China Still the Biggest Investor in Malaysia’s Manufacturing Sector
China continues to be the biggest foreign investor in Malaysia in the manufacturing sector. China retained this ranking for the last four years since 2016.
Strong Bilateral Trade Between China and Malaysia
The bilateral trade between China and Malaysia amounts to US$80.06 billion. This was from January to August 2020, contributing to China’s status as the biggest foreign investor in Malaysia. China currently has 32 foreign direct investments (FDIs) in Malaysia. The total worth of these investments is US$452.43 million as of 2020 and was approved within the first six months of this year. In 2019, Malaysia approved 79 FDIs worth US$3.74 billion from China.
A Decade of Excellence in Malaysia-China Cooperation
These figures were highlighted at the 10th Malaysia-China Entrepreneurs Conference (MCEC) 2020. With the conference themed “A Decade of Excellence in Malaysia-China Cooperation, it strives to encourage cooperation and increase the economic and trade exchanges between both countries. It was jointly hosted by Malaysia-China Chamber of Commerce (MCCC) and the Department of Commerce of Fujian Province
A Supportive Friendship During Difficult Times
China and Malaysia continue to retain a strong and supportive friendship despite COVID-19. This strong bilateral trade has helped both countries to overcome the challenges of this year brought by the impact of the pandemic.
Moving forward, both countries hope to continue their collaboration in several sectors, such as innovative economy, big data, modern agriculture and industrial innovation.