you're reading...
Manufacturing & Industry

China invests heavily in Malaysia

Najib Razak and Jia Qinglin

Najib Razak and Jia Qinglin

Chinese and Malaysian companies agreed to invest 10.5 billion Ringgit ($3.4 billion) on an industrial park in the Southeast Asian nation, which will include steel and aluminum plants as well as a palm oil refinery.

This comes just a few days after the Chinese Xiamen University announced to open its first overseas campus in the Malaysian state of Selangor in September 2015.

China’s Guangxi Beibu Gulf International Port Group will jointly build the park in Kuantan with Malaysia’s Pahang state government and property developer SP Setia Bhd. (SPSB), according to a statement from the East Coast Economic Region Development Council.

Jia Qinglin, chairman of China’s top advisory body, attended a groundbreaking ceremony with Malaysia’s Prime Minister Najib Razak on Feb 5, 2013.

Jia, chairman of the Chinese People’s Political Consultative Conference, is on a four-day visit aimed at boosting business ties with the commodities-rich Southeast Asian nation.

Najib proposed building the Malaysia-China Kuantan Industrial Park after the countries agreed last year to develop a similar estate in Qinzhou in southern China’s Guangxi region. Both cities have ports.

“A distinct and competitive supply chain will emerge between them,” Najib said in a speech. “There will be cross- border movement of manufactured goods to Kuantan Port and Qinzhou Port serving as trans-shipment hubs redistributing goods to markets around the world.”

Guangxi Beibu, SP Setia and the Pahang state government will invest 2.5 billion Ringgit to develop the Malaysian park, according to the statement.

The Chinese company will spend another 5 billion Ringgit to build a steel plant, aluminum processing facilities and a palm oil refinery within the estate, plus 3 billion Ringgit to expand Kuantan’s port with IJM Corp. (IJM)

The palm oil refinery will be a joint venture with Malaysia’s Rimbunan Hijau Group, it said.

“This year, we expect more than 1 billion Ringgit of Chinese foreign direct investment in Malaysia,” Najib said, adding that the Kuantan projects should create 8,500 jobs. “Over the next five years, we expect two-way trade to reach $100 billion.”

Source: Bloomberg – “China, Malaysia Plan $3.4 Billion Industrial Park in Kuantan”

About Political Atheist

Living in South East Asia (Vietnam & Cambodia). At the ending/starting point of the more than 1000 year old SIlk Road.


2 thoughts on “China invests heavily in Malaysia

  1. Reblogged this on Oyia Brown.


    Posted by OyiaBrown | February 7, 2013, 6:02 pm


  1. Pingback: China’s Xiamen University expands into Malaysia | China Daily Mail - July 3, 2014

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Get An Australian Diploma

China Daily Mail

China Daily Mail is not affiliated in any way with The China Daily or the government of the People's Republic of China.

Enter your email address to receive an email each time an article is published, or join our RSS feed. 100% FREE.

Want to write for China Daily Mail?

Read "Contributor Guidelines" above to join our team of 68 contributors. Write news or opinion about issues in China, or post photos and video. Promote your own site.

Recent Posts

China Daily Mail Stories Have Been Featured In:

%d bloggers like this: