ECER TAPS INTO CHINESE INVESTMENTS

KUALA LUMPUR, Nov 2 (Bernama) -- The East Coast Economic Region
Development Council (ECERDC) sees the second World Chinese Economic Forum as a good
platform to promote the economic corridor as a globally competitive investment
destination to Chinese entrepreneurs and diaspora.

Some 500 prominent business leaders from 20 countries are participating in the
forum commencing here Tuesday, it said in a statement.

At a session on, "Charting a New Silk Road", ECERDC Chief Executive Officer
Jebasingam Issace John will be speaking about ECER as the investment gateway to
the Far East and Asia Pacific Region, with a total population of four billion
and a combined Gross Domestic Product (GDP) of US$17 trillion. (US$1=RM3.097)

The statement said ECERDC’s participation in the event follows its
investment mission to Xiamen, China, in September whereby, it had signed a
memorandum of understanding (MoU) with Xiamen Zhong Seng Oil and Grains Company Ltd
to collaborate in the development of downstream palm oil production activities in
ECER.

Another project involved a joint venture between TP Silicon Metal Sdn Bhd and
Chongqing Magnetic Foreign Co Ltd, for manufacturing activities in the Kemaman
Heavy Industrial Park in ECER. It was also approved in October.

ECERDC is also in discussions with several other potential investors from China
that have expressed an interest in the region, Jebasingam said.

Bilateral trade between Malaysia and China crossed US$53 billion last year, with
Malaysia becoming China’s largest trading partner among Asean countries.

Trade is expected to grow further between the two countries with the
implementation of the China-Asean Free Trade Area in January.
-- BERNAMA