The Malaysian government is in advanced negotiations with a significant Chinese institution to establish a bilateral foreign investment promotion mechanism, announced Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.
The initiative aims to solidify a cooperative agreement focused on enhancing investment promotion, and fostering boosted investment flows between the two countries. It seeks to encourage Chinese companies to explore opportunities in Malaysia while facilitating Malaysian enterprises to expand into China.
Tengku Zafrul emphasised the growing interest of Chinese corporations in Malaysia, citing the nation’s strategic location and conducive business environment as key factors driving this trend.
“This potential partnership is targeted at fostering investments in high-value sectors, meticulously chosen to reflect the strategic priorities of both nations, thereby promising to fortify economic ties and promote mutual growth,” said Tengku Zafrul.
The minister made these remarks during the annual announcement of Malaysia’s investment performance across manufacturing, services, and primary sectors for 2023.
Highlighting the importance of high-value sectors in job creation, Tengku Zafrul noted that industries such as electrical and electronic (E&E), machinery and equipment (M&E), non-metallic mineral, fabricated metal, and chemicals were significant contributors to managerial, technical, and supervisory (MTS) employment.
Last year, over 30,000 MTS jobs were created, with Malaysians accounting for the majority of these roles. The minister emphasised the potential growth of Malaysia’s E&E industry, driven by increasing domestic and regional demand, particularly in areas such as electric vehicles (EVs), renewable energy, aerospace, and the digital economy.
“These developments will enhance Malaysia’s export competitiveness and provide higher-paying skilled jobs for our people,” he concluded.
