Response from Taiwanese investors, who were seeking new partnerships and opportunities, were very encouraging.
TAIPEI: Selangor is targeting closer collaboration with Taiwanese investors in line with the country’s refreshed policy of expanding aggressively into Asean.
Selangor State senior executive councilor for Investment, Industry and Commerce, Small and Medium Enterprise and Transportation Datuk Teng Chang Khim said response from Taiwanese investors, who were seeking new partnerships and opportunities, were very encouraging.
“We noted strong interest from the 700-odd participants at the 2016 Malaysia Selangor-Taiwan Business Summit which took place on June 21,” he told members of the Malaysian media on the sidelines of the summit on Tuesday.
The summit, organised by the Selangor Information Technology and E-Commerce Council and Invest Selangor, the Selangor state investment promotion agency, aimed to promote the development of e-commerce and halal industries in Malaysia.
Teng, who is leading an eight-day trade mission to five major Taiwanese cities from June 19, emphasised that the summit was an event that focused on penetrating the massive market of 600 million in Southeast Asia.
“We invited potential Taiwanese investors to set up companies in Malaysia and to make the country a base for their expansion into South East Asia and beyond,” he said.
Teng said Selangor stood out for its strategic location, developed infrastructure, cities and towns, as well as, logistical systems that offered immense potential and benefit for Taiwanese investors.
“We are also encouraging cross-border transactions where Taiwanese companies can trade and export from Taiwan through the e-commerce platform.
“Investors can also look at tax incentives provided by the Port Klang Free Trade Zone which offered a storage base for export activities.
“This will encourage them to expand from Malaysia,” he said, adding that Malaysia remained attractive to investors and its e-commerce industry was booming.
Teng said that Asean had over 87 million online customers and 20 million came from Malaysia, he disclosed.
“Despite challenges in cross border trading, Selangor remained adamant in building itself as the trading hub for e-commerce in Southeast Asia,” he said.
Teng emphasised that any enterprise that chose to invest in Malaysia and Selangor, was actually targeting Asean, Asia and even the global market.
“Malaysia will soon join trade pacts such as the Trans-Pacific Partnership Agreement and Regional Comprehensive Economic Partnership, which are advantageous platforms that can be utilised to increase economic ties between Malaysia and Taiwan,” he added. — Bernama