Malaysian PM says partnership with China brings win-win results

KUALA LUMPUR - Malaysian Prime Minister Najib Razak has reiterated his welcoming attitude for investment from China on Tuesday, describing China's business community as "one of our partners in building the high-income, high skilled Malaysia of the future."

Najib made the remarks when attending a luncheon in celebration of the Chinese New Year, which was organized by Malaysia-China Business Council, of which he is a patron.

He told the hundreds of guests in attendance, including Chinese Ambassador Bai Tian, that total bilateral trade between Malaysia and China in the last year remained strong at $96.3 billion.

Najib said it was right for Malaysia to become the first ASEAN country to establish diplomatic ties with China in 1974, and "we are right to welcome Chinese investment now."

Najib listed Alliance Steel, the first entrant in the Malaysia-China Kuantan Industrial Park, as an example that engagement with China can bring win-win results.

He said workers at the factory -- where 70 percent of the 4,000 new job opportunities will be Malaysian citizens -- received skills transfer, got better payment, which provides for a better standard of living for them and the local economy also got boosted.

"The government more than welcomes this partnership and strong bond of friendship. We cherish it. Because we know that it is good for Chinese firms and investors, and it is good for the Malaysian people," he said.

The prime minister also talked about other major achievements among mutually beneficial bilateral ties, including the Malaysian campus of Xiamen University, first for a renowned Chinese university to set up a branch campus overseas, the Digital Free Trade Zone, jointly developed by the Malaysian government and Alibaba, as well as Geely's investment in Malaysian carmaker Proton.

He also noted better people-to-people exchanges, as seen in a total of 1.89 million Chinese tourists visiting Malaysia from January to October last year.

"We welcome investment, whether it is from China, Japan, India, Saudi Arabia or any of the many countries with which we have friendly relations," he said.