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New Park Boosts Ties - 02 April 2012


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NEW ERA: Malaysia, China to also build industrial zone in Gebeng, Pahang
 
PRIME Minister Datuk Seri Najib Razak and his Chinese counterpart, Wen Jiabao, yesterday jointly launched the China-Malaysia Industrial Park in Qinzhou (QIP), marking a new era in economic ties between the two countries.
 
Both leaders lauded the project, which took off in record speed, as landmark and iconic, prompting Najib to propose, to which Wen supported, a similar park in Gebeng, Pahang, to cement Malaysia-China business ties.
 
Quoting a Chinese proverb, Najib said “one generation plants the trees, another gets the shade”, as future generations stood to benefit from QIP.
 
“I have no doubt it (QIP) will make a significant contribution to the development of what is already an important regional economic hub.”
 
Wen said its success hinged largely on the mutual trust and strong friendship between China and Malaysia.
 
“Today, we have sowed a new seed of hope and promise for better things to come for both countries.”
 
Wen, who thanked Najib for making the trip here, said Malaysia and China had always  placed great importance on   mutual friendship and cooperation.
 
Describing  QIP as a significant milestone in China-Malaysia relations, Wen said he expected economic cooperation and investment between the two countries to continue to grow.
 
It was Wen who mooted   QIP when he visited Kuala Lumpur in April last year.
 
“The extraordinary speed with which the dream has become a reality is a testament to the vibrancy, energy and commitment on both sides and to the ever broader and deeper economic ties between our nations.”
 
Covering 55 sq km and located next to the Qinzhou Free Port, 150km from Nanning,  QIP is jointly undertaken by Qinzhou Development (Malaysia) Consortium Sdn Bhd and China’s Qinzhou Jingu Investment Co Ltd.
 
The Malaysian consortium comprises Rimbunan Hijau Group and SP Setia Bhd Group.
 
The park will have three stages. The first phase, covering 7.78 sq km, will focus on the development of residential areas, industrial factories, offices and commercial buildings with an expected investment of about RM1 billion. 
 
Najib said that it would not be long before companies from  Malaysia and Asean would do business in  QIP, either operating on their own or   with Chinese counterparts.
 
He congratulated Rimbunan Hijau Group and SP Setia Group and their Chinese partners for starting the project at record speed, just five months after Najib and Wen
agreed to its implementation in October.
 
Noting that relations between Malaysia and China were at its strongest, Najib said economically, both countries were making significant strides, with bilateral trade increasing five-fold over the past 10 years.
 
China is Malaysia’s biggest trading partner, with trade volume amounting to more than US$54 billion (RM165 billion) this year.
 
Najib told Malaysian media that the proposed Malaysia-China Industrial Park would be built on a 600ha site in Gebeng.
 
He said Wen had agreed in principle to the proposal and that the project was expected to take off as soon as possible.
 
Source: NST Online


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