GOVT SETS UP SECRETARIAT FOR OBOR
Coordinating body to help local companies ‘benefit fully’ from proposed projects
RUPA DAMODARAN PETALING JAYA email@example.com
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.