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New Impetus, New Opportunity and New Development — China (Guangxi) Pilot Free Trade Zone(CFTZ) promotes the leapfrog development of China-Malaysia Qinzhou Industrial Park(CMQI)

2020-06-29 10:53:22   By:   Hits:

“Without ‘Two Countries, Twin Parks’, CFTZ will lose its lusters; without the support of CFTZ, “Two Countries, Twin Parks” cannot achieve great development.” On June 18, the leading group of CFTZ held a plenary meeting, in which Lu Xinshe, Secretary of the Party Committee of Guangxi Zhuang Autonomous Region, emphasized the importance of “Two Countries, Twin Parks” to CFTZ. 

On June 22, the Work Management Committee of Qinzhou Port Area of CFTZ was listed. Xu Yongke, Secretary of Qinzhou Municipal Committee and Secretary of Qinzhou Port Area of CFTZ, stressed that “Two Countries, Twin Parks” is the most important highlight of CFTZ. We should boldly explore the transnational free trade, financial cooperation and ASEAN-oriented cooperation in areas such as culture, education and health care under “Two Countries, Twin Parks”. CFTZ has provided new impetus for the cooperation of “Two Countries, Twin Parks” between China and Malaysia and promoted the leapfrog development of CMQIP. 

CFTZ to Energize the Development of CMQIP

Eight-year efforts of CMQIP      

On April 1, 2012, the then prime ministers of China and Malaysia went to Qinzhou to lay the foundation for the opening of CMQIP. On February 5, 2013, Malaysia-China Kuantan Industrial Park (MCKIP) opened. After eight years of development, “Two Countries, Twin Parks” have gradually developed from a barren land to an important platform for China, Malaysia and even ASEAN to carry out cooperation on international production capacity.

CFTZ will inject new impetus into the CMQIP

In August 2019, the State Council approved the establishment of China (Guangxi) Pilot Free Trade Zone (CFTZ). CFTZ covers areas in Nanning, Qinzhou Port and Chongzuo, and 16.05 square kilometers of CMQIP is included in the Qinzhou Port Area.

"The establishment of Qinzhou Port Area in CFTZ will bring great historical opportunities for the development and construction of CMQIP,” commented Dato’ Beh Hang Kong, Vice Chairman and Director of China-Malaysia Qinzhou Industrial Park (Guangxi) Development Co., Ltd (hereinafter referred to as CMQIP (Guangxi) Company) on the opening ceremony of Qinzhou Port Area. He expressed that the construction of CFTZ will bring very far-reaching impact on “Two Countries, Twin Parks” and CMQIP (Guangxi) Company. As the main body of the overall development and operation of CMQIP, CMQIP (Guangxi) Company will firm investment confidence, speed up project construction, and actively promote the interactive development of CMQIP and MCKIP.

The prospects here are rosy 

Since its unveiling last year, the economic and social development of Qinzhou Port Area has made a good start. In the last five months of this year, the gross industrial output value of Qinzhou Port Area has reached RMB 21.77 billion yuan, fixed assets investment reached RMB 6.13 billion yuan, and fiscal revenue completed RMB 3.6 billion yuan, showing a strong momentum of economic development.

CFTZ to Energize the Development of CMQIP

Jing Yan (Guang Xi) Birdnest Limited Company is a foreign-funded enterprise in CMQIP invested by Malaysian entrepreneurs, mainly engaging in the production, processing and sales of cave bird’s nests. Its Chairman Ho Chung Meng said, “We can see a series of positive changes brought by the Belt and Road Initiative and the construction of CFTZ, as well as the great support for the enterprises settled in Qinzhou Port Area.”

CFTZ to Energize the Development of CMQIP

The President of CMQIP (Guangxi) Company Phua Lan Tat pointed out, as a joint venture, the company has taken advantage of the vast development space created by the establishment of the Qinzhou Port Area, and actively played as a bridge between China and Malaysia in the field of economic and trade cooperation. Meanwhile, it will develop CMQIP and Qinzhou Port Area in deep processing of palm oil, wool and promote the downstream value of bird’s nest with the advantageous resources brought by the Malaysian shareholders, Rimbunan Hijau Group and SP Setia Berhad. Besides, the company will take full participation in the city development and construction of Qinzhou Port Area, accelerating the project of “Two Countries, Twin Park” and the development of Qinzhou Port Area. 

 

Source: China-Malaysia Qinzhou Industrial Park

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