JD.com, a major e-commerce and logistics company from China, plans to expand its business in Malaysia, Prime Minister Anwar Ibrahim said.
He said the company was particularly interested in the logistics sector, national news agency Bernama reported on Tuesday.
“I welcome this intention, considering Malaysia’s strategic position which has the potential to emerge as a regional logistics hub, thus opening up more job opportunities for the locals,” he said in a statement.
Anwar said JD.com also plans to buy more Malaysian products and sell them in China.
During his four-day working visit to China, the Prime Minister met with JD.com’s top management, including JD Logistics CEO Hu Wei.
JD.com, listed on the NASDAQ 100 and part of the Fortune Global 500, is China’s biggest e-commerce retailer with over 580 million shoppers. The company runs China’s largest order fulfillment network, allowing 90% of orders to be delivered the same or next day.
After the JD.com meeting, Anwar, who is also Malaysia’s Finance Minister, met with leaders of the China Semiconductor Industry Association (CSIA), led by its chairman Chen Nanxiang.
“In this meeting, I reaffirmed Malaysia’s commitment to becoming a major global semiconductor player as outlined in the National Semiconductor Strategy (NSS),” he said.
CSIA is the umbrella body for over 1,400 Chinese semiconductor companies.
“As an open economy, the Madani government will continue to attract quality investments, explore new opportunities and develop strategic sectors for the prosperity of the people and a brighter future for Malaysia,” said Anwar.
In July, JD.com announced its “10 Billion Growth Plan”, aiming to bring 1,000 new international brands to China through cross-border e-commerce over the next three years.
JD.com said it will use its strong cross-border supply chain to connect global brands with Chinese consumers who are increasingly looking for international products.
“It’s a win-win for everyone, with these overseas brands achieving a total sales growth of 10 billion yuan,” the company said then.
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