Huang Huikang: Capital controls in China has no impact on Chinese funds investing in Malaysia, collaboration in industrial park to continue

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Photo Credit: China Press

Photo Credit: China Press

China Press, 16 Mac 2017

(Kuantan 15 Mac) Capital control measures imposed in China do not affect Chinese

funds investing in Malaysia, the Kuantan Industrial Park would still be the flagship

collaboration between Malaysia and China, says Huang Huikang, ambassador of China

to Malaysia.

 

Huang leads a delegation to visit the Malaysia-China Kuantan Industrial Park today.

When checking on the progress of the Kuantan deep sea port invested by China, Huang

said the progress of the key projects was satisfactory. This has delivered consensus of

leaders of both countries to create a new model of bilateral collaboration in industrial

park as the model for China to collaborate with other ASEAN countries in future.

 

“Key project in the industrial park – the joint venture to produce 3.5 million tons of steel

a year is now at the phase of assembling equipment. The target is to start production in

stages by the end of the year. This offers 3,000 job opportunities and create at least

10,000 jobs for both upstream and downstream sectors.”

 

He said the plant would be the most advanced steel factory in the world, upgrading the

production and efficiency of steel industry in Malaysia.

 

China as the largest foreign investor

 

He also said the factory would create chain development for both upstream and

downstream industries and develop the industrial park to be an integrated industrial

parks with new projects in new energy, pottery, rubber, aluminum industry set up in the

industrial park.

 

“By then, a group of small and medium industry would also be developing together. This

will provide a strong momentum to the transformation of economy, upgrading of

industrial park and coastal area development of the East Coast in Malaysia.”

He also said that China has overtaken Netherland, United States, Japan, Singapore and

others to be the largest foreign direct investment in Malaysia as of last year.

Rail project to build a “port city”

 

Huang said the East Coast Rail Line project would start second half of the year and

complete in 6 years. With Kuantan port and Malaysia-China Kuantan Industrial Park in

line, Kuantan would be shaped as a modern “port city”.

 

“Once the rail road which runs through the Peninsula Malaysia is completed, it does not

only become the major artery to drive the transformation of Malaysian economy but

Kuantan, which is equipped with air, sea and land transport, would be developed as a

‘port city’ in future.”

 

He said upgrading work of Kuantan deep sea port is in progress. In future it is not only

the largest port in East Coast but an important zone for 21 st century maritime Silk Road.

“This development series are tangible which benefit the business and people of both

countries to continue with the pursuit of better development and scale new heights.”

He also said many major infra-structure projects in Malaysia were handed to Chinese

corporations to deliver. This did not only show Malaysia and China had good ties but

also proved that Chinese corporations were capable of completing the construction

projects for China to be the largest contractor in Malaysia.

 

Kuantan Industrial Park attracts RM18.1 billion of investments

Malaysia-China Kuantan Industrial Park was launched in 2013. It is a joint-venture

between Malaysia and China to build an industrial park at the country-to- country level,

playing an important role in collaboration of industrial park chain between Malaysia and

China. It has attracted RM18.1 billion of local and foreign investment, creating 24,140

job opportunities.

 

Currently Malaysia and China Kuantan Industrial Park Joint-Venture Company is the

main developer of the industrial park comprising IJM Land Bhd, Sime Darby Properties

Bhd and Pahang state government.

 

Projects by Alliance Steel(M)Sdn Bhd and the Malaysia-China Kuantan Industrial Park

joint-venture company have been approved by the industrial park while other identified

projects are under these companies: Zhongli Group in Guangxi, Guangxi Investment

Group, U High Technology New Materials Ltd Co, Suntech Solar Power Ltd Co. Ltd in

Wuxi and Zkenergy Science & Technology Ltd. Co in Hunan.

 

VIP guests joining ambassador Huang to visit the park included Kalaivati, senior

executive project manager of East Coast Economic Region (ECER), Xu Jia Ren, senior

manager of investment division of ECER, Chen Yuan Li, manager of Malaysia-China

Kuantan Industrial Park, Lu Yong, vice general manager of Beibu Gulf Holdings

(Malaysia) Ltd Co, Arifin, general manager of ECER projects, Chong Sin Kiat, managing

director of IJM Land, Datuk Seri Jebasingam Issace John, CEO, East Coast Economic

Region Development Council, Yang Ruobing, general manager of project division under

MCC Overseas (M) Sdn. Bhd, Hu Jiulin, deputy commander of project division, Alliance

Steel, Lin Chuanyuan, general manager of Alliance Steel, Datuk Yan Meng Jie, ASEAN

Resources executive chairman, Ma Zhengguo, general manager of Beibu Gulf Holdings

Ltd Co, Shi Ziming, economic and commercial counsellor of Embassy of China in

Malaysia and Datuk Sun Xing Cun, chairman of the board of Malaysia-China Kuantan

Industrial Park Joint-Venture Company.