Value-added partnerships crucial to win China deal
PETALING JAYA: Malaysian businesses, especially listed and government linked companies, are being urged to build and strategise more value-added joint ventures with Chinese counterparts, towards doing well in the rising China market, as normal businesses are becoming unattractive there.
Malaysian Investment Development Authority (MIDA) chairman Datuk Abdul Majid Ahmad Khan said adopting appropriate strategies was also crucial to partnering the Chinese, given that most companies are state-owned enterprises and very big, even those that are private.
“We have to be aggressive in promoting our products and realise also that China is a very competitive market. So, we have to place our strength in terms of quality, packaging, and pricing, because everybody is there to capture this 400 million Chinese middle class (market),” he told reporters on the sidelines of the Malaysia-China Outlook Forum 2019 yesterday.
He was the speaker at session one, titled, Updates on China and Malaysia Economic Relations.
The forum was officiated by China’s Ambassador to Malaysia, Bai Tian. Abdul Majid said having value-added partnerships with Chinese companies would also help Malaysian entities expand their market, as well as opportunities to other third country markets, and this initiative is clearly an encouraged area under the Belt and Road Initiative.
“A great example is Proton’s plant in Pakistan, where it is a tripartite venture between Malaysia, China and Pakistan. We can duplicate this in many areas,” he added.
He said Malaysia’s targeted investments from Chinese companies embrace five sectors, namely value-added electrical and electronics (E&E) as the country is already strong in this segment, medical devices, aeronautical and aerospace, digital technology such as IT, IOT, artificial intelligence, as well as e-commerce. — Bernama KUALA LUMPUR: Being the most advanced Muslim market in Southeast Asia with over 20 million Muslims, Malaysia has become one of Taiwan’s most important halal target markets.
The long-standing friendly relations between Malaysia and Taiwan has provided considerable room for further cooperation in the halal sphere.
Recently held in Penang, the Taiwan Expo 2019 featured the best halal products from that country at the Taiwan Halal and Bubble Tea Pavilion.
As the Penang Government actively develops its halal industry, there are plenty of business opportunities between Taiwanese halal product manufacturers and Malaysian businesses waiting to be explored.
Taiwanese halal products are highly regarded for the highquality production and attractive packaging, and the products displayed at the expo included many halal food and beverage items, beauty and agricultural produce.
The main exhibitors at the halal pavilion include five of Taiwan’s most iconic halal products and bubble tea makers, namely Shih Chen Foods, Yilan Anyong LOHAS, FuFann Enterprise, Kuojer Enterprise and Yung Soon Lih Food Machine. — Bernama
We have to be aggressive in promoting our products and realise also that China is a very competitive market. So, we have to place our strength in terms of quality, packaging, and pricing, because everybody is there to capture this 400 million Chinese middle class (market).
Datuk Abdul Majid Ahmad Khan