GOVT SETS UP SEC­RE­TAR­IAT FOR OBOR

Co­or­di­nat­ing body to help lo­cal com­pa­nies ‘ben­e­fit fully’ from pro­posed projects

New Straits Times - - Business -

RUPA DAMODARAN PETALING JAYA bt@me­di­aprima.com.my

ASECRETARIAT has been set up within the In­ter­na­tional Trade and In­dus­try Min­istry to co­or­di­nate in­vest­ment ac­tiv­i­ties un­der China’s One Belt One Road (Obor) ini­tia­tive.

Its min­is­ter Datuk Seri Mustapa Mo­hamed said this fol­lowed the am­bi­tious launch of the ini­tia­tive by China to re­de­fine global econ­omy.

Obor has won sup­port from more than 100 coun­tries in five con­ti­nents as well as in­ter­na­tional or­gan­i­sa­tions, with nearly 50 co­op­er­a­tion agree­ments signed on the joint con­struc­tion of the route.

Prime Min­is­ter Datuk Seri Na­jib Razak, dur­ing his work­ing visit to China re­cently, was among the lead­ers who ex­tended their sup­port for the ini­tia­tive.

“This co­or­di­nat­ing body will be re­spon­si­ble for do­mes­tic com­pa­nies, whether govern­ment-linked cor­po­ra­tions or pri­vate en­ti­ties so that they can ben­e­fit fully from the all projects that have been pro­posed.”

He was speak­ing dur­ing a visit to Me­dia Prima Bhd at Sri Pen­tas, here, yes­ter­day.

He was ac­com­pa­nied by min­istry of­fi­cials, in­clud­ing sec­re­tary-gen­eral Datuk Seri J. Jayasiri, as well as Malaysian In­vest­ment De­vel­op­ment Au­thor­ity (Mida) of­fi­cials led by its deputy chief ex­ec­u­tive of­fi­cer Datuk N. Ra­jen­dran.

Me­dia Prima chair­man Datuk Seri FD Iskan­dar, group man­ag­ing di­rec­tor Datuk Seri Am­rin Awalud­din, group chief mar­ket­ing of­fi­cer Sha­reen Ooi and The New Straits Times Press (Malaysia) Bhd chief ex­ec­u­tive of­fi­cer Datuk Ab­dul Jalil Hamid were also present.

Mustapa said nine mem­o­randa of un­der­stand­ing (MoUs) val­ued at more than RM32 bil­lion were signed be­tween Malaysian and Chi­nese com­pa­nies dur­ing Na­jib’s visit. The projects are lo­cated in Jo­hor and Sarawak.

MoUs were also signed be­tween Malaysia Dig­i­tal Econ­omy Corp Sdn Bhd, Hangzhou mu­nic­i­pal govern­ment and Alibaba (China) Co Ltd to bring Malaysia’s Dig­i­tal Free Trade Zone to the next level.

In Novem­ber last year, MoUs for projects to­talling RM144 bil­lion were signed by Malaysian com­pa­nies and their Chi­nese peers.

Mean­while, Mustapa urged Me­dia Prima, which is Malaysia’s largest in­te­grated me­dia group, to look into lift­ing the cur­rent level of creative con­tent ex­ports.

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