Malaysia Offered 49 Per Cent Interest In Qinzhou Project

NANNING (China), Oct 20 (Bernama) — Malaysia has been offered a 49 per cent interest in developing Qinzhou Industrial Park (QIP), about one hour 15 minutes’ drive from here.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the project was proposed by the Chinese government at the meeting between Prime Minister Datuk Seri Najib Tun Razak and his Chinese counterpart Wen Jiabao in Kuala Lumpur in April.

The 55 sq. km. park project will be developed in three phases and take 15 years to complete, with the 15 sq. km. first phase taking five years to finish. A port city near the area was completed in 2009.

“It is an area that is the closest to Asean. And they (the Chinese government) want to make it an industrial park where Malaysian companies will be actively involved.

“This shows the increasingly close relations between Malaysia and China in line with Asean’s wish to forge closer ties with China and other neighbouring countries,” he told Malaysian reporters covering the six-day China-Asean Expo which begins tomorrow.

Mustapa said he visited the area this morning with Malaysia-China Trade Council chairman Tan Sri Ong Ka Ting and officials from four Malaysian firms that have shown an interest to participate in the development.

“Their (Chinese government’s) proposal is for Malaysian firms to take a 49 per cent equity and a Malaysian company has agreed to be the lead firm,” he said.

Without disclosing the identity of the company or the four firms whose representatives were also in this morning’s delegation, he said the four are involved in property, manufacturing and services.

“We hope 10 Malaysian firms will take part in the QIP development,” he added.

— BERNAMA

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