China looking to invest in Malaysia’s drone technology

China’s Aerospace and Science Industry Corporation (Casic) is interested in investing in Malaysia‘s high-tech drone industry, says Datuk Seri Dr Wee Ka Siong.

The Transport Minister said Malaysia welcomes high-value foreign investment through the BeiDou Satellite Navigation System, especially technology.

“The development of such industries will not only create job opportunities for locals but will also increase the income of individuals which will give a positive impact on the society and the country,” said Dr Wee on his Facebook on Friday (June 17) after meeting Shenzhen Casic Guanghu Ltd general manager Eng Fox Yang and international business marketing director Frank Feng at the Transport Ministry.

Dr Wee said Casic was an international high-tech entity owned by the China government which has six research institutes, 17 fully owned subsidiaries, nine listed companies on the stock exchange and 150,000 workers.