Skip to content

Tan Sri Ong says QIP offers best investment opportunity, pledges all-out support

Beijing Nov 27: Tan Sri Ong Ka Ting, the Prime Minister’s Special Envoy to China, reiterated the unwavering support of the Malaysian government for the China-Malaysia Qinzhou Industrial Park (QIP) and he also conveyed Prime Minister Dato’ Sri Najib Tun Razak’s concerns and high expectations of the QIP.

He said this when speaking at the first meeting of the QIP Joint Steering Council held on November 26 in Beijing, stressing that QIP offers the best platform for Malaysian entrepreneurs to invest in China and they should fully explore the opportunities there.

He said once the infrastructure development of the industrial park is completed and operational, Malaysia would go all out to woo investors to invest in the park.

The first meeting of the QIP Joint Steering Council was jointly chaired by Tan Sri Ong and Mr Wang Chao, Chinese Vice Minister of Commerce. The meeting heard progress reports on the development of QIP and discussed related issues on the joint-venture project. They included the structure of the QIP Joint Steering Council, the overall development approach and direction, related rules and principles and other important tasks.

A five-year plan to build a co-operation model

The Chinese Premier Wen Jiabao and Malaysian Prime Minister Dato’ Sri Najib met on the sideline at the 2012 Asean Summit in Phnom Penh during which they both stressed the important role of QIP and the Malaysia-China Kuantan Industrial Park (KIP)  in the trade and economic relationship between the two countries. They also suggested a five-year plan of trade and economic co-operation to ensure the success of the twin parks.

The QIP Joint Steering Council unanimously agreed to the suggestions by the leaders of the two countries and pledged to realise their visions in making QIP a model of success to showcase economic co-operation between China-Malaysia and China-Asean nations.

Those who attended the meeting included on the Chinese side Mr Lan Tianli, Vice Governor of Guangxi Zhuang Autonomous Region, Mr Liu Yajun, Director-General of the Department of Foreign Investment Administration, Ministry of Commerce, Mr Liu Shusen, Director-General of the Department of Commerce of Guangxi Zhuang Autonomous Region, and on the Malaysian side Mr Wong Seng Foo, Senior Director of Ministry of International Trade and Industry, Dato’ Hajah Mahadiah Haji Mohamad, Deputy State Secretary of Pahang State Government, Dato’ Jebasingam Issace John, CEO of East Coast Economic Region Development Council, Tan Sri Tiong Hiew King, Chairman of Rimbunan Hijau Group and  Dato’ Voon Tin Yow, Deputy President / COO of SP Setia Group.

In his speech, Mr Wang welcomed Tan Sri Ong and the Malaysian delegation to Beijing to attend the meeting which signaled a new stage in the development of QIP and officially activated the operation of governmental co-operative mechanism of the joint-venture industrial park.

Preferential treatments for QIP investors

Mr Zhang Xiaoqin, leader of QIP Joint Working Group (China), tabled a report on the progress of development on QIP and the next stage of development. He pointed out that QIP would in an appropriate time make detail study on the central government’s preferential policies to support the development of QIP, to provide further incentives for investors and to further facilitate trade operation, as well as to lend support to major science and technology projects in line with QIP’s master plan to encourage well established enterprises from both sides to invest in QIP. The report was adopted and the meeting agreed that with the strong support of the Chinese and Malaysian governments, the development of QIP would meet all the targets to become a prosperous industrial and urban development hub, a development model of sustainable co-operation between the two countries.

United in purpose to ensure imminent success

Tan Sri Ong said in his winding up that there bound to be differences in implementing a mega joint venture project the size of QIP in terms of mental approach and work culture. As such, there must be room to allow for adjustments and accommodations.

“We are lucky that we have a common goal in realizing the objective and mission of deepening and broadening our bilateral co-operation and raising the level of industrial development. It is not a simple task but we have achieved a lot.’

He pointed out the progress report by Mr Zhang was a testimony of the continuation of the well-known “Qinzhou speed” that would ensure the imminent success of the QIP.

Tan Sri Ong thanked the support and guidance given by the Chinese central government, the Guangxi Zhuang Autonomous Regional Government, and the Qinzhou Municipality.

He said the participation of two well-branded and well-established groups – Rimbunan Hijau Group and S.P. Setia Bhd – was a strong testimony of the aggressive, bold and responsible approach of Malaysian entrepreneurs.

Tan Sri Ong pledged all-out support to QIP to make it a huge success.

The first meeting of the QIP Joint Steering Council held in Beijing on Nov 26.
Tan Sri Ong Ka Ting (left) and Mr Wang Chao sharing a joke at a dinner after the meeting.

SOURCE: Nanyang Siang Pao, 28 November 2012.

Compiled and translated by Hoo Ban Khee.

Releated Posts