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Last year alone, the trade volume between China and Malaysia was valued at about USD97.4 billion.
China’s investment in Sarawak since 2004 totalled over USD2 billion and has increased over the years, said Minister for Industrial and Entrepreneur Development, Trade and Investment Datuk Amar Awang Tengah Ali Hasan when attending the opening ceremony of China International Fair for Investment and Trade (Cifit) in Xiamen of Fujian Province in China yesterday.
He said the most recent investments include Comtec Solar Systems Group Ltd at the tune of RM1.2 billion for manufacturing solar ingots and wafer slicing while Xi’an LONGi Materials Corporation is investing RM1.066 billion in an integrated manufacturing facility producing solar ingots, wafers, cells and modules at Sama Jaya High Tech Park here.
In agriculture, Guangken Rubber Group Co. Ltd. from Guangdong formed a joint venture with Sarawak farmers’ organisations to establish the US$20 million Standard Malaysia Rubber (SMR) factory in Debak, Sri Aman Division, he pointed out.
In Sarawak’s power sector, Sinohydro Corporation and Yangtze Three Gorges Technology and Economy Development Co. Ltd. were involved in the construction of the state’s hydropower dams, whereas China Machinery Engineering Corporation was the EPC (engineering, procurement and construction) contractor for
its coal fired power plants at Sejingkat and Mukah, and a combined cycle power plant at Bintulu, he said, adding that Shanghai Electric is the EPC contractor for Balingian coal fired power plants.
Awang Tengah, who is also Second Minister for Resource Planning and Environment, said: “Sarawak is blessed with rich natural resources such as our tropical forest and its biodiversity, oil and gas, vast tracks of arable land and hydropower potential.”
He said Sarawak welcomes investments in areas such as energy intensive industries
such as polycrystaline silicon, ferroalloy, steel, glass and related downstream industries; shipbuilding; halal related industries at Tanjung Manis Halal Hub — food production and processing, aquaculture, pharmaceutical, health products and cosmetics; high tech industries in electrical and electronic; property and real estate development; downstream processing and production of timber-based industries and furniture; oil and gas industries such as petrochemical industry; oleochemical industry; and services industries such as tourism (CAN).
Cifit is currently China’s only international investment promotion event aimed at facilitating bilateral investment. It is also the largest global investment event approved by the Global Association of the Exhibition Industry. Cifit has the following major components: investment and trade exhibition, the International Investment Forum (IIF), a series of seminars on hot investment issues, and investment project matchmaking symposia.
Themed ‘Introducing FDI’ and ‘Going Global’, Cifit focuses on nationality and internationality, investment negotiation and investment policy promotion, coordinated development of national and regional economy, as well as economic and trade exchanges across the Taiwan Strait.
Apart from Awang Tengah, other members of the Sarawak delegation attending Cifit were Assistant Minister for Resource Planning and Assistant Minister for Entrepreneur Development Datuk Mohd Naroden Majais; Assistant Minister for Rural Economy (Coastal Areas) and Fisheries and Assistant Minister for Investment And Promotion Datuk Julaihi Narawi; permanent secretary to the Ministry of Industrial and Entrepreneur Development, Trade and Investment Datu Liaw Soon Eng and Sarawak Timber Industry Development Corporation general manager Datu Sarudu Hoklai as well as several senior government officials and representatives from the state’s private sector.
Awang Tengah was representing Chief Minister Datuk Patinggi Tan Sri Adenan Satem at the event upon the invitation of the government of Fujian Province.
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