According to Tengku Zafrul Aziz, Minister of Investment, Trade and Industry, about six additional projects from investments with China will be completed by the end of the year.
He said the projects’ combined investment of RM95.72 billion might result in nearly 7,000 jobs for Malaysians.
“Another project worth RM3.5 billion in investments will also be finalised by 2025,” he said in a written parliamentary reply.
Tengku Zafrul remarked this in answer to a query from Johari Ghani (BN-Titiwangsa). Who wanted to know the latest information regarding the RM170 billion investment that Prime Minister Datuk Seri Anwar Ibrahim was able to obtain during his visit to China earlier this year.
Tengku Zafrul said that the Malaysian Investment Development Authority regularly communicated with stakeholders. It is to ensure decisions made fast and mentioned that a number of the projects from China’s investment commitment in March had demonstrated “positive development” to date.
The GDS Services Ltd. hyperscale data campus and the Serendah site for solar panel manufacturer LONGi are two projects that have made progress.
“The ministry will give its full support in ensuring the investment projects are successful,” Tengku Zafrul said.
China reportedly promised to invest RM170 billion in Malaysia earlier this year. It is also the largest pledge China has ever made to Malaysia.
19 Memorandums of Understanding (MoUs) signed between Malaysian and Chinese businesses in order to secure the commitment.
Anwar’s second working trip to China in September also resulted in signing three additional Memorandums of Understanding (MoUs) with Malaysian and Chinese businesses. It totaled up to RM19.84 billion.
Tengku Zafrul stated that from January to September of this year, Malaysia successfully secured RM230 billion in foreign direct investments in response to a different question posed by Zulkafperi Hanapi (PN-Tanjong Karang).
“This consists of RM23 billion from Japan, RM170 billion from China, RM24 billion from the Republic of Korea, and RM13 billion from Singapore,” he said.
According to Tengku Zafrul Aziz, Minister of Investment, Trade and Industry, about six additional projects from investments with China will be completed by the end of the year.