KUALA LUMPUR, Aug. 28 (Xinhua) -- Malaysia aims to draw high technology investments from China to accelerate the adoption of new technologies domestically, Malaysian International Trade and Industry Deputy Minister Ong Kian Ming said on Wednesday.
Speaking at Smart Manufacturing Expo 2019 (SMEX 2019) here, Ong said this would help the country reach its goal of becoming a comprehensive total solutions provider for advanced technology in the region.
“There are many opportunities for more collaboration between Malaysian and Chinese companies. I would like to note here that China was our largest investors in terms of approved manufacturing projects for three consecutive years since 2016,” he said.
“Malaysia is now focusing on accelerating innovation and technology adoption, increasing export capacity and improving market efficiency. This will be aided by technology and knowledge transfers that occur through high-value foreign investments, including those from China,” he said.
Ong pointed to the approved participation of Chinese companies in Malaysian projects between January and March this year which included 4.41 billion ringgit (1.08 billion U.S. dollars) which were expected to create 3,769 jobs the metals, electronics and transportation sectors.
He added that as of December 2018, a total of 248 manufacturing projects with participation from China were implemented with investments amounting to 15.72 billion ringgit (4.23 billion U.S. dollars), creating 37,627 employment opportunities.
China Machinery Engineering Corporation (CMEC) International Exhibition Co. Ltd. executive deputy general manager Zhao Rui said Chinese manufacturers were keen to advance trade relations with companies based in the Association of Southeast Asian Nations (ASEAN).
“This is especially the case for innovative industries that are fueled by technological advancement and can reap benefits in the long term,” he said.
Those also present at the exhibition included Bai Tian, the Chinese ambassador to Malaysia and Jia Guoyong, Deputy Director of Trade Development of Bureau, Ministry of Commerce of the People’s Republic of China.
The three-day exhibition aims to build a platform for China-Malaysia trade collaboration, especially through the adoption of Industry 4.0 technologies and smart manufacturing processes. This will further enhance the productivity and efficiency of local industries.
