M’sia gateway to Asean, China for UK investors
KUALA LUMPUR: United Kingdom investors should look at Malaysia as a gateway to the Asean market and major economies in the world including China, HSBC Bank Malaysia Bhd said yesterday.
In a statement, chief executive officer Mukhtar Hussain said Malaysia, with its strategic location at the heart of Asean, offered numerous advantages such as unmatched connectivity, as well as pragmatic, prudent and business-friendly policies.
“With its strong historic ties, UK investors should leverage on Malaysia’s strategic location, either by setting up regional establishments to serve related companies in the region, or by using Malaysia as the launch pad to penetrate Asean, which is already the seventh largest economy in the world,” he said.
HSBC Bank Malaysia is the local subsidiary of British-based multinational banking and financial services company, HSBC Group.
Malaysia is the UK’s second largest trading partner in the Asean region, with total trade between the two countries amounting to RM16.07 billion in 2015.
Foreign direct investments from the UK to Malaysia stood at 3.4 billion British pounds at the end of 2015 with half of the investments being in the chemical and petroleum products industries.
Mukhtar said working in partnership with UK firms would represent particular opportunities for Malaysian companies aiming to move into higher-value products.
“The UK’s strengths in science and technology, for example, support innovative businesses in fast-growing sectors such as software, technology and materials,” he said.
The statement was released in conjunction with “Choose Malaysia” Campaign, a collaboration between the UK and Malaysia’s private sectors to showcase Malaysia’s strengths and diverse sectors through segment-specific tailored events.
The three-day campaign which began on Sept 24 was aimed at drawing investment to the country and the region. — Bernama