Malaysia is eyeing more investments from China through a special trade program. The country will streamline Chinese investments via China Special Channel (CSC).
A government investment promotion agency InvestKL targets USD 2.46bn (Rm 10bn) worth of investments for the next two years. In addition, the targets for the investment in Kuala Lumpur are Chinese investors and businesses.
“China’s investments into Malaysia should reflect our prosperous, long-standing trading relationship. CSC can be an effective bridge to not just draw in new investments, but also streamline the engagement process to effectively match Chinese investors with production sites, tax incentives, and supporting talent pipeline,” said Michael Yam, the chairman of InvestKL.
“Via CSC, InvestKL targets to bring in Rm 10bn in new investments from China in the next two years. Our China team has been tasked to develop strategies and attract high-tech, high-value and high-impact FDI,” he added.
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CSC, Malaysia-China Investment Booster
The CSC program will function as a singular gateway to attract and monitor investments from China to Malaysia. Accordingly, the program aims to attract Chinese companies to set up new businesses and regional hubs outside China, as well as to relocate their smart manufacturing and high value services.
The program includes various sectors of businesses. This includes consumer technology, smart technology, renewable energy, medical technology, medical devices, electrical and electronics (E&E), mechanical engineering, chemical and aerospace.
“The CSC will also be in a position to understand the needs of the investors and the nature of the investments, to be able to help them develop their entry strategies and navigate the complexities of doing business in a new country,” Finance Minister Lim Guan En said.
Minister of International Trade and Industry Darell Leiking also openly welcomes Chinese companies to establish new businesses in the country. Also, he will greatly value the transfer of knowledge, skills, and innovation to cultivate more employment for Malaysians.
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