The China-Malaysia Qinzhou Industrial Park (CMQIP) in Nanning has confirmed over 50 industrial projects with a total investment value of close to 30 billion yuan (RM19.3bil). The Park was set up as a government-to-government project. The ‘two countries, twin parks’ model is one-of-its-kind in the world.
Malaysian Prime Minister’s special envoy to China Tan Sri Ong Ka Ting (pic) said, “We are very encouraged 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. Tan Sri Ong led a delegation to visit the park in Guangxi province in southern China yesterday, during which it was learnt that basic infrastructure for the 7.87sq km start-up area was already in place.
Construction of CMQIP began in 2013 following the launch by Malaysia’s Prime Minister Datuk Seri Najib Tun Razak and then Chinese Premier Wen Jiabao in 2012. Guangxi Zhuang autonomous region vice-chairman Zhang Xiaoqin said the park’s current progress fulfilled the goals of “laying the foundation in three years and reaping the results in five years”.
CMQIP administrative committee executive deputy director-general Gao Pu said 73% of land reserved for industries in the start-up area had already been taken up by interested parties. The park will be developed in three phases, with the first phase of 15 sq km targeted to be fully developed by 2020.
The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) also signed a memorandum of understanding with the park’s administrative committee to streamline the development of a Malaysian cluster within the first phase. It will be an integrated zone equipped with facilities rich with Malaysian cultural elements as well as a focus on urban development, industries, commercial area and educational, medical and financial services.
ACCCIM president Datuk Ter Leong Yap, who is also National Chambers of Commerce and Industry Malaysia president, pledged to promote the investment opportunities available at the park through both groups. He said the park was a good window for Malaysian businesses to venture into the vast China market, especially since it enjoyed preferential policies rolled out by the Chinese government.
Source: The Star