are one of Malaysia’s major exports to China, with products such as palm oil, durian and edible bird’s nests being warmly received in the Chinese market.
As such, he expressed hope that the Malaysian business community will take advantage of the business opportunities of the 20th China-ASEAN Expo in September this year.
On attracting investment from China, Ahmad Fadil said electric vehicles, artificial intelligence and green technology are among the new areas to consider.
In 2022, Malaysia’s trade with China will reach 17.1% of its total global trade of RM2.8 trillion.
Total trade between the two countries last year reached RM487.13 billion, up 15.6% compared to 2021.Bernama
