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PETALING JAYA: Malaysia holds numerous attractive attributes that position it as a prime regional investment destination for foreigners, as highlighted by the CEO of Holistic Wealth Group, Datuk Chua Meng Min (pic).
Chua emphasized that Malaysia should be a preferred hub for foreign direct investment (FDI), citing its appealing qualities, including robust infrastructure and relatively lower operational costs for office rentals, plant setups, and regional offices compared to other Southeast Asian countries, notably Singapore.
"Office rental and building a factory in Malaysia are comparatively inexpensive. Singapore, being one of the countries with the highest cost of living globally, raises the question of why a foreign company would choose to establish a regional office there," remarked Chua in an interview with SunBiz.
He pointed out that most manufacturing operations occur in developing ASEAN countries like Malaysia, Indonesia, and Thailand. Given the lower business operation costs in Malaysia, Chua asserted that it is the more ideal location for setting up a regional office.
Additionally, he highlighted Malaysia's widespread use of the English language and well-educated workforce as significant advantages, making Malaysians viable candidates for employment by foreign companies.
Chua emphasized Malaysia's safety and diverse entertainment options, making it attractive to expatriates and foreign companies. He argued that with these merits, Malaysia should be well-positioned to attract more FDI.
Recognizing the importance of FDI, Chua commended the government's efforts in promoting Malaysia but suggested that more initiatives are needed to establish Malaysia as a prominent investment haven in the region.
In terms of competition, he identified Singapore as Malaysia's main rival for attracting FDI in the region. Chua urged highlighting Malaysia's lower business setup costs compared to Singapore to capture investors unfamiliar with the country.
He also identified Vietnam and Indonesia as competitors with limited advantages, underscoring Malaysia's infrastructure, English-speaking advantage, and the presence of internationally recognized educational institutions.
Chua identified future growth sectors in electrical and electronics, environmental, social, and governance, as well as renewable energy. He emphasized the potential for Malaysia to tap into the growing electric vehicle (EV) industry and the need to diversify to manage risks in the face of global uncertainties, such as import bans and tariffs arising from geopolitical conflicts.
