PETALING JAYA: The intent of the government to consider the setting up of a special committee to monitor the progress of China’s investments in Malaysia has been broadly welcomed by the business community.
Associated Chinese Chambers of Commerce and Industry of Malaysia president Tan Sri Low Kian Chuan said based on experience, foreign investors coming to Malaysia to set up companies and factories have to go through red tape that is time-consuming and costly.
“We hope the government can shorten the approval process from a year to three to six months,” he added, emphasising that a whole-of-government approach must be taken to move investment projects forward. “Instead of making frequent policy changes, Malaysia should create a pro-business environment by reducing red tape and making the approval process transparent,” he said.
“The special committee can look into which procedures can be eliminated from the approval process to make it more simple and systematic. During his trip to China, he said many small and medium enterprises were interested in investing in Malaysia.
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