BEIJING: The four-day official working visit of Prime Minister Datuk Seri Anwar Ibrahim to China, which ended yesterday saw a long list of successful outcomes and was historic in many ways.
The visit was built upon the strengthening of bilateral relationship established since 1974.
Malaysia continues to receive investment commitments and a high amount of confidence among businesses and industrial figures in China, who are expected to double their investment in Malaysia.
This confidence, which were expressed by Chinese captains of industries were due to Malaysia's independent stance on the world stage, and the investor- and business-friendly approaches practiced by the government through the years.
A total of RM170.07 billion worth of investment commitments was received as a result of the prime minister and Malaysian delegation's visit to China, which is the highest amount ever achieved.
These investment commitments span various business segments, and they will be in addition to another RM2.44 billion from Malaysian products that will be exported to China.
These huge investments were generated by the signing of 19 memorandums of understanding (MoU) between businesses in China and Malaysia in various fields, including green technology and the digital economy.
For the record, China has been Malaysia's largest trading partner since 2009. In 2022, total bilateral trade was valued at RM487.13 billion (US$110.62 billion), which was a 15.6 per cent increase from 2021.
The success of Anwar's maiden visit to China continued with the signing another MoU to strengthen cooperation in the field of education, which includes Technical and Vocational Training Education (TVET) as well as research cooperation with Tsinghua University in Malaysia.
The visit also led to the access for the entry of Malaysian agricultural products into the China market such as palm oil, rubber and biodiesel to be improved, guaranteeing better returns for farmers and local industries.
In the science and technology field, the two countries agreed to improve cooperation in vaccine development and research and development (R&D) in high technology and digitalisation of the economy.
Malaysia also agreed to negotiate with local airlines to increase frequency of flights to cater to the influx of tourists in both countries.
This move was in line with the recent reopening of China's international border, and coincides with Malaysia's effort to revive its tourism sector following the impact of the Covid-19 pandemic.
At the final press conference for the official working visit, Anwar shared his experience of meeting with Chinese President Xi Jinping and his counterpart Li Qiang.
He said both leaders agreed to boost trade relations and economic cooperation under the Belt and Road Initiative (BRI), apart from expediting the East Coast Rail Link (ECRL) project.
Anwar said Malaysia and China agreed to explore new areas of cooperation including new generation car manufacturing through the Automotive Hi-Tech Valley (AHTV) project, as well as the halal industry.
"The reception received was very good and extraordinary. I consider this a very positive development.
"This visit has been of great benefit to Malaysians," Anwar told members of the Malaysian media.
The AHTV project involving a collaboration between DRB-HICOM Bhd, which represents Malaysia and the Chinese company Geely is expected to RM32 billion in investments for the next 10 years, including investments from the national car company Proton.
The mega project, involving an estimated 1,000 acres (404.69ha) area to be developed as a next-generation vehicle hub in Tanjong Malim in Perak, will create tens of thousands of job opportunities for local youths.
In terms of politics and diplomacy, Anwar's official first visit to China was also held in conjunction with the 10th anniversary of the establishment of the Malaysia-China Comprehensive Strategic Partnership.
Malaysia and China are also celebrating the 50th anniversary of diplomatic relations in 2024.
Source: https://www.nst.com.my/news/nation/2023/04/895541/pms-visit-china-marked-high-investment-commitments