‘Close ties draw Chinese investors’
Dr Huang: We want M’sia to be a friendly neighbour
KULAI: Malaysia’s friendship with China is one of the key factors that investors from that country take into account when they consider expanding their businesses here, said the Chinese envoy.
China’s Ambassador to Malaysia Dr Huang Huikang said that aside from the amicable ties, Chinese companies also looked for a business-friendly environment, as well as effective federal and state governments.
“We want Malaysia to be a friendly neighbour, as well as a trustworthy friend and partner of China. Chinese investors are most interested in political stability and a peaceful society,” he said.
Dr Huang was speaking to reporters at D&Y Textile (M) Sdn Bhd in Sedenak Industrial Park where he was concluding a two-week tour of Chinese investments in Peninsular Malaysia.
He went to 12 sites in six states and Kuala Lumpur, covering a wide range of industries that included glass and steel manufacturing, fisheries, power generation and education.
Among these were the RM5.6bil Alliance Steel (M) Sdn Bhd at the Malaysia-China Kuantan Industrial Park; US$66.3mil (RM296mil) acquisition of the Shell Refining Company in Negri Sembilan; and US$2bil (RM8.87bil) natural gas power plant operated by Edra Global Energy Sdn Bhd in Malacca.
All the projects were joint ventures with local partners, he said, adding that they created tens of thousands of jobs and would contribute hundreds of billions of ringgit to the Malaysian economy.
Dr Huang also said the Chinese firms rejected the baseless attacks by some Malaysians on their investments, and he pointed out that the projects would strengthen the ringgit while improving the standards of the industries.
He said a shortcoming commonly faced by the investors was difficulty in bringing in skilled workers from China.
“While the Chinese companies hire as many local employees as possible, they hope the Malaysian Government will make it more convenient for them to bring in workers with special skills,” he said.
Another concern that has to be addressed was the effectiveness of authorities and government departments, for the speedy completion of the projects, he said.
During Dr Huang’s visit to Forest City in the Iskandar Specific Economic Zone earlier, the developer said that half of Country Garden Holdings’ sales galleries in China have reopened since Monday, after marketing materials and strategies were updated to target global buyers.
It was reported last week that the sales galleries were shut following a crackdown on capital outflows that barred people in China from converting yuan into other currencies to invest in offshore property.
Refuting the report, Country Garden Pacificview Sdn Bhd chief strategy officer Dr Yu Runze said Forest City was never intended as a “Chinatown or city for Malaysian Chinese”.
“This is a global city,” he said. The joint venture partners of Forest City, Country Garden Holdings and Esplanada Danga 88 Sdn Bhd have invested a total of RM4.5bil in the 20sq km development since March 2015.