Malaysia's ECERDC Draws Investors From China And Beyond To ECER

KUALA LUMPUR, Sept 17 (Bernama) -- The East Coast Economic Region Development Council (ECERDC) continues to pursue its effort in drawing investors from China and beyond to the East Coast Economic Region (ECER) by taking part in the 11th China-Asean Expo (CAEXPO) 2014 in Nanning, China starting Tuesday. CAEXPO 2014 will be held for four days until Sept 19 at the Nanning International Exhibition and Convention Centre (NICEC). "At CAEXPO 2014, ECERDC is participating in the Malaysia Pavilion under the Government cluster to showcase the various investment opportunities in ECER to potential investors from China and other countries," its Chief Executive Officer Jebasingam Issace John said in a statement Tuesday. There has been a heightened increase in interest amongst China's business community towards ECER, especially with the celebration of the 40th anniversary of bilateral relations between Malaysia and China and the establishment of the Malaysia-China Kuantan Industrial Park (MCKIP), he said. "Our participation at CAEXPO is to leverage on this opportunity by working closely with the China-Malaysia Qinzhou Industrial Park (CMQIP) Administrative Committee and Cooperation Bureau to jointly promote the national-status industrial twin parks of CMQIP and MCKIP. "In addition, we will also be promoting other key industrial parks in ECER such as the Gambang Halal Park, Pekan Automotive Park, Kertih BioPolymer Park and Kuantan Integrated Biopark to potential investors at CAEXPO 2014," he said. Hailed as a premier international event for economic and trade exchanges, CAEXPO has been held annually since 2004 with the aim of promoting the China-Asean Free Trade Area (CAFTA). CAEXPO has become an important platform for friendly exchanges, business promotions and bilateral cooperation in various fields between China and Asean. Last year, the expo attracted over 52,000 trade visitors with an estimated trade value of US$1.87 billion. The Malaysian delegation to CAEXPO is led by Deputy Minister of International Trade and Industry Lee Chee Leong. This would be ECERDC’s third participation at CAEXPO since 2012. Earlier this month, ECERDC took part in the 18th China International Fair for Investment & Trade (CIFIT) and the 4th Malaysia-China Entrepreneur conference (MCEC) which were held in Xiamen, China. Blessed with abundant natural resources and a strategic location facing the South China Sea, and supported by good infrastructure and attractive fiscal and non-fiscal incentives, ECER serves as the ideal gateway for investors who are keen to tap into the Asean and Asia Pacific markets, which have a combined population of around four billion and a combined Gross Domestic Product (GDP) of US$17 trillion. Kuantan Port, located in Pahang state, which is currently being expanded into a deepwater port, will play a vital role in attracting more trade and investments into the region, thus positioning ECER as the springboard to the fast growing markets of Asia, particularly China. Once completed, the port’s throughput is expected to double to 52 million freight weight tonne (FWT) of cargo and will strengthen the location of the nearby MCKIP, as well as the Kuantan Port City. MCKIP is targeting investors not only from Malaysia and China but also those from Asean and other parts of the world. To date, MCKIP has attracted RM9 billion in investment commitments which include a RM4.2 billion steel mill project led by state-owned Guangxi Beibu Gulf International Port Group of China, and another RM3.0 billion by Kuantan Port Consortium SB, consisting of IJM Corp and Beibu Gulf Holding (Hong Kong) Co Ltd. A further RM2.5 billion is by the Master Developer of MCKIP, Malaysia China Kuantan Industrial Park Sdn Bhd, which is a joint venture between Malaysian consortium Kuantan Pahang Holding Sdn Bhd and China consortium Guangxi Beibu Gulf Asean Investment Co Ltd. Other China's investors in ECER include the Shougang Group which has formed a joint venture company with Malaysia’s Hiap Teck Venture Bhd known as Eastern Steel Sdn Bhd, as well as Ji Kang Dimensi Sdn Bhd and Global Goldenway Bio Tech Sdn Bhd. Since 2007 to date, total investments in ECERDC amount to RM63.58 billion, which have created over 65,000 job opportunities. Of this amount, RM10.6 billion is from China. -- BERNAMA