HSBC to continue working with govt to attract more FDI from China

01 Apr 2023

HSBC will continue to work with the Malaysian government to build the ecosystem and administration essential to attract more foreign direct investment (FDI) from China.

HSBC Bank Malaysia chief executive officer Datuk Omar Siddiq said the bank will also continue to provide essential services for Malaysian companies looking to expand and invest in China.

“Over the years, HSBC has helped Malaysian companies to enter the Chinese market and helped Chinese enterprises and their subsidiaries to access the Malaysian market.

“This includes cross-border investments spanning a range of sectors inclusive of infrastructure, automotive, solar, paper, e-commerce and social media, among others,” he told Bernama.

Omar has joined the Malaysia-China Business Forum organised by the Ministry of International Trade and Industry on Saturday (April 1). This was held in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to China this week.

He said HSBC’s strategic focus on the Asean region and the Malaysian government’s goal to boost international investment are well aligned.

Besides, he said China and Malaysia have enjoyed a strong and enduring relationship and this has evolved significantly in a rapidly changing global environment.

Located strategically in the heart of Asean, he said Malaysia continues to be an attractive destination for investment from China and elsewhere.

“Fully unlocking the potential of Malaysia will hinge on the development of trade and investment between the country and the wider world.

“Now more than ever, as China makes its economy more accessible to global investors, both China and Malaysia should work closely together to develop a long-term strategic approach and relationship.

“There is already a strong foundation in place, on which to build this long-term vision of China and Malaysia as strategic partners, and the determination to make it happen,” he added.

Source: Bernama