The 2019 Northern Malaysia Chinese Enterprises Investment Forum benefited over 150 foreign and local participants

PULAU PINANG, 21 June 2019 – Over 150 representatives from renowned enterprises from China and Malaysia attended the 2019 Northern Malaysia Chinese Enterprises Investment Forum, aimed at helping foreign and local enterprises in seizing enormous new business opportunities in the Northern region of Peninsular Malaysia.

Held in conjunction with the 45th anniversary of the establishment of diplomatic relations between China and Malaysia, the forum also provided valuable insights and analysis, opportunities and recommendation from industry experts on the BRI. The forum is co-organised by Deloitte Malaysia’s Chinese Services Group and China Enterprises Association in Northern Malaysia.

“As the trade and economic centre of the Northern region of Peninsular Malaysia, Penang has been a sister city with Xiamen for more than 20 years, followed by Hainan and Zhongshan. It has also established a friendly and cooperative relationship with Chengdu. I believe the Belt and Road Initiative (BRI) will provide new opportunities for Penang to realise its economic and industrial structural transformation. I hope more Chinese enterprises can take the advantage of the BRI and continue to invest in Penang by bringing professional and technical knowledge and further promoting economic development as well as contributing to bilateral relation of the two nations. At present, some of the investments made by Chinese enterprises have the effect of establishing supply chain in the Northern region of peninsular Malaysia and I believe more Chinese enterprises will continue to invest in Penang. The Penang State Government will actively cooperate with all parties to create a pro-business environment,” said YAB Chow Kon Yeow, Chief Minister of Penang State.

Enterprises play a key role in the BRI. Under the BRI initiative, there are more Chinese enterprises investing in Penang and other emerging areas in the Northern Region of Peninsular Malaysia.

“Based on current statistic, there are sixty (60) Chinese enterprises in the Northern region of Malaysia, with Penang having more than forty (40) Chinese enterprises.” said Lu Shiwei, Consul General of the Consulate of the People’s Republic of China in Penang.

“The recalibrated BRI which promotes greater transparency, inclusiveness and sustainability is set to spur the economy of the northern region of Peninsular Malaysia. Capitalising the ideal timing, its locational strategic advantage and warm bi-lateral relations of the two nations, Chinese investors and Malaysian enterprises are poised to join force in various sectors such as high-tech manufacturing, logistic and infrastructure construction to bring rapid development in the Northern region,” said Yee Wing Peng, Deloitte Malaysia Country Managing Partner and Deloitte Southeast Asia Chinese Services Group Leader.

Distinguished guest speakers at the forum included YAB Chow Kon Yeow, Chief Minister of Penang State; Lu Shiwei, Consul General of Consulate-General of the People's Republic of China in Penang; Liu Zhenhua, President of the Association of the Chinese Enterprises in Northern Malaysia; Dato' Seri Hong Yeam Wah, President of Penang Chinese Chamber of Commerce; Dato' Dr. Cheah See Kian, Chairman of the “Belt and Road” Research Center of Malaysia and Datuk Alvin Tay, Vice President of the Bank of China (Malaysia).

Also present as distinguished forum panelists were Jiang Zhengguang, General Manager of CRRC Rolling Stock Center (M) Sdn Bhd; SL Lee, General Manager of Jinko Solar Technology Sdn Bhd; Shi Chenye, President of XSD International Paper Sdn Bhd; and Chang Xin Quan, Zhonghua Southern Pharma Sdn Bhd; who shared their extensive insights of their highly successful investments in Malaysia and experience in overcoming challenges and seizing opportunities.

For more information on the services provided by Deloitte Malaysia, please visit www.deloitte.com/my or contact Yee Wing Peng, Deloitte Malaysia Country Managing Partner and Deloitte Southeast Asia Chinese Services Group Leader at wpyee@deloitte.com.

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