DESPITE the uncertainty over major Chinese investment projects like the East Coast Railway Link, Chinese investors still want to invest in Malaysia, said the Malaysia-China Chamber of Commerce (MCCC).

Its president Tan Yew Sing said the peaceful transition of power has proved to be a magnet for businessmen from China, who want a politically stable country and transparent policies when doing business.

They just want the new Pakatan Harapan government to curb corruption, increase efficiency and remove challenges.

He noted that Malaysia had a huge plus to the average China businessman.

“Malaysia may be multiracial but it has a vibrant ethnic Chinese business community which is attractive to them,” Tan told The Malaysian Insight.

Tan said the ECRL is not the only Chinese investment in Malaysia and people should not think Chinese investments will be directly affected by a review of the mega project.

“So I don’t think we should panic to say because of the ECRL project review, the Malaysia-China relationship is affected and investments from that country has stopped,” he said.

He said MCCC has spent a long time researching what Chinese investors are looking for when it comes to investing in Malaysia.

“Now the China investors are waiting for the complete cabinet list. They want to at least know who is the new trade minister.

“They want to know if the new minister has any new business policies,” Tan said, confident that investments will continue to flow in.

Tan said if Putrajaya’s policies are business-friendly, Chinese SMEs will come in and invest in projects that have high returns and low risk.

Although Chinese investors still choose to invest in Malaysia, Tan said it doesn’t mean that other Chinese projects in Malaysia are not going to be affected.

He said there were some tourism-linked projects like the Malacca Gateway project, which may be affected due to other issues.

On September 1, 2016, the project’s master developer, KAJ Development Sdn Bhd, signed a memorandum of agreement with China’s state-owned Powerchina International Group Ltd to develop the Malacca Gateway mixed development on the Straits of Malacca.

The project comprises three man-made islands and one natural island.

To be completed in 2025, the development is expected to attract some 2.5 million visitors annually and create 40,000 to 45,000 jobs.

The islands would feature among others, an international cruise passenger terminal, a commercial city, a liquid bulk terminal, and a maritime industrial park.

Tan said this was a private initiative.

“So Malacca tourism still needs to be studied more as investments there is about travel,” he said.

He said, generally, Putrajaya focuses on investments towards developing technology in Malaysia, agriculture manufacturing, talent training and tourism. – June 30, 2018.