Malaysia-China trade relations growing steadily despite the pandemic

Asia Pacific Investment Bank (APIB) urged Chinese enterprises to make full use of the favourable trade policies and tax incentives by the Malaysian government and invest in Malaysia in expanding their international business venture.

In a statement on Friday, the APIB Chief Executive Officer Chris Wang said that China has always been the main source of foreign direct investment to Malaysia.

“As a Chinese-funded offshore investment bank, we strongly encourage China enterprises to invest in Malaysia for a win-win outcome. For 11 consecutive years, China has been Malaysia’s largest trade partner and there is further potential in terms of economic and trade collaborations,” said Chris Wang.

Despite facing an unprecedented pandemic crisis this year, the trade volume between the two countries has recorded USD 103.93 billion from January to October 2020.

The trade figure reflects the strong bilateral relationship between Malaysia and China, both in trade and diplomatic ties. Both countries remained closely in touch during the pandemic.

Chris Wang further noted that the Economic Stimulus Package introduced by the Malaysian government during the pandemic has provided assistances for businesses.

“In order to attract and assist foreign enterprises to invest in the country, Malaysian government has put a lot of efforts in securing a business-friendly environment. By holding regular dialogue sessions, the government was able to formulate policies that met the expectation of foreign investors.

“At the same time, the Liberal Equity Policy is also a factor in attracting foreign investors. Since June 2003, foreign investors can hold 100% of the equity in all investment in new projects,” he said.

-NIAGATIMES

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