Source: The Star
HONG KONG: Kuantan Port chief commercial officer Mazlim Husin has personally seen how Chinese investments have transformed Kuantan, the capital city of Pahang.
He said the Malaysia-China Kuantan Industrial Park, or MCKIP, has “changed the landscape of the whole industrial development in Kuantan”.
The park opened in 2013 and is located in the East Coast Economic Region. It covers more than 14sq km and caters to heavy, medium and light industries, and features both residential and commercial facilities.
Alliance Steel, one of the biggest steelmakers in Malaysia, is based in MCKIP.
Mazlim said the company’s presence in Kuantan not only encourages other companies to invest in the city but also helps boost socioeconomic development in the community, providing jobs and sources iron ore and other minerals from the local community.
“You can see a lot of improvements and changes around us now. (The investments) just bring people together, and we just want (Kuantan) to grow,” Mazlim told China Daily.
The MCKIP and the China-Malaysia Qinzhou Industrial Park in Qinzhou, Guangxi Zhuang autonomous region, are part of the “Two Countries, Twin Parks” collaboration model between China and Malaysia.
More importantly, this model is a concrete representation of how Chinese investments have grown in Malaysia and have helped strengthen economic ties between the two nations.
China is one of the largest sources of foreign investments for Malaysia.
Last year, China invested RM28.2bil in Malaysia, accounting for over 16% of Malaysia’s RM170.4bil foreign investment revenue, according to the Malaysian Investment Development Authority.
The amount is nearly double the RM14.5bil Chinese investors posted in 2023 and is expected to create over 20,000 new jobs.
Safwan Nizar Johari, acting investment consul for the Malaysian consulate in Guangzhou, said in the past few years, most Chinese investments have been in the EV, battery and related industries.
He said the two countries celebrated the 50th anniversary of diplomatic relations in 2024, and this strong diplomatic relationship has made Chinese companies more confident about investing in Malaysia.
Safwan said Malaysia’s multicultural population is also a huge draw for Chinese investors.
“This contributes to the decision-making of a Chinese company (in choosing an) investment destination in Asean,” Safwan said.
“When they choose Malaysia, it feels like home.
“(It is) very comfortable for them to set up (a business) in Malaysia,” he said. — China Daily/ANN