Cabinet will decide on follow-up steps to monitor investments from China - PM

KUALA LUMPUR: The Cabinet will decide on follow-up measures including the need to establish a committee to monitor investments from China, said Prime Minister Datuk Seri Anwar Ibrahim today.

He said the follow-up measures will be discussed in a Cabinet meeting held tomorrow.

So far, investments and projects from China are monitored by the Ministry of International Trade and Industry (Miti) and by the Chinese government under the supervision of Prime Minister Li Qiang which will be implemented at the end of this year or early next year at the latest.

"We also have the Malaysian Investment Development Authority (MIDA) and the Malaysian External Trade Development Corporation (MATRADE) which are able to organise because the preparations made by the Foreign Ministry, Miti and the officers are very satisfactory, enabling us to achieve the expected performance," Anwar said while replying to an additional question from Fong Kui Lun (DAP-Bukit Bintang) regarding the establishment of a special committee to monitor investments from China in the Dewan Rakyat today.

Earlier, Anwar stated the positive results of his recent maiden visit to China in terms of economic and investment opportunities, including an investment commitment of RM170 billion obtained from the visit.

Anwar said several memorandums of understanding were signed during the visit including 12 in the service sector, 11 in the manufacturing sector and four in the infrastructure sector.

-- BERNAMA