ASEAN Business Advisory Council (ASEAN-BAC) Malaysia held its Consultation Meeting on 17 September 2021, with the China-ASEAN Business Council (CABC), The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Malaysia-China Friendship Association (PPMC) to discuss Malaysia’s efforts in attracting foreign direct investment (FDI) from China and its business communities. The discussion was moderated by ASEAN-BAC Malaysia Council Member, Tan Sri Yong Poh Kon, hosted by Jukhee Hong, Executive Director of CARI ASAEN Research and Advocacy.

Tan Sri Dato’ Dr. Munir Majid, the Chairman of ASEAN-BAC Malaysia remarked that Malaysia should not only look to the west alone for cutting edge technologies but also to others closer to home such as China. He also proposed for Malaysia to leverage on China’s cutting edge technologies to build its sustainable economy, especially in the areas of renewable energy and electric vehicles.

Tan Sri Yong Poh Kon added that ASEAN-BAC is also keen to elevate its engagement with China’s business community to gather ideas and policy recommendations that it
can then share with ASEAN Economic Ministers (AEM) during the ASEAN-BAC’s biannual meetings with them.

Mr. Raja Singham, fellow ASEAN-BAC Malaysia Council Member, for his part, stressed that greater engagement with China’s business associations was also needed since Chinese companies were not aware of the various trade, investment, and business incentives offered by the Malaysian government.

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