Taiwan seeks to attract investment from Malaysia

Taiwanese delegation meets with representatives of Malaysian business community

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Officials from the Ministry of Economic Affairs and Taiwan's representative office in Malaysia (Source: TECO Malaysia/ CNA)

Officials from the Ministry of Economic Affairs and Taiwan's representative office in Malaysia (Source: TECO Malaysia/ CNA)

TAIPEI (Taiwan News) — The Ministry of Economic Affairs’ Department of Investment Services (DOIS) held an event in Malaysia last week in hopes of attracting investment in the island nation.

Chang Yuan-chih (章遠智), the DOIS deputy director-general, said the event was intended to attract overseas Taiwanese enterprises to expand their businesses in Taiwan, reported the Central News Agency. The department hopes that Malaysian firms will gain a better understanding of business opportunities and investment policies in Taiwan as well as how the Taiwanese government would help them recruit talent, he added.

According to Taiwan’s representative office in Malaysia, the event drew quite a lot of attention from representatives of companies and business associations. Representatives of the Federation of Malaysian Manufacturers (FMM), the Malaysia-Taiwan Economic and Trade Association (MTTFA), and the Taipei Investors Association in Malaysia were among the attendees.

In addition, the delegation also visited several Malaysian universities in hopes of collaborating to introduce young Malaysian professionals to Taiwan.

Anne Hung (洪慧珠), Taiwan’s representative to Malaysia, said talent exchanges between Taiwan and the Southeast Asian nation over the years has, in part, contributed to Taiwan’s economic development. There are over 60,000 Malaysian citizens who finished their degrees in Taiwan that are currently living and working in the country, she added.

According to the representative, Malaysia is now Taiwan’s seventh biggest trading partner, and the island country has been the fourth favorite destination for Malaysian investors following Japan, the United States, and Singapore. Bilateral trade reached nearly US$10 billion in the first half of 2019, an increase of 2.9 percent compared to the same period last year, said Hung.