PUTRAJAYA continues to welcome foreign direct investment from any part of the world, including China, Economic Affairs Minister Mohamed Azmin Ali said today, as he praised the republic for being Malaysia’s top trading partner.

Imports from China reached RM116.9 billion as of August and Malaysia’s exports to the country recorded RM89.3 billion, he said.

“China is an economic giant with whom Malaysia has enjoyed enduring diplomatic relations since 1974, and has been our top trading partner since 2009,” he said at the launch of a joint report on the “Belt and Road Initiative (BRI) and Southeast Asia” by CIMB Asean Research Institute and LSE Ideas. 

The BRI, which has just passed its fifth-year milestone in September, involves more than 78 countries and 4.4 billion people. 

Azmin said BRI could help bridge the infrastructure and connectivity gap in Asean while opening doors for Malaysia to its Asean neighbours, as well as the rest of the world. 

Putrajaya welcomes foreign direct investments (FDI) from any part of the world, including China, he said.

“But what is the definition of FDI coming to Malaysia? We want them to bring capital. We want them to create job opportunities in Malaysia. 

“So, we create value to the investments coming from China and all parts of the world,” he said. 

Azmin added that the government is aware that the current trade war between the United States and China would bring about global economic repercussions. 

“Nevertheless, even as a smallish economy, Malaysia is strategically located in the Asean region and is well poised to exploit the various trade opportunities that may ensue from this current conflict. 

“In this regard, we will have much to gain from the Belt and Road Initiative and I would urge businesses and foreign investors to see Malaysia as a land of greater opportunities.”

Azmin’s remarks come as Putrajaya and Beijing work to smoothen ties following the Pakatan Harapan government’s cancellation of several mega-infrastructure projects by Chinese companies. – October 30, 2018.