Seven years’ investment value from China surpasses RM20b

By DASHVEENJIT KAUR / Pic By TMR

Malaysia recorded a total of RM22 billion in investment value from China over the last seven years, creating a total of 38,643 job opportunities.

Deputy International Trade and Industry Minister Datuk Chua Tee Yong (picture) said between the years 2010 and 2017, there were about 180 projects between Malaysia and China under the manufacturing sector that contributed to the large investment value.

“The products that recorded the highest investment value within the manufacturing sector were basic metal products (RM9.2 million), electronic and electrical products (RM5.5 million), non-metallic mineral products (RM4.5 million), as well as transport equipment (RM1.07 million),” he said in the Dewan Rakyat yesterday.

He was responding to a query from Indera Mahkota MP Datuk Fauzi Abdul Rahman who asked the total investment recorded from China and approved projects under the Malaysia-China Kuantan Industrial Park (MCKIP).

Chua said the approved projects under MCKIP includes Chinese companies that have implemented large-scale investments in the manufacturing and services sectors in the country.

Among them are Alliance Steel (M) Sdn Bhd (basic metal industry), Ye Chiu Non-Ferrous Metal (M) Sdn Bhd (basic metal), Longi Solar (Kuching) Sdn Bhd (solar), Jinko Solar Technology Sdn Bhd (solar), Ji Kang Dimensi (M) Sdn Bhd (base metal), Xinyi Solar (M) Sdn Bhd (solar), Xiamen University (education services), as well as Huawei Technologies (M) Sdn Bhd (information and communications technology).

“It is possible to have a positive impact on the country, especially in terms of offering business opportunities and high value employment opportunities to locals.

“Such investments from these Chinese companies have helped to stimulate the country’s economic development,” he added.

Chua also highlighted on the strategic agreements that have been signed between Malaysia and China for the MCKIP project in Gebeng, Kuantan.

“Ownership between the Malaysia and China consortium for the establishment of MCKIP joint-venture company and memorandum of understanding (MoU) is between the East Coast Economic Region (ECER) Development Council and the Guangxi Beibu Gulf International Port Group Co Ltd.

“Guangxi Beibu is involved in the development of three projects, namely steel mills, aluminium mills and a palm oil refinery,” he said.

Chua further added that there is also an MoU between Guangxi Beibu and Rimbunan Hijau Group signed for the investment in a palm oil refinery in MCKIP, as well as an MoU between IJM Corp Bhd and Guangxi Beibu on the development and expansion of Kuantan Port.

“Besides that, there is also an agreement on financial cooperation between China Development Bank Corp and MCKIP’s master developer involving the Malaysia and China consortium.

“These are among the efforts that prove the government’s commitment in attracting high quality investments into the country,” he said.

MCKIP is the first industrial park to be jointly developed by Malaysia and China.

Located in the ECER and facing the South China Sea, it is a gateway access to tremendous growth potential in the Asean and Asia-Pacific market, as well as worldwide markets, according to the Ministry of International Trade and Industry.