Kuantan, Oct 10: Tan Sri Ong Ka Ting, the Prime Minister’s Special Envoy to China and Chairman of Malaysia-China Business Council, announced that development of the 50acre start-up zone of the Malaysia-China Kuantan Industrial Park (MCKIP) is expected to be completed by year-end and a date will be fixed for the official launching ceremony.
MCKIP is located at Gebeng Industrial Park covering 1,500 acres identified by the Pahang State Economic Development Corporation. Its sister park China-Malaysia Qinzhou Industrial Park covering 13,500 acres has already been launched.
Tan Sri Ong said that MCKIP is only 25 km from Kuantan. It is five km from the Kuantan Port, making it closely connected with the Kuantan port city. Under the ECER’s masterplan, this area is designated for comprehensive industrial development and also a logistic hub for goods and services. As such, he said the potential for future development is immense.
He pointed out that the Pahang Chinese Chamber of Commerce could set up a special committee to forge a closer co-operation with ECER Council not only to offer feedback and suggestions but also to explore business opportunities.
The ECER council’s secretariat can compile and offer a list of potential investors from China so that local investors can make direct contacts with them for possible joint ventures, suggested Tan Sri Ong. Likewise, the Chinese chamber’s secretariat can also compile a list of local investors for the ECER Council’s secretariat to do the matching with Chinese investors.
Speaking at a briefing on MCKIP organized by the Pahang Chinese Chamber of Commerce here, he said that Kuantan was chosen to host the QIP sister park because both Kuantan and Qinzhou had well developed sea ports providing the shortest link across the South China Sea. As the journey by sea takes just three to four days, it offers excellent opportunity for closer co-operation.
He said the Prime Minister Dato’ Sri Najib Tun Razak had expressed the hope that going joint venture on the twin parks would lead to an influx of Chinese investment. It is also hoped that the setting up of MCKIP would also spearhead Chinese investments to other areas and thus broaden and deepen our bilateral economic co-operation.
Tan Sri Ong said the Federal and State governments had identified two leading corporations, the Rimbunan Hijau Group and S.P. Setia, to work together with the Pahang State Economic Development Corporation on the setting up of a Malaysian Investment Corporation which will then join hands with the Chinese counterpart to form the Malaysia-China Kuantan Industrial Park Development Corporation to manage the project. The Chinese side comprises Guangxi Beibu Gulf International Port Group, Zhong Jiao property Co, China Harbour Engineering Co and the Qinzhou Investment Arm.
He said at the initial stage, there was need for huge capital investment by big corporations to develop basic infrastructure in coordination with the state government before any campaign to woo investors could be carried out. As such, other participating investors would probably come in next year.
Several meetings between participating partners had been held under the coordination of both governments to discuss in depth major issues such as the overall planning of the industrial park, the structure of the joint investment corporation, the development of infrastructure and amenities as well as incentive policies.
He said the joint investment corporation would be set up very soon to carry out development work while the official promotion campaign to woo investors will be launched after the establishment of the joint investment corporation which is in charge of the execution of the overall plan.
He expected the promotion campaign to target not only investors in Malaysia and China but also worldwide. Entrepreneurs from the Southeast Asian region, in particular, would be encouraged to put their investments here.
Tan Sri Ong pointed out that all participating entrepreneurs and government agencies, especially those leading investors, were attracted by these joint-venture projects not only for their immense potential, they also regard the twin parks as sustainable efforts to deepen and broaden economic co-operation and diplomatic ties between the two nations.
“They have been fired with enthusiasm and boldness to see to their success,” he said, adding that he was convinced that with such unwavering support from the governments and entrepreneurs of both nations, the establishment of the two “sister industrial parks” would be smooth and successful.
Source: Sin Chew Daily News
Compiled and translated by Hoo Ban Khee.