Investors have committed to establish more than 50 industrial projects collectively worth nearly 30 billion yuan (RM19.3 billion) at the China-Malaysia Qinzhou Industrial Park (CMQIP) in Nanning, reported The Star.
According to Prime Minister Najib’s special envoy to China Tan Sri Ong Ka Ting, they are very bullish on the government-to-government project as some high-technology firms have pledge to set-up their business there.
“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.”
The local counterpart of the CMQIP is the Malaysia-China Kuantan Industrial Park in Kuantan.
“The ‘two countries, twin parks’ model is one-of-its-kind in the world, with commitments from both governments to ensure its success,” said Tan during a visit to CMQIP in Guangxi province on Monday (13 March).
Construction work on CMQIP started in 2013 after it was launched by PM Najib and then Chinese Premier Wen Jiabao in the previous year, but basic infrastructure for the park’s 7.87sq km start-up area has already been built.
In addition, 73 percent of the land reserved for industries in that area has already been taken up, noted CMQIP Administrative Committee Executive Deputy Director-General Gao Pu.
So far there is a remaining space of 7.13 sq km under CMQIP’s Phase I, which consists of 15 sq km, that is expected to be completed in 2020.
Meanwhile, the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) agreed to streamline the construction of a cluster dedicated to Malaysian businesses in CMQIP under its first phase.
This integrated zone will contain buildings featuring many Malaysian cultural elements. These will house companies, specialising in industries and urban development, as well as education medical and financial services.
ACCCIM President Datuk Ter Leong Yap, who is also the head of Malaysia’s National Chambers of Commerce and Industry, encourages Malaysian firms to set up a business within the cluster.
He noted that this is a good opportunity for them to expand into China’s large market, as tenants at the park enjoy preferential policies from the Chinese government.
CMQIP, which is being built over three phase, is a joint venture between China’s Qinzhou Jingu Investment Co Ltd and Qinzhou Development (M) Sdn Bhd, which consists of SP Setia and Rimbunan Hijau Group.
Image sourced from Maycham China
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