PETALING JAYA: The first project in China’s RM170 billion investment in Malaysia will start next month at the latest, says Prime Minister Anwar Ibrahim.
Describing this as “good news”, Anwar said the projects will serve as an impetus for even more investments in Malaysia.
“Therefore, the relevant state governments and local authorities must ensure that the processes (involving these projects) are expedited so that it would not cause problems for the companies involved.
“The regulations must be determined and complied with fully, and the necessary studies must be completed. But don’t take too long (to approve them),” he told a press conference today.
Anwar, who is also the finance minister, said he will chair a special meeting on the RM170 billion in Chinese investments to ensure that the projects are implemented effectively.
He said he and other ministers will be holding discussions with a few state governments over the investments in those states. However, he did not name the states.
On Saturday, Anwar announced that China agreed to invest RM170 billion, marking its highest investment commitment to Malaysia.
Nineteen memoranda of understanding (MoUs) were signed between Malaysian and Chinese companies during his recent four-day official visit to China.
Upon his return, Anwar described the trip as a huge success, saying several Chinese companies had agreed to make Malaysia their new regional hub, having been based in neighbouring Asean countries in the past.
He also said he will be announcing tens of billions of ringgit in investments from China in a few days’ time, involving leading Chinese companies.