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Malaysia hoping to tap on China for new port investment

Malaysia hoping to tap on China for new port investment
Malaysia wants to leverage off China's One Belt One Road initiative to attract Chinese investors to its sea ports, particularly those that need to be developed into international ports, local reports said.

“Malaysia fully supports Chinese President Xi Jinping in this initiative. We would like to see their proposal on how we can benefit," said Transport Minister Liow Tiong Lai.

“We already see this as an important initiative to benefit the world, and Asean in particular,” he was quoted as saying.

China's One Belt One Road initiative comprises the land-based Silk Road Economic Belt and the ocean-based Maritime Silk Road, both of which are meant to rebuild the historical trade connections between Asia and Europe.

Liow said the focus was on ports, especially less-developed sea ports. “We have Tanjung Pelepas and Port Klang, which are mature international ports, but we have others that need more investment, like the Malacca port, and I welcome China to come to Malacca,” he said

Liow noted that Malacca needed expansion and much initiative to become an international port, and cited the example of how China’s support for the Kuantan port had helped develop it. There are plans for a railway connecting the port to the Kuantan industrial park, Kuantan town, all the way up to Kuala Lumpur and Port Klang.