Chinese investments have transformed Kuantan, the capital of Pahang state, which is located on the east coast of Peninsular Malaysia.
For Mazlim Husin, chief commercial officer of Kuantan Port, the Malaysia-China Kuantan Industrial Park (MCKIP) has “changed the landscape of the whole industrial development in Kuantan.”
The park opened in 2013 and is located in the East Coast Economic Region. It covers more than 14 square kilometers and caters to heavy, medium and light industries, and features both residential and commercial facilities.
Alliance Steel, one of the biggest steelmakers in Malaysia, is based in MCKIP.
The MCKIP and the China-Malaysia Qinzhou Industrial Park in Qinzhou, are part of the “Two Countries, Twin Parks” collaboration model between China and Malaysia. This model is a concrete representation of how Chinese investments have grown in Malaysia and have helped strengthen economic ties between the two nations.
China is one of the largest foreign investors in Malaysia. Last year, China invested 28.2 billion ringgit ($6.4 billion) in the country, accounting for over 16% of Malaysia’s foreign investment revenue, according to the Malaysian Investment Development Authority (MIDA). The amount is nearly double the 14.5 billion ringgit Chinese investors posted in 2023 and is expected to create over 20,000 new jobs.
Source: China Daily
