A think tank in China has suggested three measures to enhance Malaysia-China cooperation in business and technology.
Liang Haiming, the chief economist of the China Silk Road iValley Research Institute, noted, in an opinion piece in Global Times, that these could help reduce the complaints Malaysians had about Chinese businesses.
Having visited Malaysia, he said, he found one of the major complaints was that businesses from China had opted to equip themselves with Chinese materials and labourers rather than purchase goods in Malaysia and hire locals.
Another complaint was that the advanced technologies and management experiences of Chinese enterprises investing in Malaysia were largely inaccessible to local smaller businesses.
To help correct this, Liang suggested three initiatives:
One, having an online platform for the implementation of Belt and Road projects between Chinese and Malaysian enterprises.
“In addition to offering an overview of projects in Malaysia, the platform could also be utilised by Chinese enterprises seeking access to investment-worthy projects. The online platform could act as a mediator, and provide corporate consulting services and training courses among other services.”
He envisaged the possibility of this platform being extended into Asean and eventually becoming a Taobao-like marketplace tailored to the Belt and Road initiate of China. Taobao is the biggest consumer-to-consumer e-commerce platform in China.
Second, noting that the global halal market was worth a staggering US$2.3 trillion, Liang suggested Chinese enterprises consider building industrial parks that were halal-certificated and which allowed them to partner with local smaller businesses to jointly tap into this giant market.
Third, China can consider hosting a yearly international convention with Malaysia, specifically on the Belt and Road initiative, modelled after such events as the World Economic Forum in Switzerland or the Shangri-La Dialogue held in Singapore.
China and Malaysia, Liang said, could start an annual meeting on the Belt and Road to be held in countries and regions along the route.
“By doing so, Malaysia could become an offshore broadcasting centre that plays an important role in increasing the initiative’s global clout. Besides, Malaysia’s national image could be boosted and more opportunities would be explored for the development of the Malaysian economy, resulting in benefits for both Malaysian businesses and Chinese investors.”
Saying Malaysia was strategically situated in Southeast Asia, he said, it could serve as a significant point in China’s proposed 21st Century Maritime Silk Road as well as a bridge in the implementation of the Belt and Road initiative to Asean, the Middle East, West Asia and South Asia.
As such, Liang said, it would greatly benefit China’s businessmen to explore opportunities and invest in Malaysia, taking into consideration the desire of the Malaysian side to benefit from not only trade but also technological know-how from China.
Source : @ FMT Online