Hong Kong firms hail Malaysia as ‘go-to place’ for AI, e-commerce development
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Hong Kong companies are hailing Malaysia as 'a go-to place' for artificial intelligence (AI) and e-commerce development. Muzambli Markam, the Malaysian consul general in Hong Kong, expressed confidence that Malaysian firms would not shy away from business in the city following the enactment of the domestic national security law. Malaysia is among the Association of Southeast Asian Nations (ASEAN) and was Hong Kong's second-largest trading partner in 2022. Lien Huiluen, deputy general manager of SenseTime Hong Kong, described Malaysia as 'ripe' for an AI transformation. Some Hong Kong businesses have moved key facilities out of Hong Kong to mitigate risks introduced by the national security law. Hong Kong's Chief Executive John Lee Ka-chiu announced plans to open an economic and trade office in Kuala Lumpur. Hong Kong signed eleven deals with Malaysia, including a railway and property deal for a rapid transit project.
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