MCKIP generates RM31bil in foreign investments

UP until last month, the Malaysia-China Kuantan Industrial Park (MCKIP) has generated RM31bil in foreign investments in 21 projects, says Deputy Investment, Trade and Industry Minister Liew Chin Tong.

He said the 21 projects are expected to create over 14,000 jobs in the country.

“From that amount (of foreign investments), RM14.6bil from investments in the MCKIP has been realised.

“To fulfil increasing demand, the industrial area at the MCKIP has been expanded from 1,200 acres (486ha) to 3,500 acres (1,416ha),” he said.

The MCKIP, he said, would mark its 10th year anniversary this year.

Liew said the MCKIP and the China Malaysia Qinzhou Industrial Park, developed in 2013 and 2012 respectively under the concept of “Two Countries, Twin Parks”, had strengthened economic ties between the two countries.

“Now, the MCKIP is the main economic growth engine in the east coast region.

“It has created job opportunities for locals,” he added.

Liew also said the ministry is always monitoring the suitability and impact of domestic and international investments to ensure that they were in accordance to policies set under the National Industrial Master Plan 2030 that was launched in September.

Besides that, Liew said the National Investment Council and the National Committee on Investments were set up to spearhead strategic development of the national investment ecosystem.

“This committee plays an important role to ensure that only high-value foreign investments and those in line with the country’s investment goals will be approved,” he said in reply to Wan Fayshal Wan Ahmad Kamal (PN-Machang) who wanted to know about the government’s stance on Chinese investments in Malaysia.