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Terengganu: The President of the Malaysia-China Chamber of Commerce (MCCC) Terengganu branch, Dato' See Meng Geok suggested that the first task of the new government should be to review the East Coast Rail Link (ECRL), which costs RM55 billion and is under construction by the China Communications Construction (CCCC).

Dato’ See said that the MCCC was appointed to submit a report on the ECRL project to the Council of Eminent Persons (CEP). The President of the MCCC, Tan Yew Sing, is confident that the Chinese capital will return to Malaysia.

"I believe that the Prime Minister Tun Dr Mahathir Mohamad is very clear that China's capital and investment are very beneficial to Malaysia and it is impossible to oppose Chinese investment,” Dato’ See said.

She pointed out that Malaysia should learn from China by emphasising the geographical and cultural advantages of each region, including civil strengths and the Internet when entering the local emerging industries.

“For example, Central China emphasises on manufacturing, Northeastern China area emphasises on heavy industry, Western China emphasises on big data and health products. On the other hand, ethnic minority areas emphasise on green products, and in the vicinity of Yunnan, they promote cultural tourism. They strategically divide the area," Dato’ See said this in the 2018 General Assembly yesterday.

She pointed out that Malaysia is a small country, but is rich in natural resources and has a cultural industry with three major ethnic characteristics.

“The new government can imitate China. For example, Malaysia is well-known in China after the co-operation on Malaysia-China Kuantan Industrial Park Sdn Bhd (MCKIP). Malacca has Melaka Gateway and historical sites, Ipoh has white coffee and biscuits, and Terengganu also has local Chinese culture and Redang Island," Dato’ See said.

In addition, she said, the Belt and Road can have an impact on the smooth development of the Malaysian economy, but many local entrepreneurs or SMEs do not understand.

“Although China is Malaysia’s largest trading partner, only the large enterprises benefit from the ‘Belt and Road’ Initiative. Unfortunately, many SMEs and business owners have not been able to catch the Belt and Road train because they do not understand,” Dato’ See added.

The resolutions of Terengganu branch are as follows:

  1. Support the ‘Belt and Road’ Initiative and call on the government to attract investment while paying more attention to the competitiveness and future development of local enterprises, encouraging foreign investors to purchase goods and services from local suppliers or hiring a specific percentage of local employees.
  1. Call on the government to strengthen its economic vitality and take necessary measures to deal with the impact of the sharp devaluation of the Malaysian currency on the national economy and people.
  1. Call on the government to review the development project of China's railway projects as soon as possible. It is necessary to build the East Coast Rail Link (ECRL). Terengganu has great potential for development. With railways, it can solve the problems of freight transportation and also attract tourists to improve tourism and strengthen the state’s economic development.
Source:

Nanyang Siang Pau, 27 May 2018

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