KUALA LUMPUR – Digital economy investments from China are welcomed by Malaysia, according to Datuk Seri Saifuddin Abdullah, Malaysia’s Foreign Minister.
During a joint press conference with China’s Foreign Minister, Wang Yi, on July 12, Saifuddin highlighted the importance for collaboration between both countries in the fields related to the digital economy and telecommunication corporations.
He said that he has impressed upon Wang on the importance of the digital economy in Malaysia, adding that it is the way forward to reconstruct the country’s economy and sustain future growth.
Saifuddin had a bilateral meeting with Wang, scheduled as part of the latter’s two-day official trip to Malaysia. Saifuddin said that the meeting with Wang, who is also the China State Councillor, was warm and fruitful.
Furthermore, the Malaysian minister added that 2023 will mark the 10th Anniversary of the Comprehensive Strategic Partnership (CSP) between both countries. He announced that both nations have agreed to honour this significant milestone.
Additionally, he said that both parties are also looking forward to more high-level visits in the future in order to foster greater trust between both countries.
According to Saifuddin, Wang had met with the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah and Prime Minister Datuk Seri Ismail Sabri Yaakob during this trip and they had expressed their interest to visit China when the opportunity arises.
During the press conference, Saifuddin remarked that President Xi Jinping’s “Community of Shared Future” concept aligns well with the concept of “Keluarga Malaysia.”
“Malaysia supports China’s initiative to promote openness, inclusivity, and mutual respect. We embrace the concept in principle,” he stated.
The Malaysian Minister also stated that a discussion was made regarding the Belt and Road Initiative (BRI); the “Two Countries, Twin Parks” project; the East Coast Rail Link (ECRL) project; as well as the Automotive Hi-Tech Valley cooperation.
Both countries, he said, also spoke on matters related to the relationship between ASEAN and China as a dialogue partner, specifically on the CSP between the two countries.
Previously, the Minister in the Prime Minister’s Department (Economy),, Datuk Seri Mustapa Mohamed, stated that Malaysia is on course to achieve a digital economy contribution to gross domestic product (GDP) of at least 25.5% by 2025.
Bernama reports that in 2020, the digital economy contributed 22.6% towards Malaysia’s GDP.
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