By Ying Xian Wong


China is considering 13.2 billion ringgit ($2.80 billion) of potential investments in Malaysia, following deals between entities from both countries.

The announcement follows Chinese Premier Li Qiang's maiden three-day official working visit to Malaysia.

Eleven memorandums of understanding were signed between several government agencies and companies from both countries, including the Malaysian Investment Development Authority and China International Capital Corp., Malaysia's Ministry of Investment, Trade and Industry said Thursday.

The agreement between MIDA and CICC aims to strengthen economic and industrial collaboration, with focus on enhancing investment opportunities in high-value sectors and exploring supply chain integration in key industries in Malaysia and China.

Malaysia External Trade Development Corp. also signed an agreement with Bank of China (Malaysia) to bolster partnerships with international financial institutions, aiming to improve market access and financing options for Malaysian exporters.

EXIM Bank Malaysia's agreement with the Industrial and Commercial Bank of China (Malaysia) aims to strengthen and enhance bilateral financial relations.

The remaining deals were signed between Malaysian and Chinese companies, focusing on collaboration in high value-added sectors, such as oil and gas, education, agriculture, automotive and utility services, the ministry added.

The agreements underscore the Chinese business community's continued confidence in both countries and reaffirm "Malaysia's position as one of China's key investment and trade partners in the Southeast Asian region," the ministry said.


Write to Ying Xian Wong at yingxian.wong@wsj.com


(END) Dow Jones Newswires

06-20-24 0352ET