Malaysia is seeking to deepen economic cooperation with China by strengthening partnerships between businesses from both countries, particularly in enabling local small and medium enterprises (SMEs) to participate in supply chains and benefit from greater investment opportunities.
Minister of Entrepreneur and Cooperatives Development Steven Sim Chee Keong said Malaysia welcomes Chinese companies to invest in the country while encouraging them to partner with Malaysian SMEs to create wider business opportunities for local enterprises.
“More importantly, we hope Chinese companies will work together with Malaysian SMEs, enabling local businesses to participate in supply chains and gain access to more business opportunities.
“I believe that cooperation between Malaysian and Chinese businesses can create even greater commercial opportunities for both countries,” he said in his speech at the opening ceremony of the 16th Malaysia-China Entrepreneurs Conference, organised by the Malaysia-China Chamber of Commerce (MCCC) here, today.
Sim was also representing Prime Minister Datuk Seri Anwar Ibrahim.
Meanwhile, the minister said the government was also strengthening the domestic SME ecosystem through Budget 2027, which introduced three historic measures, including allocation of RM67.9 billion for SMEs, tax reductions of up to two percentage points and an exemption from next year’s minimum wage increase.
He said the measures aimed to ease the challenges SMEs face amid rising operating costs, intense market competition and financing constraints.
He added that the government recognised the importance of ensuring that local businesses were sufficiently supported to grow, become more competitive and participate in wider economic opportunities.
Sim said the Ministry of Entrepreneur and Cooperatives Development (KUSKOP) had channelled RM11 billion in financing to more than 300,000 entrepreneurs nationwide over the past 10 months, including a RM230 million special fund for Chinese Malaysian businesses.
At the same time, Sim said bilateral relations had reached historic heights, with both countries entering what had been described as a “Golden 50 Years” of diplomatic relations.
He said building mutual trust between the two countries required not only government-to-government cooperation but also stronger people-to-people exchanges and business engagements.
He also commended the MCCC for its 36 years of efforts in strengthening economic and trade relations between Malaysian and Chinese entrepreneurs.
The conference, now in its 16th edition, has provided a platform for businesses from both countries to establish connections, exchange ideas and explore potential partnerships.
Sim said this year’s conference theme, “A Millennium of Trade, Built on Virtue”, underscored the importance of credibility, trust and mutual benefit in building sustainable business relationships.
He said Malaysia’s multicultural and multilingual workforce also offered an advantage to Chinese businesses seeking to expand their presence in Southeast Asia and other international markets.
Malaysia’s ability to connect with markets in Southeast Asia, China, India and West Asia, coupled with widespread English proficiency, provided businesses a platform to access wider international markets.
