Chinese companies should consider Malaysia as regional hub, set up headquarters – Liew

HAINAN (China), Oct 17 – Chinese companies should consider Malaysia an ideal destination to set up regional headquarters, from which they can expand internationally through Malaysia, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

In his pre-recorded keynote address at the CGS Southeast Asia (SEA) Bilateral Investment Forum here, he said Malaysia’s strength lies in having a skilled and educated multilingual workforce, an internationally-recognised common law framework, comprehensive logistics network, and a stable society.

He hoped that more communication between the two nations would allow for a deeper and closer collaboration between Malaysia and China.

“In addition to traditional economic and trade cooperation, Malaysia and China should work together on new emerging industries, especially new energy vehicles and solar photovoltaic systems.

“We look forward to closer cooperation in technology development and its application to solve daily challenges,” he said.

In addition to Malaysia assuming the ASEAN Chairmanship next year, Liew said Chinese companies should view Malaysia as a gateway to the rest of Asia.

He noted the ten ASEAN countries currently have a population of 670 million, which is expected to grow to over 800 million in the next two decades.

“When China joined the World Trade Organisation in 2001, about 100 million people were considered middle class.

“Today, by any measure, China has at least 400 million people living a middle-class lifestyle, making it a huge global market,” he said.

According to Liew, if Southeast Asia can develop a middle-class population as large as China’s current 400 million in the next 15 to 20 years, the region will also emerge as a very large consumer market.

“There are many areas where China and Southeast Asia can collaborate. We hope that when Malaysia assumes the ASEAN Chairmanship next year, we can promote more cooperation, especially in new industries such as new energy vehicles and its standard,” he said. 

Meanwhile, the CGS SEA Bilateral Investment Forum 2024, from Oct 16-17, 2024, brings together 300 leading policymakers, industry experts, and business leaders to explore emerging macroeconomic trends and bilateral investment opportunities between China and Southeast Asia.  

The forum will also explore high-growth sectors such as semiconductors, new energy, healthcare, private equity, hospitality, and the digital economy, featuring expert panellists from China and Southeast Asia.

China Galaxy Securities Co Ltd (CGS) chairman Wang Sheng said the focus on diversified and resilient supply chains has heightened the importance of the China-ASEAN corridor, creating global growth opportunities for ambitious businesses.