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Malaysia-China jointly launch Kuantan Industrial Park
KUANTAN: Prime Minister Datuk Seri Najib Razak and the National Committee of the Chinese People's Political Consultative Conference chairman Jia Qinglin jointly launched the Malaysia-China Kuantan Industrial Park (MCKIP) in Gebeng today.
The first industrial park to be accorded national status, MCKIP is expected to bring the relations between the two countries to greater heights as it will play a synergistic role with its sister park, the China-Malaysia Qinzhou Industrial Park in Qinzhou.
"MCKIP has already attracted investment commitments worth RM10.5 billion, creating 8,500 jobs," said Najib.
Najib said the true impact of MCKIP would be felt not just in economic terms but in the legacy it would leave on the lives of locals as the developer had committed to provide training for all levels of workforce and work with local training institutions for skills development.
He said the potential spin-offs from the 607ha MCKIP were substantial, including in downstream and processing industries; transport and logistics; training, retail and harbour-related industries.
"It promises opportunities for investors from China and beyond and will also benefit the Malaysian business community as well as the people of Pahang and the ECER," he said.
Kuantan's location on the South China Sea also offers the quickest and most direct route to the major ports of the fast-developing Guangxi Beibu Gulf Economic Region, he added.
The new investment commitments are in addition to the RM38 billion already attracted by the East Coast Economic Region (ECER) between 2007 and January this year.
It consist of RM5 billion by Guangxi Beibu Gulf International Port Group for three projects in the park, another RM3 billion by the Guangxi Beibu Gulf International Port Group and IJM Corporation Berhad in the Kuantan Port expansion project and RM2.5 billion by the Master developer which is made up of a joint venture between a Malaysia consortium and China consortium.