KUCHING, Dec 1 – Fuzhou, the capital of Fujian Province, has attracted over 50,000 foreign investors including 99 corporations from Malaysia, said Deputy Party Secretary of Fujian Province and Communist Party Secretary of Fuzhou Guo Ningning.
At present, she said China is Malaysia’s largest trading partner while Malaysia is one of China’s leading trading partners in Asean.
She was pleased that KTS Group, the Minqing County People’s Government, and Universiti Putra Malaysia (UPM) had last Thursday signed cooperation agreements worth 2.4 billion yuan to foster economic and trade collaborations.
Signing the agreements were County Magistrate of Mingqing County People’s Government Chen Yu, UPM China Super Satellite Centre (CSSC) director Chen Yongming, and KTS Group managing director Dato Henry Lau.
The agreements that will witness economic and trade cooperation among the three parties are estimated at 2.45 billion yuan (approximately RM1.43 billion).
She said this during the ‘Fuzhou, the City of Blessings’ China-Malaysia Economic and Trade Exchange Session before witnessing the signing ceremony, according to an Oriental Daily report.
As China rolls out the implementation of the Regional Comprehensive Economic Partnership (RCEP) and follows the signing of the upgraded protocol of the China-Asean Free Trade Area 3.0, Guo said new opportunities are offered for Fuzhou, Fujian Province and Malaysia to foster closer trade ties.
She suggested that China and Malaysia join hands in going global to attract more foreign investments.
According to her, Fuzhou will proactively align itself with high standard international trade and economic rules to promote the liberalisation and facilitation of investment and trade.
She said Fuzhou will also leverage on the advantages of new business models to fully support enterprises in their efforts to embrace globalisation and secure investments.
She also hoped to see China and Malaysia collaborating to promote the integration of industrial and supply chains.
“Malaysia is rich in resources while Fuzhou has a solid foundation in manufacturing, and we can complement each other in moving forward.
“We shall focus on key areas such as digital economy, marine economy, green economy and the development of strategic emerging industries, and together we can enhance resilience and international competitiveness in the industrial and supply chains,” she said.
Guo disclosed that a host of important conferences and events such as the China Overseas Chinese Talent Development Conference, the Global Investment Promotion Conference, and the Cross-Strait Economic and Trade Fair, will be organised next year.
These events will not just showcase significant innovative achievements in related fields but also promote project-based investment, trade and economic cooperation and industrial collaboration, she said.
She invited the Malaysian government, entrepreneurs, Chinese associations and business associations to visit Fuzhou to explore opportunities for a win-win outcome.
Guo further pointed out that Fuzhou’s total economic output is US$200 billion, ranking first in Fujian Province.
It also boasts a solid industrial foundation, having formed six industrial clusters exceeding 100 billion yuan (approximately RM58 billion) each, including textiles and chemical fibres, light industry and food, machinery manufacturing, metallurgy and building materials, chemical new materials and power and new energy, she said.
In terms of aviation, Guo said Fuzhou is currently connected to 107 cities by air, with a total of 127 domestic and international routes, including Fuzhou-Kuala Lumpur.
Touching on shipping and ports, she said Fuzhou operates more than 70 domestic and international shipping routes, connecting to over 40 countries, including Malaysian ports in Penang, Pasir Gudang and Kuantan in Malaysia.
As such, she hoped that Chinese from outside China would actively take part in the development of Fuzhou, particularly entrepreneurs from Malaysia to enhance collaboration and global competitiveness.
