China invests 10 billion USD in Malaysia seaport
China’s investment of 10 billion USD in Malaysia’s Malacca Gateway project can spur the growth of seaports in the country to be on a par with habours in the region.
Malacca Gateway project (Source: The Star)The investment came after Malacca state of Malaysia and China’s Guangdong province signed a memorandum of understanding last September.
Earlier, Liow accompanied his Chinese counterpart Yang Chuantang on a tour of the Pulau Melaka region on November 7.
He said Malaysia expected to benefit from China’s technologies in upgrading and developing deep-water seaports through technological transfer.
Spanning 246 hectares, the project is set to become the largest private marina in Southeast Asia upon completion by 2025 with 12 precincts, including residential, commercial, cultural, entertainment and lifestyle elements.-VNA
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