Within the context of this initiative, two industrial parks were launched in April 2012. The construction area of the China-Malaysia Qinzhou Industrial Park has expanded to 25 square km, and more than 200 projects have settled there, with a total investment surpassing 190 billion yuan ($28.97 billion).
Sheng Qiuping, assistant minister at the Chinese ministry of commerce, said China stands ready to work with Malaysia to implement the Regional Comprehensive Economic Partnership (RCEP) and promote regional economic recovery, official Chinese media reported.
Lim Ban Hong, Malaysia's deputy minister of international trade and industry, said that enterprises of both countries should make good use of the initiative and exploit RCEP’s huge dividends.
The 9-sq-km Malaysia-China Kuantan Industrial Park has attracted a total investment of over 40 billion yuan for contracted projects and has created nearly 20,000 jobs.
ALCHEMPro News Desk (DS)
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