Projects under MOUs signed in China will get going very soon, says Anwar

Projects under MOUs signed in China will get going very soon, says Anwar

04 Apr 2023

The record RM170bil in investment deals inked under 19 memorandums of understanding (MOUs) between Chinese and Malaysian businesses are not just for show, says the Prime Minister.

“(China) Premier Li Qiang and I decided not to entertain nine other proposals… (that) did not have a specific time frame to launch by year’s end or at least early next year,” Datuk Seri Anwar Ibrahim said in reply to Fong Kui Lun (PH-Bukit Bintang) in the Dewan Rakyat on Tuesday (April 4).

“It was decided that the MOUs will be monitored by both nations, in particular by the International Trade and Industry Ministry (Miti) and Li Qiang in China,” he added.

Fong had asked if the MOUs would be translated into action and were not signed in front of the leaders merely for show.

He also asked if a special committee would be set up to monitor the implementation of projects under the MOUs.

Anwar cited the MOUs between Zhejiang Geely Holding Group Co and Rongsheng as examples of projects that will be launched soon.

He said Geely and Proton (DRB-Hicom Bhd) have agreed to launch the jointly-developed automotive high-technology valley in Tanjung Malim, Perak for new energy vehicles early next month.

“Representatives from Rongsheng visited us two weeks ago for discussions,” he said, adding that Li Qiang himself mentioned the company during Anwar’s recent trip to China.

Rongsheng will be involved in the development of a petrochemical project in Pengerang, he said.

He said the expected investments would create about 35,000 jobs for locals as well as training programmes for workers.

Anwar’s official trip to China from March 29 to April 1 saw the Prime Minister meeting up with Chinese President Xi Jinping and witnessing the signing of 19 MOUs with his counterpart Li Qiang.

The MOUs were investment commitments covering several fields such as green technology, digital economy, automotive, transport, and electronics and electrical manufacturing.

Meanwhile, Anwar said the Cabinet will discuss the need for a special committee to monitor the implementation of the MOUs this Friday (April 7).

However, the Prime Minister said he was satisfied with the effort put in so far by Miti, the Malaysia External Trade Development Corporation (Matrade) and the Malaysian Investment Development Authority (Mida).

Source: The Star