KUALA LUMPUR: Malaysia remains in a sweet spot to reassert itself as a compelling alternative location for foreign direct investments looking for diversification and reconfiguration of supply chains, says Tan Sri Low Kian Chuan.

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president said the time has come for Malaysia to showcase itself as a land of opportunities to investors worldwide, backed by pragmatic economic policies, conducive business ecosystems and favourable investment climates.

Low, who is the 17th World Chinese Entrepreneurs Convention (WCEC) organising chairman, said the Madani government led by Prime Minister Datuk Seri Anwar Ibrahim, had also laid out national strategic plans and roadmaps to uplift Malaysia towards becoming a regional economic powerhouse.

“We believe that economic reforms and other key aspects will power Malaysia to the next level of economic resurgence,” he said in his address at the 17th WCEC opening ceremony here on Tuesday (Sept 10).

Low highlighted thriving investment opportunities for both domestic and foreign investors in high-growth high-value industries.

This includes semiconductors, AI, EV, data centres, green investment and technology start-ups, renewable energy, smart agriculture, and halal food industries.

Reflecting on the 17th WCEC theme “Reimagineering the Future”, Low said it is most apt as businesses are operating in new realities and demands.

“In a divergent environment of complexity, disruptive technology, divergent economic policies, geoeconomic fragmentation and climate change, innovation, creativity and adaptation are key,” he said.

He also said government leaders and businesses need forward-thinking ideas, solutions and coordinated efforts to build a better future.

“By synergising, sharing knowledge, leveraging on each other strength with a combined experience, chambers of commerce can help their members to progress forward and achieve common goals,” he said.

Low also said the ACCCIM will continue being the leading advocate of business interests, working with the government to navigate local and global challenges and support the business ecosystem.

The 17th WCEC saw participation from more than 4,000 local and foreign delegates.

https://www.thestar.com.my/news/nation/2024/09/10/malaysia-in-039sweet-spot039-for-foreign-direct-investments-says-chinese-chamber-president