Saturday, June 20, 2015

Malaysian firms welcomed to invest in China’s Lanzhou bonded zone

BEIJING: Malaysian-run Massino Resources (M) Sdn Bhd hopes to draw some 300 Malaysian companies to invest in the newly established International Brand Centre (IBC) in west China’s Lanzhou New Area Comprehensive Bonded Zone, Gansu province.

IBC, the five-storey commercial building covering 24,430 sq m, is aimed at bringing in quality foreign products, such as halal products, luxury products, cafe restaurant, franchise brands, bird’s nest, fast-moving consumer goods (FMCGs), home appliances, green energy products, automotive products and textiles, said Massino Resources managing director Sim Yuqi.

The company had poured in some 200 million yuan (about RM121mil) into the IBC and expected to generate an annual return of two billion yuan (RM1.21bil), he told Bernama after signing an agreement with Lanzhou New Area Bonded Zone Development Co Ltd, represented by its person-in-charge Sun Xiaowei, here on Friday.

The signing was witnessed by Malaysian Investment Development Authority (Mida) consul (investment) Simon Lee Yew Weng and Lanzhou New Area Committee deputy director Wang Hui.

Despite hoping for more foreign investors to invest in the IBC, we are looking forward to dealing with Malaysian authorities, including the Islamic Development Department Malaysia (Jakim) over Malaysian halal products, Sim said.

The 50-year-old Malaysian, who has been residing in China for about a decade, said he hoped to receive assistance from the Malaysia External Trade Development Corp (Matrade) to introduce more Malaysian products into the bonded zone.

Construction of the IBC commercial building is expected to be completed in October this year, while operations would begin by year-end.

Also present were agriculture counsellor at the Malaysian Embassy in Beijing Aszmy Mahmood Yusof Mohamed and the embassy’s second secretary (economy) Kiew Chia Meng.

Earlier, Wang said in his opening speech that the Lanzhou New Area comprehensive bonded area had attracted 305 projects with a total investment value of 380 billion yuan (RM230bil).

The 3.39 sq km Lanzhou New Area, whose establishment was approved by the State Council, China’s cabinet, on July 15 last year, aims to become an inland import and export distribution centre, industrial clustering area and strategic economic centre in Middle and West Asia.

It also aims to become an important industrial base covering electronic information, petrochemical engineering, bio-medicine, high-end equipment manufacturing and agricultural product processing. - Bernama

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