Labuan International Business and Financial Centre (Labuan IBFC) has established the Labuan IBFC China Desk to enhance cross-border trade and investment between Malaysia and China.
The platform aims to improve facilitation, communications and support to strengthen the business relationship between Labuan IBFC and Chinese businesses.
The move will also foster the development of local Labuan talent, create new opportunities for industry advancement and facilitate strategic cooperation.
The company plans to implement a four-pronged strategy that focuses on targeted development, market trend analysis, Chinese cultural and linguistic expertise and stakeholder relationship cultivation.
Labuan IBFC's initiative coincides with the fiftieth anniversary of Malaysia-China diplomatic relations and the eleventh year of the comprehensive strategic partnership between both countries.
China has remained Malaysia’s top trading partner for the last 15 years, with bilateral trade reaching a record high of US$156 billion in the first 10 months of 2023.
Datuk Iskandar Mohd Nuli, executive chairman and CEO of Labuan IBFC, comments: “The time is ripe for Labuan IBFC to establish the China Desk to facilitate Chinese companies' entry into the region for investments and business expansion.
“Ultimately, Labuan IBFC will serve as a gateway to promote bilateral trades, investments and cross-border business expansion between Malaysia and China, as well as with the rest of the region.”
