Belt & Road Initiative with Dato’ Seri Ong Ka Chuan
On the 26th March 2018, the BMCC gathered local and foreign stakeholders in a special keynote address delivered by Dato’ Seri Ong Ka Chuan (Minister II of International Trade and Industry Malaysia) to shed light on the ongoing and upcoming efforts of China’s Belt & Road Initiative (BRI), undoubtedly one of the largest infrastructure and investment mega projects in recent history.
“Since the announcement of the Belt and Road Initiative in 2013, China has been going all out to enhance economic and trade ties with many countries. From the bilateral perspective, Malaysia and China have long historical ties — the bilateral political and economic relations are at its peak. In 2013, Prime Minister Najib TunRazak and Chinese President Xi Jinping mutually agreed to upgrade the China-Malaysia ties to a Comprehensive Strategic Partnership,” Dato’ Ong Ka Chuan said.
” Malaysia and China have inked the Belt and Road Initiative MoU on Promoting Mutual Economic Development Through the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative’ on 13 May 2017 in Beijing. At this point of time, Malaysia and China have not announced any Belt and Road Initiative projects or programs. However, there are three key projects with China’s involvements that are worth mentioning today.
First, is the twin industrial parks established in Kuantan and Qinzhou. Dubbed as the Malaysia-China Kuantan Industrial Park (MCKIP) and China-Malaysia Qinzhou Industrial Park (CMQIP). The industrial parks are developed on the concept of “two countries, twin parks”. The managements of both industrial parks provide government facilitation and special incentives to investors in the selected sectors.
Second is Melaka Gateway, a mixed development with a gross development value of RM40 billion and the project is expected to create 10,000 jobs by 2020. Melaka Gateway is comprised of three reclaimed and one natural islands, which are being developed into four different clusters.
“Third, is the Xiamen University Malaysia (XMU) which is located in Salak Tinggi, Selangor. XMU is a private investment project worth RM1.4 billion. The establishment of the university campus marks a new milestone between Malaysia and China relations as it marks the first Chinese university to establish a branch in a foreign country. The first Phase has been completed and currently there are 2,622 students from Malaysia, China and the Asian region pursuing undergraduate and graduate programs. XMU aims to enroll 5,000 students by 2020,” he said.
Following the keynote address, an engaging and insightful panel discussion moderated by Andrew Sill (BMCC Chairman) was held between Datuk Zainal Amanshah (CEO, InvestKL), Tan Sri Dato’ Dr. Michael Yeoh, (Co-Founder & CEO of ASLI) and Datuk David Chua (Managing Director, DC&A Group) to much benefit of the 40 plus in attendance.
