Biz opportunities for Malaysians in OBOR’s Shaanxi

Biz opportunities for Malaysians in OBOR’s Shaanxi

KUALA LUMPUR (Wed, March 29, 2017):
China’s fastest growing Shaanxi Province multi-trillion-ringgit economy features rich resources, high technology and education, modern agriculture and tourism.

“Malaysians, including budding bumiputra entrepreneurs, must seriously consider tapping and venturing into Shaanxi’s potential business and entrepreneur opportunities,” Malaysia-China Silk Road Business Chamber president (Tan Sri) Ong Tee Keat said.

He said Shaanxi was the gateway to North-West China and was also home to five major Muslim territories.

“Shaanxi is, therefore, not only just a huge potential for business ventures and opportunities, it is also waiting for Malaysians to penetrate the Muslim market,” he said in his address at the China (Shaanxi) Enterprise Economy and Tourism Cooperation Conference.

Ong told some 400 businessmen and traders to go into joint-ventures with Shaanxi by marketing their competitive edge, complementing the bigger economic provinces in China.

“It is time to offer our ability, resources, economic and cultural traits as Shaanxi is aggressively exploring greater market share in Malaysia.

“Shaanxi is a land-locked province. Malaysia is a maritime country that can offer its natural resources to trade and forge joint-ventures (JVs),” he added.

Shaanxi is a province in China’s One Belt, One Road (OBOR) Initiative, a development strategy and framework mooted by Chinese paramount leader Xi Jinping.

OBOR focuses on connectivity and cooperation among countries between the People's Republic of China and the rest of Eurasia, comprising the land-based "Silk Road Economic Belt" (SREB) and oceangoing "Maritime Silk Road" (MSR).

The strategy is China’s latest push to seize a bigger role in global affairs, and its need for priority capacity cooperation in areas such as steel manufacturing.

It was unveiled in September and October 2013 in announcements revealing the SREB and MSR, respectively. It was also promoted by Premier Li Keqiang during the State visit in Asia and Europe.

And Malaysia’s proposed RM55 billion East Coast Rail Line (ECRL) is in line to facilitate and drive trade with OBOR.

ECRL is thus set to be OBOR’s rail connectivity not only from Malaysia but also Singapore.

At the one-day conference, the Shaanxi provincial government outlined six economic development features for Malaysian investors to go into JVs:

> Energy and Chemical Industry;

> Modern Manufacturing Industry;

> Aerospace Industry;

> Electronic Industry;

> Modern Agriculture; and

> China (Shaanxi) Pilot Free Trade Zone that is planned to further boost OBOR economic activities.