Guangdong welcomes M'sian investors

GUANGDONG (CHINA): Guangdong, a province on the South China Sea coast of China, is welcoming investors from Malaysia, particularly in the tourism and construction industries to invest in it.The Guangdong Department of Commerce's Deputy Director of the Commercial Relations Division Chen Yanling was also of the opinion that Malaysian investors had an advantage in these two sectors.

"We also would like to expand exports to Malaysia with our advantage in industries like textiles, raw materials and furniture. We know that Malaysia is also a potential market for traditional Chinese medicine.

"We are as such promoting the development and production of traditional Chinese medicine and may export it to Malaysia," she told reporters at a media briefing here, recently.

The Guangdong Department of Commerce is also encouraging Malaysian enterprises to invest in selected fields as palm oil and other raw materials.

SPONSORED CONTENT

Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term

Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya (SMJ) when it posted record high state revenue of RM6.973 billion last year.

Formerly known as Canton or Kwangtung in English, Guangdong, surpassed Henan and Sichuan to become the most populous province in China from January 2005 with a population that exceeds 100 million.

Last year, the import and export volume between Malaysia and Guangdong province stood at US$26.8 billion, representing 26 per cent of the total trade volume between it and Asean, Chen said.

"At end-2013, Malaysian investments in Guangdong province stood at US$795 million, representing 6.7 per cent of the total from the region.

"Guangdong province also invested US$317 million in Malaysia last year, representing 14.3 per cent of our total investment in Asean," she added. The total trade volume between Guangdong province and Asean was on an uptrend, standing at US$122 billion in 2013, a rise of 10.7 per cent as compared to the previous year.

Between 1979 and 2013, Chen said Asean countries had invested in 4,726 projects in Guangdong province, with a total contracted investment volume of US$17.5 billion, while the actual foreign capital used stood at US$11.9 billion.

"Foreign investment from Asean was mainly focused on telecommunications, IT, electronic devices, paper making, raw material chemical products and textiles, among others.

Stay up-to-date by following Daily Express’s Telegram channel.

Daily Express Malaysia

"There are also 333 enterprises from Guangdong province that have set up their own factories in the Asean countries and the actual amount of investment is US$1.04 billion, mainly in the agricultural and retail industries," she added.

Over the next five years, more than RMB900 billion (RM509 billion) will be spent on the development of the north and western parts of Guangdong province. This is to balance out development in the province. -Bernama

Try 1 month for RM 18.00

Try 1 month for RM 18.00

Try 1 month for RM 18.00