Chongqing - Chongqing's industrial development priorities in areas such as semiconductors, electric vehicles, medical devices, and pharmaceuticals align closely with Malaysia’s, said Vinothan Tulisinathzan, Counsellor (Investment) and Director at the Malaysian Investment Development Authority (MIDA). He emphasized that the two sides have broad prospects for cooperation across these sectors.

"I'm briefly familiar with Chongqing, but I can see the potential in what we have seen so far," Tulisinathzan told Bridging News on the sidelines of the 2025 Land-Sea Economic Forum, held in Singapore on June 12. "Especially on manufacturing, it (Chongqing) is not so much about the assembly and plant, it's more about looking at increasing the high value chain."

Malaysia unveiled the New Industrial Master Plan (NIMP) 2030 on September 1, 2023, with microeconomic targets which include boosting the Gross Domestic Product (GDP) of the manufacturing sector by 6.5% annually. By 2030, this could translate into a substantial RM587.5 billion ($138.38 billion) contribution to Malaysia's total GDP.

To achieve the goal, Malaysia has outlined missions, including advancing economic complexity to move up the value chain, becoming digitally vibrant, pursuing net-zero emissions, and promoting inclusivity and sustainability—ensuring, for example, that investors coming to Malaysia develop in a sustainable way, Tulisinathzan explained.

China was the third-largest investor in Malaysia in 2024. Among the sectors attracting Chinese investment, the electric vehicle (EV) industry stands out as one of the most prominent. Tulisinathzan noted that their focus is not just on the vehicles themselves, but on the entire ecosystem—reflecting Malaysia's consistent ecosystem-based development strategy.

"So we are (also) looking at the battery ecosystem, for example, besides the anode, cathode, the chemicals, and the separators, we managed to attract these companies to be part of the EV ecosystem, ”he said.

The Malaysia-China Kuantan Industrial Park, located in the East Coast Economic Region of Kuantan, Malaysia, serves as the sister park to the China-Malaysia Qinzhou Industrial Park in Qinzhou, China. Leveraging the natural endowments, industrial strengths, and market resources of both countries, the two parks have, over the past decade, accelerated the development of cross-border industrial, supply, and value chains, while advancing the layout of characteristic industries.

Data cited by Xinhua showed that as of 2024, a total of 249 projects had been signed at the China-Malaysia Qinzhou Industrial Park, with fixed asset investments reaching approximately 29.5 billion yuan ($4.11 billion) and a total industrial output value of 93.8 billion yuan. The park has evolved into an industrial hub specializing in the processing and trade of select products. Meanwhile, the Malaysia-China Kuantan Industrial Park has recorded the signing of 13 projects, with total investments exceeding 44 billion yuan and an industrial output value of over 60 billion yuan.

At the same time, Malaysia and Singapore also launched the Johor-Singapore Special Economic Zone (JS-SEZ) earlier this year, aiming to capitalize on the existing synergies between Johor and Singapore to unlock greater economic potential.

In his opening remarks at the forum, Ng Ming Liang, Vice President of the Global Enterprises Division at the Singapore Economic Development Board, said the economic zone allows companies to tap into Singapore's strengths in advanced manufacturing and financial innovation, while benefiting from Johor's cost advantage in resources to build a more complete industrial value chain.

They are seeing good traction and strong interest in the JS-SEZ, Chinese companies—including those from Chongqing—who are coming to Singapore to establish regional operations and explore opportunities across the wider region, said Tulisinathzan.