Malaysia's Pahang State Attracted US$2.49 Billion Foreign Direct Investments In 2022

KUANTAN (Pahang, Malaysia), April 7 (Bernama) -- Malaysia’s east coast state of Pahang attracted foreign direct investments (FDIs) totalling US$2.49 billion (RM11.01 billion) last year, of which RM5.6 billion came from China, said Menteri Besar (Chief Minister) Wan Rosdy Wan Ismail. (US$1 = RM4.40)

He said the biggest contributor to FDI from China was from the expansion of Alliance Steel (M) Sdn Bhd which was the first investor in the Malaysia-China Kuantan Industrial Park (MCKIP) in addition to a subsidiary of Guangxi Beibu Gulf Iron and Steel Co Ltd.

The existence of MCKIP in Gebeng over the last 10 years has contributed RM30 billion in total investment, besides creating 10,000 job opportunities for local residents, according to Wan Rosdy.

"MCKIP is the first industrial park to be jointly developed between Malaysia and China, with the China-Malaysia Qinzhau Industrial Park (CMQIP) in China.

"We are working together to adhere to the business rules and policies of both countries as well as facilitating the business community investing in both industrial parks to ensure that the establishments run smoothly," Wan Rosdy said at a press conference after attending MCKIP's 10th-anniversary ceremony here Friday.

Transport Minister Anthony Loke Siew Fook and Deputy International Trade and Industry Minister Liew Chin Tong were also present.

The state government, according to Wan Rosdy, welcomes more FDIs, especially in the high-tech industry and in automotive and aviation research and development.

He said MCKIP's second and third construction phases are "going well' with the positive impact from the nearby East Coast Rail Line (ECRL) and Kuantan Port.

"We are willing to consider offers from those who are interested to invest in making Pahang their business destination," he said.

-- BERNAMA