Time to deliver

The deals have been sealed and the Malaysian business sector is energised by the 28 business and government MoUs signed with China. The challenge now is to deliver on these projects with a win-win working relationship between the Chinese and local parties

BARELY after Prime Minister Datuk Seri Najib Tun Razak ended his four-day official visit to China on Friday, The Star was told by an investment adviser that some businessmen in China could not wait to speed up their investment decisions in Malaysia.

Such is the immense impact the Malaysian leader has created on the business community of the Middle Kingdom during his Nov 1-4 official visit.

Significantly, Najib’s visit has not only elevated Malaysia-China relations to another new high but also sent the strong message that Kuala Lumpur welcomes Chinese investments.

Chinese nationals witnessed the warm hospitality extended by their top leaders President Xi Jinping and Premier Li Keqiang to Najib, who has been called a “close, reliable and trusted” friend and neighbour. Hence, they feel comfortable investing in Malaysia.

The signing of 14 MoUs with a total value of RM144bil witnessed by Najib before a 400-strong business luncheon on Nov 1 stands testimony.

And the fact that Jack Ma of Alibaba Group has agreed to advise the Government on our digital economy and China’s richest businessman Wang Jianglin wants to invest in Malaysia speak volumes.

From now on, investments from China in various fields – notably in infrastructure, manufacturing, tourism, services and e-economy linked activities – are likely to soar if Malaysia acts rapidly and professionally. This will spur more economic activities and create more jobs.

As foreign direct investments from traditional sources have

If we don’t capitalise on our strong ties and seize opportunities, we will miss the boat and be left behind.

shown signs of slowing fast amid global economic uncertainty, new Chinese investments are timely to fill the void.

Hence they should be welcomed. The PM has stated that this is economic reality.

Some quarters have, however, expressed fear that Malaysia may be over reliant on China economically while others oppose for reasons best known to them.

China, the world’s second largest economy, is rising fast in many areas and is displacing the West as a global centre of IT and innovations.

There are abundant opportunities for our businessmen in Xi’s Belt and Road initiative.

If we don’t capitalise on our strong ties and seize opportunities, we will miss the boat and be left behind.

If we look around, almost the whole world is wooing Chinese investments and want to engage with China – including the Philippines which used to be hostile to China. Hence, why should we hesitate? Indeed, why should we?

PETALING JAYA: The mega deals have been signed with China. Malaysia must deliver and Malaysian firms say they are ready to hit the ground running.

Associated Chinese Chambers of Commerce and Industry of Malaysia (Acccim) secretary-general Datuk Low Kian Chuan said their members were already competing for businesses globally to survive.

“There is no comfort zone. It is now up to local businesses to make full use of opportunities by adapting to new technologies and ways of doing business,” he said when interviewed.

Local small and medium enterprises (SMEs), he said, also stood to gain from the infrastructure projects announced.

Prime Minister Datuk Seri Najib Tun Razak’s third official trip to China has garnered several extraordinary achievements, including the signing of 14 business-to-business memorandums of understanding worth RM143bil, 35 more flights to China for Malaysia Airlines and sealing the deal for the RM55bil East Coast Rail Line (ECRL) project.

Also significant is the appointment of global business icon Jack Ma of Alibaba, as adviser for Malaysia’s digital economy.

Low, from Terengganu, welcomed the ECRL initiative.

“China had a proven track record to do it and do it fast,” he said.

Low, however, wanted the Government to ensure more local procurement in the projects.

He said Malaysia must learn from previous infrastructure deals with the South Koreans and Japanese – where the projects mostly used materials and technologies from these countries.

“We must negotiate to ensure Malaysians gain fully from the new deals,” said Low, who pointed out details on most of the agreements and memorandums signed last week have yet to be finalised.

In Kuantan, Datuk Andy Chiew, Pahang’s president of the Malaysia-China Chamber of Commerce (MCCC) also said the ECRL project was the most significant development for the east coast states.

“We have waited for this railway for a long time and it is finally being delivered. The MCCC’s role in this is to serve as a bridge by informing our members of the available opportunities and contracts.

“However, businessmen in Pahang must also be ready to face investors from China.

“It is not only the giant companies that will enter Malaysia but the middle and lower-tier ones as well,” he said here yesterday.

Chiew said instead of challenging the foreign investors, it would be more ideal to work together with them.

“They are strong and loaded with money. It is not easy to compete with them.

“But this is our home ground and we have the advantage. We have the know-how and expertise. If we can match with their supply and demand, then it will be a win-win situation,” he said.

Chiew said what the Prime Minister did was right, as the people needed the investments at this time.

“I urge the public not to politicise this move. The Prime Minister has brought new hope for the east coast, as there will definitely be development along the railway,” he said.

Chiew also said that with these developments, it was hoped that direct flights to and from Nanning, Guangxi would be made available in Kuantan, as many investors at the Malaysia-China Kuantan Industrial Park were from the city.

“It can help the tourism sector as well, because Kuantan will serve as a centre for visitors to head on to other destinations like Pulau Redang, Genting Highlands and Sungai Lembing.

“We hope the Government can ease travel conditions for visitors from China because this will generate income for the country,” he said.

In Kuala Lumpur, Malaysian Associated Indian Chambers of Commerce and Industry president Tan Sri K.K. Eswaran said the investment and projects with China should be viewed as long-term opportunities for all Malaysians.

Besides growth and wealth for companies, he said, there would be more job opportunities.

But he said local companies should not expect to get projects if they are not qualified.

“Don’t expect projects to be awarded through direct negotiations,” he said.

Malay Chamber of Commerce (Perak) chairman Datuk Sabri Ahmad Tah said they welcomed the investment from China and were ready to participate.

“Our members involved in constructions and supply are internationally certified,” he said.

Ahmad said there were firms in Perak that supplied to international companies based there.

“The investment will boost the local economy and we want a share in it,” he said.