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Malaysia, China to both benefit from Belt and Road projects: deputy trade minister | Scoop
Deputy Investment, Trade and Industry Minister Liew Chin Tong speaking in the Dewan Rakyat today. – Information Department pic, November 6, 2023
News

Malaysia, China to both benefit from Belt and Road projects: deputy trade minister

Liew Chin Tong says govt will ensure only high-value investments will continue

Main Author Image
Rebekah Teo
Updated
3:01 PM MYT

 

KUALA LUMPUR – Only the Malaysia-China Kuantan Industrial Park (MCKIP) in Pahang and the China-Malaysia Qinzhou Industrial Park (CMQIP) in Guangxi province are considered as official Belt and Road Initiative (BRI) projects, said Deputy Investment, Trade and Industry Minister Liew Chin Tong (Iskandar Puteri-PH) in the Dewan Rakyat today.

He said both Malaysia and China aim to promote joint economic development and mutually benefit from the BRI projects.

“Malaysia and China have signed a memorandum of understanding to promote joint economic development in the 21st century Silk Road and Maritime Route (MOUBRI) on May 13, 2017, which marks the participation of Malaysia as one of the BRI countries.

“Since Malaysia signed the MOUBRI, the Malaysian and Chinese governments in 2019 have officially announced the first projects which are MCKIP and CMQIP as BRI cooperation projects between Malaysia and China.

“The memorandum of understanding reflects the commitment of the Malaysian and Chinese governments to cooperate in the development and strengthening of the economy between the two countries based on the principles of equality and mutual benefit,” he said in response to an original question by Wan Ahmad Fayhsal Wan Ahmad Kamal (Machang-PN).

Liew said the government will ensure that only foreign investments that are of high value, and in line with the country’s investment direction, will continue.

He added that the BRI is a long-term initiative introduced by China in 2013. – November 6, 2023

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