Malaysia sets up new center to help SMEs take part in Belt and Road initiative

The Malaysian Chinese Association (MCA), a major component party of the ruling Barisan Nasional coalition in Malaysia, set up a new entity on Monday to help the country's small and medium-sized enterprises (SMEs) to participate in the China-proposed Belt and Road initiative.

The MCA Belt and Road Center (MBRACE) will serve as a platform to conduct survey and research in relation to the initiative, provide consultation and information sharing services as well as help businesses go overseas.

Chuah Poh Khiang, executive chairman of MBRACE, said the center is mainly to help private sector find business opportunities in the Belt and Road initiative, especially small and medium-sized enterprises, which often complained about being left out in the face of major infrastructure projects.

In addition, 46 Chinese associations present at the event also signed the "Malaysian Chinese Belt and Road Declaration" to support the development of Sino-Malaysian relations and the initiative.

"We believe that Belt and Road initiative will create new opportunities for economic and trade ties as well as good relations between China and Malaysia, and we believe it can also make great contributions to regional stability and prosperity," said the declaration.

"When we talk about Belt and Road initiative, it's actually connecting people, connecting countries, connect to compete, connect to build business, connect to grow our economy," said MCA President Liow Tiong Lai.

By taking the initiative to participate, Malaysia can not only attract investments from China, but also from other participants in the Belt and Road program throughout the whole world, said Liow. Endit