Malaysia-France bilateral trade reached new heights close to 6.2 billion Euros in 2022 with French business concerns in Malaysia steadily increasing with 550 entities including 300 French subsidiaries and 250 entrepreneurs, employing more than 25,000 people.
This was revealed at the Malaysian French Chamber of Commerce & Industry I CCI France Malaysia (CCIFM) Gala Night on Nov 2 held to celebrate the business relationship between the two countries.
Deputy Minister of Investment, Trade and Industry (MITI) Malaysia Liew Chin Tong, who was the guest of honour at the event, said Malaysia is now formative in being an Asian regional hub to overcome issues presented by the supply chain disruption and conducts business at competitive costs.
“We are now charting the way forward for Malaysia and the region by addressing multiple challenges of the pandemic, financial crisis and war which has geo-political implications, There is also a massive shift towards the region away from China to different regions, Southeast being a focus region.
“The nation has planned to create a more suitable investment and indispensable business ecosystem through the \National Energy Transition Roadmap (NETR), the New Industrial Master Plan 2030 (NIMP 2030), the Mid-Term Review of the 12th Master Plan and presently, Budget 2024 and these results will allow foreign nations to come in with ease and for justifiable reasons,” Liew said.
Over 400 guests were welcomed by CCIFM President Richard Fostier together with Ambassador of France to Malaysia H.E. Axel Cruau.
Fostier, in his address, said the recipe for Malaysia’s success includes a robust and business friendly political climate, an English multilingual workforce, and establhed common framework and a mature business environment.
“The Malaysian French community is now more committed than ever to being an integral driver spearheaded by MITI to go into areas as stated in the NIMP 2030 and the industrial transition roadmap, and all efforts outlined in fostering sustainability, prosperity, and higher economic framework.”
The France and Malaysia have long enjoyed a robust and dynamic trade partnership, and this momentous occasion demonstrates the strength and resilience of their economic ties and the event was to look forward to the future of bilateral trade relations. The chamber believes that Malaysia has consistently maintained its status as a competitive destination for French companies. Furthermore, it serves as a regional hub for their expansion and development in the Asia-Pacific region.
The close relationship between the French and Malaysian institutions have played a key role in this success story, the French Embassy and its Economic Department as well as Business France, French Trade Advisors, La French Tech, MIDA, MATRADE, lnvestKL, TalentCorp and MDEC have been working together as a winning team with the chamber and the companies involved.
Selected member companies were also awarded the CCIFM Excellence Award that aims to honour individuals, companies, and organizations that have demonstrated exceptional excellence and innovation in their respective fields, contributing to the growth and prosperity of the Franco-Malaysian business relation.
Among the award recipients were for Outstanding Achievements-Large Company which was granted to Veolia Water Technologies, for “Outstanding Achievements-SME” it went to éolane, while the award for Entrepreneur of the Year was granted to Pen Aviation. Other recipients were ST Microelectronics, DORIS-MMC and Paul Bakeries Malaysia.
The key partners for the Gala Night are Saint Gobain, Airbus, BNP Paribas, Engie, Eolane, Generali, L’Oreal, Safran, Schneider Electric, SPIE Oil & Gas, ST Microelectronics, Stellantis, Veolia, Dassault, JLL, Michelin, Nazsoft Tech, Rotortrade, Societe Generale and Total Energies.
