PM Anwar to chair meeting on Chinese companies' investments in Malaysia

Anwar, who is also the Minister of Finance, said that the matter was decided in the Cabinet meeting he chaired today, following the decision of giant Chinese companies to invest in the country.

"We will go down to discuss with the relevant state governments which received large investments from China," he said in a press conference, after chairing the Cabinet meeting today.

Anwar also asked the state governments involved in investment projects from China to speed up the investment-related processes.

"The state governments and the municipal councils should ensure that the (related) processes are expedited, so that it does not pose a problem for the companies, however, the regulations must be fully adhered to.

"All studies from relevant departments must be completed first, but don't take too long because the current situation requires more vigorous investment," he said.

Anwar said that the investment projects from China, involving Zhejiang Geely Holding Group (Geely) and Rongsheng Petrochemical Co., are expected to start by May at the latest.

Geely's investment projects are in Pahang and Tanjung Malim, Perak, while Rongsheng's projects are in Pengerang, Johor and Terengganu.

"Two major companies, Geely and Rongsheng, are planning to visit Malaysia for follow-up... to make sure their projects take off early," he said.

During Anwar's recent official visit to China, Malaysia received the highest investment commitment in history, amounting to RM170 billion from Chinese investors, as a result of the signing of 19 memorandums of understanding between Malaysian and Chinese companies.