KUALA LUMPUR, May 4 (Bernama) – Malaysia remains Taiwanese companies’ favourite investment destination, judging from the cumulative investment of US$12.4 billion (US$1 = RM3.94) as at last September, said Taipei Economic and Cultural Office in Malaysia Representative James Chang Chi-Ping.
He said the Taiwanese investors were mainly involved in the manufacturing, electronic, biotechnology and high-technology related sectors, investing about US$110 million in Malaysia in 2016.
“We believe the value would be even greater for 2017, as an electronic investment of about RM1 billion alone had been approved last year,” he told reporters after officiating the second edition of the Taiwan Excellence 2018 here, today.
The three-day event, starting today, serves as a promotional platform to raise awareness and interest among Malaysians on Taiwan’s breakthroughs, culture and traditions.
About 100 products ranging from beauty, home living, sports, as well as information and communications technology from 33 Taiwanese companies are being showcased at the event.
Chang believes with the strong presence of Taiwanese firms totalling 1,700 in Malaysia, coupled with the New Southbound Policy launched in August 2016 and close relationship between the two economies, the two-way trade would grow about 10 per cent in 2018 from US$17.56 billion last year.
In his opening remarks, Chang said Taiwan’s total imports from Malaysia rose 14.5 per cent year-on-year (y-o-y) to US$7.19 billion last year, while exports to Malaysia jumped 32.7 per cent y-o-y to US$10.67 billion.
“Malaysia was Taiwan’s seventh largest trading partner in 2017 (2016: eighth), while Taiwan was Malaysia’s fourth largest investor after Japan, the United States and Singapore last year,” he said.
On halal segment, Chang said 150 hotels and restaurants in Taiwan, as well as more than 800 Taiwanese products had obtained the halal certification from the Department of Islamic Development Malaysia thus far.
“We will continue our efforts to make Taiwan a Muslim-friendly destination,” he said, adding that Muslims made up one-tenth of the 528,000 Malaysian tourist arrivals on the island last year.