Skip to content

First 2 CMQIP factories to be ready soon

ong ka ting
Malaysia-China Business Council chairman Tan Sri Ong Ka Ting (second from right), during a visit to CMQIP. With him are (from right) Qinzhou party secretary Xiao Yingzi, CMQIP administrative committee executive deputy director Fan Li, Rimbunan Hijau Group executive chairman Tan Sri Tiong Hiew King, and economic and commercial counselor in the Chinese embassy in Malaysia Wu Zhengping.

QINZHOU: The first two factories at the China-Malaysia Qinzhou Industrial Park (CMQIP) here will be completed soon and commence operations by end of the year.

CMQIP administrative committee executive deputy director Fan Li said the projects by Guangxi Gangqing Oil and Industrial Co Ltd and Guangxi HebaBiz Pharmaceuticals Ltd had a combined targeted output of 10 billion yuan (RM5.27bil).

“A third project, which is a Malaysian halal park, will begin its construction in October,” he told the delegation of Malaysia-China Business Council during a visit to CMQIP last Friday.

The 24ha facility by Sanbao Resources (Asia) Inc is expected to begin manufacture halal food products by the end of next year.

MCBC chairman Tan Sri Ong Ka Ting, who is also the Prime Minister’s special envoy to China, proposed to the Guangxi provincial government to set up a liaison office for CMQIP in Malaysia as an effective channel of communication between the park and interested investors. “We can also look into organising a big-scale event in Kuala Lumpur to attract investors for CMQIP,” he said.

During the visit, Ong witnessed the signing ceremony of overseas direct cross-border Renminbi loan agreement between Bank of China (M) Bhd and China-Malaysia Qinzhou Industrial Park (Guangxi) Development Co Ltd.

The bank’s deputy chief executive officer Jenny Xu said the agreement detailed an initial loan of 30 million yuan (RM15.8mil) for the construction of infrastructure at CMQIP, with more loans to be facilitated in the future.

CMQIP and Malaysia-China Kuantan Industrial Park are sister parks. They are the first government-to-government project between China and Malaysia.

CMQIP is developed by a joint venture between Qinzhou Development (Malaysia) Consortium Sdn Bhd (led by SP Setia Sdn Bhd and Rimbunan Hijau Group) and China’s Qinzhou Jingu Investment Co Ltd.

by Tho Xin Yi

SOURCE: The Star, 20 September 2014.

Releated Posts