Malaysia to accelerate digital, green development

2024-05-17 Editor : Mo Honge ECNS App Download

Chinese companies are expected to play a key role in supporting Malaysia's green and digital economy amid closer China-Malaysia ties.

In the past few years, Malaysia has been talking about green energy and innovation, and big companies from China are making significant investments in this sector, said Wee Ka Siong, president of the Malaysian Chinese Association.

"(The companies from China) are doing something that is in line with the policy of the (Malaysian) government, so we welcome all these investments," said Wee, adding that he hopes Chinese companies can increase their investment portfolio in Malaysia and create more job opportunities for locals.

May 31 will mark the 50th anniversary of diplomatic relations between China and Malaysia. Wee told China Daily that investments by Chinese companies in Malaysia have generated mutual benefits for both countries and he hopes this relationship will continue.

With Malaysia's ambitious plan to become a digital economy hub in Southeast Asia, Chinese companies such as Huawei, Alibaba and BYD have become key players in Malaysia's push to accelerate its digital and green economic growth.

BYD, China's biggest electric vehicle maker, has received more than 10,000 orders since entering the Malaysian market in December 2022, accounting for more than 40 percent of the local EV market.

There has been a gradual growth of EV-related industries in Malaysia, such as charging stations and intelligent connectivity, said Liu Xueliang, general manager of BYD Asia-Pacific's auto sales division and president of BYD Japan.

"There will be some fundamental changes in (the country's transport) infrastructure with the development of EVs," Liu said.

Huge potential

He said there is huge potential for economic cooperation between China and Malaysia, which can provide opportunities for Chinese companies to work with their Malaysian partners in the green economy.

Malaysia and China should collaborate more in the electronics and electrical industries, moving from the assembly of chips and electronic equipment to integrated circuit design, said Koh Tsu Koon, chairman of the board of governors at Wawasan Open University.

"The IC (sector) has been dominated by the United States … and China is now an emerging player in this industry, so I think this will offer great opportunities for collaboration between China and the Association of Southeast Asian Nations," said Koh, noting this is particularly important for Penang, Kuala Lumpur and Johor — the three main centers of Malaysia's electronics and electrical design industries. 



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