Groups: Leave politics out of it
Malaysians urged to stop politicising investments from China
PETALING JAYA: Malaysians should not politicise Chinese investments in Malaysia or try to jeopardise the good relations between the two countries, say trade groups.
In a statement, the National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Associated Chinese Chambers of Commerce and Industry (ACCCIM) said they welcomed the investments.
“China is a global economic powerhouse and we should not only encourage but also be proud that Malaysia is a destination of choice for investments from China,” said NCCIM and ACCCIM president Tan Sri Ter Leong Yap in a statement yesterday.
He said China had been Malaysia’s largest trading partner for nine consecutive years, with bilateral trade between the two countries reaching RM290bil in 2017.
“In terms of foreign direct investment (FDI) stocks, China is the 11th largest foreign investor in Malaysia, investing RM14.6bil or a 2.6% share of FDI stocks by the end of 2017,” said Ter.
FDI stocks measure the total level of direct investment at a given point in time, usually the end of a quarter
or of a year.
“Not only is there not an overdependence on Chinese investments, there is actually a lot of room to grow,” said Ter, adding that exports of palm oil and rubber to China had also increased.
“China’s venture into Malaysia is not solely about trade and economic matters but it has also spent RM1.3bil to set up Xiamen University Malaysia,” he said.
The university is a non-profit organisation. Any surplus will be reinvested back into the university via infrastructure, research and scholarships.
“With the strong support of both governments, this joint effort in education underlines the commitment of long-term friendship between Malaysia and China.
“The data clearly indicate that Chinese investments have created jobs, improved the economy and enhanced human capital developments,” Ter said.
He said that ACCCIM was also bidding to host the 16th World Chinese Entrepreneurs Convention (WCEC) in Kuala Lumpur in 2021.
The WCEC is expected to attract over 5,000 Chinese entrepreneurs and corporate leaders from around the world.
“By hosting this prestigious event, Malaysia is expected to further benefit from increased FDIs, tourism and an enhanced international profile.
“For the long-term economic development of the country, ACCCIM believes that Malaysia should strengthen its cooperation and deepen its ties with China, be it in the public or private sectors, in order to achieve win-win situations,” he said.