Belt and Road Initiative created new business opportunities: Support small and medium-sized enterprises to venture into ASEAN market

Share this if you like:

Oriental Daily

Oriental Daily

Kuala Selangor, Dec 3 – President of Chinese Chamber of Commerce Kuala Selangor and Sabak Bernam District Chen Bai Quan urged small and medium enterprises and businesses to seize the opportunity posed by the Belt and Road Initiative.

“Malaysian small and medium enterprises can work together with the Chinese counterparts, not only in improving their product quality, but also to lower the cost of production, both sides can cooperate to venture into ASEAN market.”

He said the West Coast Expressway which would shorten the distance between Kuala Lumpur and Klang coastal areas was under construction in full swing, once completed it would drive the economic development of Klang coastal areas.

“The Ministry of Tourism and Culture predicted that there will be eight million tourists from China visiting Malaysia next year, if 800,000 of them visit Klang coaster areas, I believe that there will be unlimited business opportunities, I therefore call upon businessmen to seize the opportunity in launching tourism products,” he said.

Chen Bai Quan said this in his speech delivered during the 66th anniversary luncheon cum swearing in ceremony of the Chinese Chamber of Commerce Kuala Selangor and Sabak Bernam District this afternoon.

Deputy President of the Associated Chinese Chambers of Commerce and Industry of Malaysia Tan Sri Dato’ Sri Lim Sing said since the local market is too small, with the wave of globalization, local businessmen especially younger generations must think of venturing in other markets, and should not continue to stay in the market of about 30 million people.

Create a good business environment

He pointed out that the younger generations should go out in large scale, aiming at the ASEAN and China market in conjunction with the Silk Road.

He said every time before the general election, a lot of bad news would emerge on the market, claiming that the economy had completely failed, the country was going to bankrupt at any time, all the statements were based on the stand of partisans.

He said with the experience of 13 general elections, it had been proven that these were all misleading statements; the country’s economy was in normal situation, the so-called bankruptcy was deliberately fabricated by the partisans.

“To seize political power, these people have been creating rumors to try to weaken the confidence of the people and disrupting national development,” he added.

Meanwhile, president of the Associated Chinese Chambers of Commerce and Industry of Coastal Selangor Tan Sri Lim Kuang Sia urged the government to create an amicable business environment for the small and medium enterprises in order to effectively driving the Belt and Road Initiative.

He said some of the small and medium enterprises worried that the Belt and Road Initiative would result in more enterprises from China to come and occupy our market.

“I think our small and medium enterprises must be brave to face the challenges, to turn the crisis into business opportunities, and should be changed with the big trend.”

The total trade volume of the first nine months is RM1.3 trillion

Second Minister of International Trade and Industry Datuk Seri Ong Ka Chuan said under the Belt and Road Initiative, the total trade volume of the first nine months had reached RM1.3 trillion, an increase of 21.7% compare with same period last year.

He pointed out that the trade volume in the first nine months this year had also recorded a high volume of RM690.25 billion, an increase of 21.3% compare with the same period last year.

“China is our biggest trade partner; our products exported to China include palm oil and electronic products.”

He said the Belt and Road Initiative had benefitted Malaysia; hence we should welcome the initiative.

In addition, Ong Ka Chuan said based on the current performance, Malaysia’s annual export growth rate is 16.6%, this was also mentioned in the 2017/18 Economic Report.