Investor confidence remains high: ACCCIM

KUALA LUMPUR: The signing of business agreements and memorandum of understanding (MoUs) between Malaysian and Chinese companies with a proposed investment value of about RM31.3 billion reflects investors confidence in Malaysia.

Associated Chinese Chambers of Commerce and Industry of Malaysia’s (ACCCIM) deputy secretary-general II, Michael Chai Woon Chew termed the signings as a positive development, which shows the confidence placed on Malaysia, with Chinese companies coming here to carry out projects.

“We are not looking at high labour intensive businesses, we are looking at high-tech companies as these are the businesses the government is trying to attract,” Chai said.

Nine business deals were inked yesterday in the presence of Prime Minister Datuk Seri Najib Abdul Razak, which includes a Strategic Alliance Agreement between Johor Corp and Siasun Robot Investment Co Ltd for the development of the US$3.45 billion (RM14.9 billion) Robotics Future City in Johor.

On another note, speaking on Transformasi Nasional 2050 (TN50) Chai said many careers we have today may not be relevant in the next five to 10 years, and it is important for youth to voice their needs to the government.

He said unemployment is an existing problem and business models are also changing.

The concerns amongst Chinese youth in the country are related to start-up’s, loan facilities and others.

When asked if TN50 is attainable, Chai opined that Malaysia is in a unique position of achieving it.

Speaking at the same event, Datuk Ng Yih Pyng, ACCCIM’s National Council Member and Youth Entrepreneurs Committee Chairman said a lot of feedback coming from youth are concentrated on the present issues, hence it is important for them to think out of the box and look ahead to 30 years down the road.

It was noted there is still a lack of awareness on TN50 amongst the public, hence the chambers will be coming together with other Chinese youth organisations to organise a Town Hall session entitled “TN50 Town Hall in Selangor,” to be held on May 27 from 2pm to 5.30pm at Seng Peng Hall, Wisma Chinese Chamber.

The organisers intend to gather views, suggestions and recommendations particularly on economic issues from the public.