Labuan IBFC to attract more investments from China

LABUAN: The Labuan International Business and Financial Centre (Labuan IBFC) hopes to attract more investments from China under the One Belt, One Road (OBOR) initiative.

Labuan IBFC will be taking part in the OBOR roadshows to be held in Beijing, Shanghai and Tianjin from Oct 30 to Nov 5 to promote its position as a mid-shore network centre.

“We are excited about the OBOR initiative. The initiative creates great opportunities for Labuan IBFC to mediate regional investment and fund flows, providing the promise of growth to Greater Asia while realising Labuan IBFC’s and Malaysia’s full potential as a regional hub,” said Farah Jaafar-Crossby, director of Marketing Intelligence and Strategic Communications of Labuan IBFC Inc.

The island of Labuan, and Malaysia has historically been an essential port of call in the ancient silk road given its strategic location within the Asian region. Today, Labuan IBFC is globally well-regarded as a special business financial zone in Malaysia, and for many Chinese enterprises it is a hub for their international business dealings.

Farah added: “Labuan IBFC is no stranger to Chinese companies as it is home to more than 300 companies directly originating from China and the number of Chinese related entities is even higher. For example, the leasing arm of Ping An and China Aircraft Leasing Group Holdings Limited are domiciled in Labuan IBFC. There are also large Chinese state-owned banks such as Industrial and Commercial Bank of China Limited (ICBC) already operating in Labuan IBFC.”

“Our roadshow in China will be fairly comprehensive, covering events and high level business meetings deliberating on the various business structures and solutions available for Chinese entities in Labuan IBFC. We are also hosting a bespoke event in Shanghai and this complimentary event is catered specially to Chinese corporations and individuals to learn about Labuan IBFC as their international fund raising projects and investments,” Farah said.

Prior to the Masterclass, Labuan IBFC Inc will be in Beijing for the Private Banking and Family Office Summit and the China Offshore Summit in Shanghai. Additionally, the team will be in Tianjin for the Jing-JinJi International Insurance Forum 2017 that caters specifically for Chinese risk managers and practitioners.

Senior representatives from Labuan Financial Services Authority, Labuan IBFC Inc and Labuan-based intermediaries will also be available for meetings at the respective venues in China.