China seeks help for investors


China has called for the setting-up of a network of incubators for its
entrepreneurs and investors interested in investing in Malaysia, said
MCA president Datuk Seri Ong Tee Keat.

He said Chinese Commerce
Vice-Minister Chen Jian made the request after expressing keen interest
to further invest in Malaysia as well as confidence in Malaysia’s
economic fundamentals.

“China’s positive response to our
proposals for more cooperation and exchanges in various areas are very
encouraging,” he told reporters after he and Chen met for more than an
hour yesterday.

Ong is leading a political and trade delegation on a six-day visit to Beijing. The visit ends today.

Ong said: “China has raised constructive suggestions to further support our work to attract investments and funds to Malaysia.”

president Datuk Seri Ong Tee Keat (centre) posing with (from left) MCA
vice-president Tan Kok Hong, MCA secretary-general Datuk Wong Foon
Meng, Communist Party of China’s International Department Vice-Minister
Liu Hongcai, Malaysia’s ambassador to China Datuk Syed Norulzaman Syed
Kamarulzaman, Deputy Finance Minister Datuk Kong Cho Ha and MCA
vice-president Datuk Liow Tiong Lai at an appreciation dinner hosted by
Ong in Beijing Thursday night. Ong was leading a political and trade
delegation to Beijing in conjunction with 35 years of China-Malaysia
diplomatic relations.

He said that for instance a longer visa validity period could make it more convenient for Chinese investors.

“Malaysia can also identify the areas of investment projects and promote them to China,” he said.

Ong said total trade between the two countries reached US$53.8bil (RM194bil) last year, an increase of 15% from 2007.

Besides expressing confidence in Malaysia’s fundamentals, Ong said China also welcomed Malaysian investors to the mainland.

the proposal for Bank of China Kuala Lumpur to offer low interest loans
to Malaysian small- and medium-sized enterprises, Ong said he had
received a positive response and would follow up the matter keenly.

“We need the support from Bank Negara and we will move on from here to ensure the proposal is materialised,” he said.

On the halal hub cooperation between both sides, Ong said Chen suggested both should form a forum focused on halal hub development and cooperation.

Ong described the visit as fruitful.