ECER Woos China Investors

September 10, 2008 14:42 PM

ECER Woos China Investors

KUALA LUMPUR, Sept 10 (Bernama) -- Some 500 Chinese entrepreneurs from Guangdong province will be briefed on trade and investment prospects in the East Coast Economic Region (ECER) on Friday.

The delegation, comprising high-level government officials, will be briefed in the east coast states of Kelantan, Terengganu, Pahang and Mersing in Johor.

Organised by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM) in conjunction with the 2008 China (Guangdong)-Malaysia Business conference, ECER said the conference will pitch to Guangdong businesses to venture and invest in Malaysia.

"During the conference, the ECER Development Council management will also hold face-to-face business discussions with the delegation and participate in business-matching sessions," ECER said in a statement.

ECER initiative spans over five main industry clusters -- manufacturing; oil, gas and petrochemical; agriculture; tourism and education.

According to China's Commerce Ministry, Chinese companies were venturing overseas to secure raw material supply to feed its fast-growing economy.

"Chinese companies overseas investments stood at US$25.7 billion in the first half of 2008," it said.

Meanwhile, the National Development and Reform Commission of China said Chinese firms invested US$18.7 billion abroad in 2007, up 6.3 percent from a year earlier.

The ECER DC also launched special incentives recently to develop specific business clusters that will stimulate and promote urban and regional economic growth.

"These incentives are tailor-made especially for this region, with the aim of transforming ECER into a cost-competitive and vibrant business hub," ECER added.

-- BERNAMA