Chinese investment in Malaysia up 4-fold in 5 years, says envoy

Chinese investment in Malaysia up 4-fold in 5 years, says envoy

Bai Tian says Chinese companies have invested in 422 projects and created 73,000 jobs since the Belt and Road Initiative was introduced.

Chinese ambassador Bai Tian says cooperation between Malaysia and China will continue to grow.
PETALING JAYA:
Chinese companies have invested in 422 projects in the manufacturing sector in Malaysia and created about 73,000 jobs since the Belt and Road Initiative (BRI) was introduced.

China’s Ambassador to Malaysia, Bai Tian, said Chinese foreign direct investments in manufacturing in Malaysia had grown more than four times in the past five years.

They were also the largest source of foreign investments in the sector for three consecutive years.

“We believe that with the passing of time and the synergy between all parties, the BRI cooperation will definitely become deeper and more steady and extensive.

“The Belt and Road will become a road of peace and prosperity while opening up green development, innovation, connecting civilisations and a clean government,” he said at the Malaysia-China Outlook Forum 2019 here today.

Citing a few examples, Bai Tian said the China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park, often referred to as “Two Countries Twin Parks”, and projects such as the Gemas-Johor Bahru Railway were progressing steadily.

After “friendly consultations”, the East Coast Rail Link was also back on track, he said.

He said China Railway Rolling Stock Corp had set up its rolling stock plant in Perak, which boasted the highest technological level and largest production capacity among Asean countries.

On the automotive front, Proton was now on the verge of turning in a profit, just after a year of cooperation with China’s Geely, he said.

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