Asia’s Premier International Financial Hub
Labuan IBFC Inc. unveils Labuan IBFC China Desk to facilitate cross-border ventures

Platform is aimed at fostering bilateral trades, investments and business expansion

Labuan, 21 March 2024 – Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.), the official promotional and marketing agency for Labuan International Business and Financial Centre (Labuan IBFC) has established the Labuan IBFC China Desk.

China has remained Malaysia’s top trading partner for the last 15 consecutive years, with bilateral trade between both countries reaching a record high of USD156 billion in the first ten months of 2023. The recent mutual waiver of visa requirements between Malaysia and China creates a more conducive environment for people-to-people exchanges and cooperation between both countries.

The financial services sector is a key driver for economic development, and as such Labuan IBFC aims to support economic and trade exchanges as well as cooperation to promote bilateral trade, investment and cross-border business development between Malaysia and China.

As Malaysia and China commemorate the 50th anniversary of the establishment of diplomatic relations in 2024, and with the China-Malaysia Comprehensive Strategic Partnership entering its 11th year, the timing for this move could not be more opportune. Similarly, China is also a strategic market for Labuan IBFC, with a focus on positioning Labuan IBFC as a regional gateway to facilitate investments and business expansion into Malaysia and beyond.

Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO of Labuan IBFC Inc. expressed his optimism about the establishment of the Labuan IBFC China Desk, commenting, “The time is ripe for Labuan IBFC to establish the Labuan IBFC China Desk to facilitate Chinese companies’ entry into the region for investments and business expansion.” He further elaborated, “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.”
 
The implementation of the Labuan IBFC China Desk is based on a four-pronged approach. The establishment of the desk firstly, and crucially allows for focused development and implementation strategies that suit the Chinese market. The second approach will focus on collating China-specific market trends and developments to better serve the evolving needs of Chinese investors.

Recognising the significance of China’s unique business culture and language, having a dedicated team with expertise in the Chinese language, culture and business practices is a key third strategy. This ensures seamless communication and fosters mutual understanding, essential for conducting business effectively. Lastly, the Labuan IBFC China Desk will seek to cultivate relationships with Chinese stakeholders, including government agencies and trade associations that are crucial to navigating the Chinese business landscape.

This platform aims to enhance facilitation, communications and support to strengthen the business relationship between Labuan IBFC and Chinese businesses, ultimately fostering the development of local Labuan talent, creating new opportunities for industry advancement, and facilitating high-level strategic cooperation.
The contact details for the Labuan IBFC China Desk are:

1. Serene Liaw (Mandarin)

2. Puteri Nurul Amira (English)

chinadesk@libfc.com
+603-2773 8977


ABOUT LABUAN IBFC
ASIA'S PREMIER INTERNATIONAL FINANCIAL HUB

Labuan International Business and Financial Centre (Labuan IBFC), Malaysia, through its internationally recognised yet business-friendly legal framework, is the preferred international business and financial centre in the Asia Pacific region.

It offers global investors and businesses the benefits of being in a well-regulated jurisdiction, while providing for fiscal neutrality and certainty, in addition to being an ideal location for substance creation.

Labuan IBFC boasts a wide range of business structures and investment solutions catered to cross-border transactions and international business dealings. It offers services and solutions in niches such as asset leasing, risk management, commodity trading, wealth management, international business companies and Islamic financial services to global businesses looking at penetrating Asia and Asian entities aiming to go global.

Labuan IBFC operates within clear and comprehensive legal provisions, guidelines and practice notes, enforced by a single regulator, Labuan Financial Services Authority.

To keep up with everything about Labuan IBFC, follow Twitter or Facebook @LabuanIBFC. Alternatively, visit www.labuanibfc.com

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