Malaysian firms, chamber explore trade opportunities in Labuan

LABUAN: Local authority Labuan Corporation ( LC) yesterday hosted meetings for a business chamber and a Malaysian trade delegation comprising representatives of companies specialised in tourism, information technology, construction and financial services.

The meetings reviewed ways of boosting trade cooperation between both Chinese business owners and Malaysian counterparts as well as local investors, the available investment opportunities, and the potential of establishing trade alliances.

LC chairman Datuk Seri Amir Hussien told members of the Malaysia China Industrial and Commerce Association ( MCICA) that Malaysia has been an essential trade partner to China for decades.

“Labuan is embracing tourism to accelerate its slowing down economy, and we hope the MCICA can play its part in establishing business ties and promoting Labuan as a potential investment destination to China’s investors,” he said.

He said Labuan, with new tourism products on the cards, is interested to enhance relationships between Chinese and local businesses, strengthening cooperation in trade, investment, technology, services and other economic fields.

Amir said local investors are eager to explore the investment opportunities available in Labuan, noting the multitude of international companies operating in Labuan in the oil and gas and financial services sectors.

MCICA president Lu Fang said Chinese investors are keen to conclude partnerships with Labuan companies to implement joint projects that serve both countries’ economies and boost their trade exchange.

The group of 17 local investors from multinational companies were briefed on the Labuan Development Blueprint 2030 and the financial services sector. — Bernama