China-Malaysia Qinzhou Industrial Park attracts RM19.3bil investments

  • Economy
  • Tuesday, 14 Mar 2017

NANNING: The China-Malaysia Qinzhou Industrial Park (CMQIP) here has so far confirmed over 50 industrial projects with a total investment value of close to 30 billion yuan (RM19.3bil).

Prime Minister’s special envoy to China Tan Sri Ong Ka Ting said they are very encouraged by the fact that the park – set up as a government-to-government project – has attracted advanced, high-technology companies.

“The ‘two countries, twin parks’ model is one-of-its-kind in the world, with commitments from both governments to ensure its success.

“We are very encouraged by the fact that the CMQIP has attracted advanced, high-technology companies and we have more confidence now in showcasing the park to the people of Malaysia, Asean and the world,” he said.

Ong led a delegation to visit the park in Guangxi province in southern China yesterday, during which it was learnt that basic infrastructure for the 7.87sq km start-up area was already in place.

CMQIP’s sister park is the Malaysia-China Kuantan Industrial Park in Kuantan.

Construction of CMQIP began in 2013 following the launch by Prime Minister Datuk Seri Najib Tun Razak and then Chinese Premier Wen Jiabao in 2012.

Guangxi Zhuang autonomous region vice-chairman Zhang Xiaoqin said the park’s current progress fulfilled the goals of “laying the foundation in three years and reaping the results in five years”.

CMQIP administrative committee executive deputy director-general Gao Pu said 73% of land reserved for industries in the start-up area had already been taken up by interested parties.

More businesses, he said, were expected to fill the remaining 7.13 sq km under the first phase.

The park will be developed in three phases, with the first phase of 15 sq km targeted to be fully developed by 2020.

Among the sites visited by the delegation were an inspection laboratory and a processing plant for the import of raw bird nests from Malaysia to China.

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) also signed a memorandum of understanding with the park’s administrative committee to streamline the development of a Malaysian cluster within the first phase.

It will be an integrated zone equipped with facilities rich with Malaysian cultural elements as well as a focus on urban development, industries, commercial area and educational, medical and financial services.

ACCCIM president Datuk Ter Leong Yap, who is also National Chambers of Commerce and Indus­try Malaysia president, pledged to promote the investment opportunities available at the park through both groups.

Ter said the park was a good window for Malaysian businesses to venture into the vast China market, especially since it enjoyed preferential policies rolled out by the Chinese government.

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

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Government , Nanning , ong , ka , ting , China , Malaysia , Qinzhou , park , industrial ,


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