Malaysia Secures RM19.84 Billion Investment From China, Nanning Expo MOU’s

Prime Minister Datuk Seri Anwar Ibrahim, witnessed the exchange of three MOUs worth RM19.84 billion between Malaysian and Chinese companies in conjunction with his one-day working visit to Nanning, China.

Information shared by the Prime Minister’s Office stated the first MoU was with an estimated investment value of RM15 billion (US$5.2 billion) which was inked between Citaglobal Bhd and Shanghai Sus Environment, in which the two companies will explore the potential of cooperation in the development of waste-to-energy plants mainly in Malaysia.

While the second MoU was worth about RM2.34 billion (US$500 million) where the exchange was between PM Access World and Beibu Gulf Port Group. It involves warehousing and logistics cooperation between the two companies in support of the region’s New International Land-Sea Trade Corridor to promote economic and trade cooperation between Guangxi and Malaysia. Meanwhile, the last MoU estimated exports of RM2.5 billion are between Sime Darby Oils International Ltd and GuangXi Beibu Gulf International Port Group.

This MoU is about cooperation in building a trading and distribution center for refined palm oil and tallow in Qinzhou, China with an estimated annual transaction volume of 500,000 tons. Anwar, who is also the Finance Minister, made a one-day working visit to Nanning at the invitation of Chinese Prime Minister Li Qiang to attend the 20th China-ASEAN Expo (CAEXPO) 2023 here.

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