Deputy Investment, Trade, and Industry Minister Liew Chin Tong is confident that Chinese investors sees Malaysia as a viable production site because of its geopolitical location close to the rest of the supply chain catering to markets in the West. — Bernama file picKUALA LUMPUR, Oct 10 — Malaysia is optimistic about its investment prospects from China despite the latter’s seeming current economic slowdown.
Deputy Investment, Trade, and Industry Minister Liew Chin Tong said this is because China’s slowdown was only affecting the sectors related to real estate, the“If you look at anything else that has something to do with consumer goods, something to do particularly with electric vehicles, or other parts of E&E and ecosystem, the numbers are doing very well,” he was quoted as saying at the Hong Kong-Asean Summit 2023 yesterday.
“Some of these firms which are producing in China are moving to South-east Asia because of costs... and also because of geopolitical shifts,” he was quoted as saying by the Hong Kong daily. Liew said Asean as a whole and countries like Malaysia which adopt a non-aligned stance can use this advantage to grow their economies amid the trade tussle between China and the US for the next 10 to 15 years.
“And I think we will have to position Malaysia as... an industrialised nation that is not in low-cost manufacturing, but playing a very important role and indispensable middle role in vertical integration within South-east Asia and also around the world,” he was quoted as saying.
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