Malaysian Chinese businesses invited to invest in Taiwan

Taiwan's minister of overseas community affairs has invited Malaysia Chinese businesses to increase their investment in Taiwan as part of an effort by the new government to promote its "New Southbound Policy" aimed at boosting economic ties with regional economies.

Wu Hsin-hsiing (???) extended the invitation on Thursday to a group of executive members from the Federation of Malaysia Chinese Guilds Association (FMCGA), who were on a two-day visit to Taiwan from Oct. 26-27, headed by federation president Chai Kim Sen (???).

In his meeting with the group, Wu detailed the government's southbound policy and noted that Malaysia is the first choice of many Taiwanese enterprises as an important access point to the Association of Southeast Asian Nations (ASEAN) economic bloc.

Nearly 70,000 ethnic Chinese Malaysian citizens have studied in Taiwan and blended well into local society, Wu said. "With no language or cultural gap, they represent a bridge between Taiwan and Malaysia for exchanges in the areas of trade, economy, culture and tourism."

Aware of the important role played by ethnic Chinese businessmen in the Malaysian business world, the Overseas Community Affairs Council is seeking to reinforce links with FMCGA in the hope that the influential organization will help promote Taiwan's New Southbound Policy, Wu said.

Chai said this is the first time the FMCGA has sent a delegation to Taiwan. The purpose of the trip is to gather more information on investment and business opportunities and seek out potential business partners, he noted.

The federation will assist members make investments in Taiwan and develop the FMCGA into a channel for Taiwan enterprises looking to invest in Malaysia, Chai added.

The FMCGA, formed in 1920, is made up of 88 Chinese guilds, each one with a membership numbering in the thousands.

The federation is not just an important commercial organization, it is also a key pressure group that holds discussions with the Malaysian government on business policy, according to the Overseas Community Affairs Council.

Source: Focus Taiwan News Channel