Economic cooperation between Malaysia and China beneficial to both parties

15 September 2024

KOTA KINABALU: Economic cooperation between Malaysia and China stands to significantly benefit both nations, particularly as the integration within the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) deepens, presenting unprecedented opportunities for growth.

Datuk Susan Wong Siew Guen, president of the Federation of Guangdong Associations Sabah, emphasized that the GBA will not only accelerate economic development in China but also create extensive business prospects for Malaysia.

With the deepening integration of the Greater Bay Area (GBA), unprecedented opportunities are emerging. “Therefore, the economic cooperation between Malaysia and China will undoubtedly benefit both sides immensely,” said Datuk Susan Wong Siew Guen during an investment and trade networking dinner with the Guangdong Province Federation of Returned Overseas Chinese and the Guangdong International Overseas Chinese Chamber of Commerce (GIOCCC) on Saturday.

The 35-member delegation from Guangdong was led by Cheng Nonghao, Secretary-General of the Guangdong Province Federation of Returned Overseas Chinese and Chairman of the Guangdong Overseas Chinese Youth Association.

Prior to their arrival in Sabah on September 14, the delegation had visited Kuala Lumpur and Brunei.

Susan expressed her hope that the networking dinner would foster greater cooperation between the two countries.

She said the Federation of Guangdong Associations Sabah was established with the objective to unite Guangdong folks in Sabah. The federation currently has 20 associate members in the state.

She shared that Guangdong people constitute 70 per cent of the Chinese population in Sabah.

“With the facilitation by Guangdong Province Federation of Returned Overseas Chinese and the government, Malaysia and China will be able to realize more exchanges and cooperations in politics, trade, culture and education in effort to promote bilateral economic and cultural developments.”

Susan also hoped that the China nationals will explore property investments, tourism and business cooperations in Sabah.

She said her company, WSG Group, is currently developing a 100-acre new township in Benoni, Papar.

More than 300 shoplots, 180 terrace homes, 1,000 condominium units and a modern cinema have been built to date.

She added that a sports arena with indoor badminton courts, futsal courts and gymnasium is in the pipeline to groom potential athletes and transform Benoni into a sports city.

Susan said her company has also launched a new project in Benoni last month, namely the Parklane Residences Lifestyle Condominium, that is affordable to most buyers.

“We hope that our friends from China will visit Sabah more frequently to explore the investment and cooperations here, especially in the property, tourism and business sectors.”

The programme also included a sharing session by Sabah Housing and Real Estate Developers Association (Shareda) president Datuk Chua Soon Ping, Sabah Maritime Silk Route Research and Advancement Society chairman Datuk Philip Yong, the Federation of Malaysia Longchuan Association president Peter Chong Su Leong and Sabah Maritime Silk Route Research and Advancement Society secretary-general Yong Yit Yoong.

Chua enlightened the delegates on the Sabah Malaysia My Second Home (Sabah-MM2H) Programme.

He said the criteria require the applicants to be 30 years old and above, and purchase high-rise property valued at least RM600,000.

They are also required to stay in Sabah for at least 30 days every year, and have a fixed deposit amounted to RM150,000 for single individual or RM300,000 for family.

The duration of the Sabah-MM2H Programme pass is for 10 years, with the visa to be issued for an initial five-year period, at the end of which, security and minimum stay checks will be performed before the visa for the remaining five years can be issued.

He said the applicants must also possess medical insurance coverage under the Sabah-MM2H programme.

Meanwhile, Cheng said there is plenty of room for cooperation between Guangdong Province and Sabah.

He believed that the bilateral exchanges and cooperation will be further enhanced with more frequent networking between both parties.

He said Sabah has a large Guangdong community, whose ancestors had worked hard to build better lives for themselves upon emigrating to this land.

“For generations, the Guangdong people here have demonstrated their spirit of perseverance and resilience that resulted in their outstanding achievements today, one of whom is Datuk Susan Wong.”

During China’s economic reform, he said many overseas Chinese have supported the development of basic infrastructure in their hometowns, such as roads, bridges and schools.

He believed there will be more networking and cooperation after the investment and trade networking dinner and hoped that the local counterparts in Sabah will strengthen their cooperation in the GBA as well.

He also welcomed Guangdong folks in Sabah to visit Guangdong to explore investment and cooperation opportunities.

Also present were GIOCCC advisor Ni Bixiong, Federation of Guangdong Associations Sabah honorary advisors Datuk Clement Yeh and Datuk Wong Ten An.