Located in Kuantan within the ECER Special Economic Zone, the 607-hectare MCKIP will help enhance bilateral trade between Malaysia and China. The ground breaking for MCKIP is expected to take place by end of this year.
“MCKIP is unique because it is the first industrial park in Malaysia to be developed jointly by both countries and the first bilateral project in Malaysia that will be accorded national-level status,” said Dato’ Issace.
Several target industries have already been identified for MCKIP namely, plastic and metal equipment industries, automotive components, fibre cement board, stainless steel products, carbon fibre, electric and electronics, information communication technology (ICT) and renewable energy.
In addition to MCKIP, ECERDC will also be promoting other key ECER projects at CAEXPO 2012 such as the Gambang Halal Park, Pekan Automotive Park, Kertih BioPolymer Park and Palm Oil Industrial Cluster (POIC), among others.
Since the China-ASEAN Free Trade Area came into effect on January 1, 2010, China and ASEAN have seen its trade and economic relations reaching new high and bilateral investment cooperation moving into a fast-growing period. By the end of May 2012, the total volume of two-way investment exceeded US$90 billion, while bilateral trade in the first 5 months of this year recorded a 9.2% year-on-year growth, according to MOFCOM.
ECER Malaysia already has a proven track record in attracting Chinese investors. Last year, Eastern Steel Sdn Bhd, a joint venture between China Shougang Group and Malaysia’s Hiap Teck Venture Berhad, announced its commitment to invest RM1.8 billion to build an integrated steel mill in the Kemaman Heavy Industrial Park in Terengganu.
Blessed with abundant natural resources and a strategic location facing the South China Sea, that are also supported by good infrastructure and attractive fiscal and non-fiscal incentives, ECER Malaysia serves as the ideal gateway for investors who are keep to tap into the ASEAN and Asia Pacific markets, which have a combined population of around 4 billion and a combined Gross Domestic Product (GDP) of US$17 trillion.
ECER Malaysia has attracted some RM32.7 billion worth of investments from 2007 to June 2012, of which RM12 billion was recorded in the first half of 2012.