Malaysia’s competitive labour costs, relatively low business expenses and skilled workforce are strengthening the country’s appeal as an investment destination, according to Far East Consortium International chairman and chief executive officer David Chiu.
Speaking at the “Think Business, Think Hong Kong” symposium in Kuala Lumpur, Chiu said Malaysia’s cost competitiveness and talent pool have supported the company’s operations and made the country an attractive base for foreign businesses.
He also pointed to the cultural similarities between Malaysia and Hong Kong as another advantage for businesses operating across the two markets.
“If you have a team in Malaysia and you want to send them to Hong Kong to run your business there, it is not at all difficult because of the similar culture between Malaysia and Hong Kong,” he said during a plenary session.
Chiu said the supportive attitude of the local government and community towards foreign investors had also helped Far East Consortium expand its operations in Malaysia over the decades.
“We have an annual turnover of over RM3 billion a year. It all happened because Malaysia is very friendly to foreign investors,” he said.
The comments come as Malaysia continues to position itself as a regional hub for foreign investment, supported by its manufacturing base, skilled workforce and growing connections with major Asian economies.
The symposium, organised by the Hong Kong Trade Development Council (HKTDC), brought together Malaysian and Hong Kong business leaders for discussions on cross-border investment and business opportunities.
According to the HKTDC, the one-day event featured business matching, networking sessions and one-on-one consultations, giving Malaysian companies access to government officials, investors, founders, incubators and professional service providers from Hong Kong.
More than 200 government and business leaders, start-up entrepreneurs and professional service providers from Hong Kong participated in the event, marking a record turnout for the HKTDC’s overseas promotion in Kuala Lumpur.
The event highlighted opportunities for businesses from both markets to deepen commercial ties and explore investment and expansion opportunities across Malaysia, Hong Kong and the wider Asian region.