China’s technological rise presents opportunities for Malaysian companies in post-COVID-19 recovery: official

KUALA LUMPUR, Dec. 17 (Xinhua) — Greater collaboration in the high-tech sector between China and Malaysia will be crucial in expediting Malaysia’s economic recovery following the COVID-19 pandemic, an official has said.

Malaysian International Trade and Industry Deputy Minister Lim Ban Hong told a webinar titled “Malaysia2China: Seizing Opportunities in China’s Technological Rise” held recently that the country’s electrical and electronics (E&E) sector had proven resilient and a major economic contributor and encouraged them to seek out opportunities with Chinese companies, according to a statement on Thursday.

Lim said this should not only include advanced companies in conventional first-tier cities in China but also with small and medium enterprises (SMEs) in second-tier and third-tier cities that are high-tech hubs.

He added that China, Malaysia’s largest trading partner for 11 consecutive years, and Malaysia, a major trading partner for China among the Association of Southeast Asian Nations (ASEAN), needed to strengthen their cooperation in view of their interdependence.

“Malaysia and China can enhance its collaboration in the high-value industry and this will promote Malaysia’s effort to move towards becoming a knowledge-intensive and high-end products and services hub,” he said.

The webinar was jointly organized by the Ministry of International Trade and Industry Malaysia, Malaysia External Trade Development Corporation (MATRADE) and in strategic collaboration with the Industrial and Commercial Bank of China (ICBC Malaysia).

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