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6 projects with over RM95bil China investment to be finalised, says Tengku Zafrul

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The investment, trade and industry minister says the projects have the potential to create more than 7,000 jobs for Malaysians.

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Investment, trade and industry minister Tengku Zafrul Aziz said Malaysia had managed to secure RM230 billion in foreign direct investments from January to September this year. (Bernama pic)

PETALING JAYA:
About six more projects from investments secured with China will be finalised by the end of the year, says investment, trade and industry minister Tengku Zafrul Aziz.

He said the total investment for these projects amounted to RM95.72 billion and they had the potential to create over 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 said this in response to a question by Johari Ghani (BN-Titiwangsa), who asked for updates on the RM170 billion investment secured from Prime Minister Anwar Ibrahim’s visit to China earlier this year.

Tengku Zafrul also said that several projects from China’s investment commitment in March had shown “positive development” to date, adding that the Malaysian Investment Development Authority constantly engaged with stakeholders to ensure decisions were made quickly.

Among the projects that have shown positive development are a hyperscale data campus by GDS Services Ltd, and solar panel maker LONGi’s new facility in Serendah.

“The ministry will give its full support in ensuring the investment projects are successful,” Tengku Zafrul said.

Earlier this year, China reportedly agreed to invest RM170 billion in Malaysia, the highest investment commitment China has given Malaysia.

The commitment was secured after 19 memoranda of understanding (MoUs) were signed between Malaysian and Chinese companies.

Anwar’s second working visit to China in September saw the signing of another three MoUs worth a total of RM19.84 billion between Malaysian and Chinese companies.

Answering a separate question by Zulkafperi Hanapi (PN-Tanjong Karang), Tengku Zafrul said Malaysia had managed to secure RM230 billion in foreign direct investments from January to September this year.

“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.

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