clock 10-03-2017
hit 3,051
Chinese Investors to Bring in Whopping RM434bil

Chinese mainland investors will pour RM434bil into three mega land development projects in Malaysia.

Deputy International Trade and Industry Minister Datuk Chua Tee Yong identified the projects as Forest City in Johor, Melaka Gateway in Malacca and Bandar Malaysia in Kuala Lumpur.

"Some RM170bil in committed investment was made for the Forest City project in Gelang Patah covering 1,370ha and it will take 20 years to develop, creating 220,000 jobs" he told Datuk Seri Dr Wan Azizah Wan Ismail (PKR-Permatang Pauh).

The Melaka Gateway mixed development project will sprawl across almost 3,000ha, Chua added on Tuesday (March 7).

The project, he said, would see the reclamation of four islands to focus on tourist and commercial activities and would include a deep water port and maritime industry.

"It is expected to attract 2.5 million tourists and create 45,000 jobs" he said.

Chua said some RM200bil was expected to be invested in the Bandar Malaysia underground integrated city development concept covering 1,070ha.

He said the projects did not include China's investment in deve­loping the East Coast Rail Link and Malaysia-China Kuantan Industrial Park.

Chua also said the ministry had already approved Chinese investments totalling RM4.8bil for the manufacturing and service sectors last year.

He said the investment involved 33 projects, which could help create 10,147 jobs.

Since 2015, he said investments totalling RM6bil were realised, involving 191 projects in the manufacturing sector, creating 20,587 jobs.






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