Labuan IBFC to attract more investments from China

lbfcKUALA LUMPUR: The Labuan International Business and Financial Centre (Labuan IBFC) hopes to attract more investments from China under the One Belt One Road (OBOR) initiative.

As such, Labuan IBFC will be taking part in the OBOR roadshows to be held in Beijing, Shanghai and Tianjin from Oct 30 to Nov 5 to promote its position as a mid-shore network centre.

Its Marketing Intelligence and Strategic Communications Director, Farah Jaafar-Crossby said the Labuan IBFC was no stranger to Chinese companies, as it was home to more than 300 companies.

“Labuan IBFC is globally well-regarded as a special business financial zone in Malaysia, and for many Chinese enterprises, it is a hub for their international dealings,” she said in a statement today.

Several Chinese state-owned banks such as the Industrial and Commercial Bank of China Ltd were currently operating from Labuan IBFC.

OBOR is a development strategy proposed by China’s President Xi Jinping, and Malaysia has been part of the initiative since May.