KUALA LUMPUR: The signing of several memorandums of understanding between Malaysian and Chinese companies in Beijing on Sunday, with proposed investments of about RM31.3 billion, indicates that investors are confident about Malaysia, according to the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

“This shows investors’ confidence [in Malaysia] is much higher than we thought,” said ACCCIM deputy secretary-general II Michael Chai Woon Chew.

And rather than labour-intensive businesses, Malaysia has been attracting high-technology companies, which the government has been trying to do, he said.

On another note, he said ACCCIM is joining hands with several other Chinese youth associations to enhance awareness of Malaysia’s 2050 National Transformation (TN50) initiative and gather feedback from youths regarding Malaysia’s aspiration to be a top 20 country in the world by 2050.

“A lot of Malaysian graduates are facing problems getting a job. The whole economy and [traditional] business model[s] are changing,” said Chai.

Nevertheless, he said “Malaysia is in a very unique position and the chances of achieving it are there”, when asked if Malaysia would be able to realise its TN50 initiative.

He was speaking at a media briefing on “TN50 Town Hall in Selangor”, which will be held on May 27 at 2pm at Seng Peng Hall, Wisma Chinese Chamber. The event is jointly organised by the ACCCIM Young Entrepreneurs Committee and the Federation of Malaysia Chinese Guilds Association (FEMACGA)’s Youth Group.

The town hall aims to enhance public awareness, in particular among youths, and to collect views, suggestions and recommendations on the future direction of the country, for consideration by the relevant government agencies in formulating policies.

The national council member cum chairman of the ACCCIM Young Entrepreneurs Committee, Datuk Ng Yih Pyng, said a lot of suggestions for TN50 now are related to current issues. Youths, he said, should suggest ideas in relation to issues that they believe will occur 30 years down the road instead.

Datuk Tan Bok Koon, the committee member cum youth chairman of FEMACGA, said some of the main concerns highlighted so far are regarding start-up businesses, loans and facilities.

