Edited by: Sheera Abg Mansor
KUALA LUMPUR: Malaysia could potentially benefit in terms of attracting more Chinese investors to come to the country due to its strategic location in Southeast Asia.
International Trade and Industry Deputy Minister Dr Ong Kian Ming as quoted in Bernama said, Malaysia welcomed greater trade-economic cooperation with China and hoped the MCKIP in Kuantan, Pahang and the CMQIP in Qinzhou, China would strengthen existing ties between both countries.
Ong said the first investment project in MCKIP was an RM5.6 billion modern integrated steel mill which was completed one year ahead of schedule and is currently operational.
The investment for the steel mill according to him has translated into 3,800 jobs for local workers, and we have also welcomed Maxtrek Tyres, new investment from Guangdong’s Zhaoqing Junhong Co Ltd in MCKIP.
Meanwhile, on the expansion of Kuantan Port, which acts as a catalyst to the MCKIP’s development, Ong said phase 1 of the port’s deepwater terminal commenced operations in the fourth quarter of 2018.
He added that the port’s annual handling capacity will increase to 52 million tonnes when the new deepwater terminal (phase 2) is completed.