KUALA LUMPUR, 9 SEPTEMBER 2014: The East Coast Economic Region Development Council (ECERDC) is further promoting investment and trade opportunities in the East Coast Economic Region (ECER) by participating in the 18th China International Fair for Investment & Trade (CIFIT) and the 4th Malaysia-China Entrepreneur Conference (MCEC) which are being held in Xiamen, China from September 8 until September 11.
The Malaysian delegation is led by YB Tan Sri Ong Ka Ting, the Prime Minister’s Special Envoy to China. ECERDC was led by its Chief Executive Officer, YBhg. Dato’ Jebasingam Issace John, who also presented a paper at the MCEC event today entitled “Investment Opportunities in the East Coast Economic Region (ECER), Malaysia”.
CIFIT is organised by China’s Ministry of Commerce, where it focuses on emerging markets and showcases a comprehensive collection of high-end exhibitions, forums and business matching seminars. On the other hand, MCEC is organised by the Malaysia-China Chamber of Commerce (MCCC) and is endorsed by the Ministry of International Trade and Industry (MITI), Malaysia.
“ECERDC’s participation at CIFIT and MCEC is to further strengthen, leverage and explore strategic partnerships and collaboration opportunities between the business communities, given the rapidly growing interest in ECER among the Chinese investors,” said Dato’ Jebasingam Issace John in Xiamen today.
He said ECER is strategically located as the investment gateway for investors from China and beyond who are keen to tap into the lucrative ASEAN, the Far East and Asia Pacific markets, leveraging on the strategic location of the expanded Kuantan Port.
“Facing the South China Sea, the newly expanded Kuantan Port is well positioned to serve as a world class multi-purpose port for these markets, which have a total population of approximately 4 billion and a combined GDP of 17 trillion US dollars,” Dato’ Issace noted
CIFIT, hailed as the largest global investment event, is an ideal venue to promote ECER and its various industrial parks, including the Malaysia-China Kuantan Industrial Park (MCKIP), and the Gambang and Pasir Mas Halal Parks to both the Chinese and international business communities.
“MCKIP is indeed significant as it is the first industrial park in Malaysia to be jointly developed by both Malaysia and China, and to be accorded the National Industrial Park Status. Together with its sister park, the China-Malaysia Qinzhou Industrial Park (CMQIP), MCKIP signifies a key milestone in the strong economic and trade ties between both nations. We welcome all investors to ECER,’’ he said.
China is the global economic leader and it is currently the biggest trading partner for Malaysia. The establishment of MCKIP is expected to enhance bilateral trade ties which also would augur well for better geo-politics of the region vis-à-vis China and ASEAN.
Malaysia is one of the easiest countries in the world for investors to do business. It was recently announced that Malaysia has improved its ranking in the Ease of Doing Business Report 2014 by World Bank to 6th spot in 2014 from 12th place last year, joining countries like Singapore, Hong Kong, New Zealand and Denmark.
Since 2007 to date, total investments in ECERDC amounted to RM63.58 billion, which have created over 65,000 job opportunities. Of this amount, RM10.6 billion is from China.
Last year, 53 countries took part in CIFIT with a total of 55,296 Chinese participants and 15,173 international delegates.
Meanwhile, over 1,500 participants are expected to attend the MCEC, themed “Business Flourishes with Maritime Silk Route”, including 500 participants from Malaysia. The idea of the Sea Silk Road was first mooted by the Chinese President, Xi Jinping, when he visited Malaysia in 2013.
