Malaysia finance minister lim guan eng propsocial country garden
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Country Garden Holdings (Country Garden), the parent company of Forest City Malaysia's developer and operator CGPV, recently welcomed Malaysia’s minister of finance Lim Guan Eng to its headquarters in Guangdong, China to communicate about development opportunities with benefits to both sides amidst growing Sino-Malay cooperation.

During the visit on August 18, impressed by Country Garden's innovative use of technology in transforming uncultivated land into a promising commercial hub, Lim suggested that the company considers Johor Bahru, where Forest City Malaysia located as a bridgehead to introduce more sophisticated high technology to Malaysia.

Lim's visit comes amidst growing trade and infrastructure cooperation initiatives between China and Malaysia as part of China's Belt and Road initiative, many of which benefit the Forest City development.

Earlier this year in April, Malaysian maritime services company KA Petra and Hong Kong-based port operator Hutchison Ports signed an agreement to invest more than the US $150 million in the project in the Johor Baru port waters, is billed as the "world's biggest" ship-to-ship (STS) transfer facility.

The Project is expected to contribute over RM18bil annually to Malaysia's economy and drives the agglomeration and development of warehousing, transportation, trade, finance, and other related industries in the neighbouring region.

In the same month, China and Malaysia have also renewed commitments to build the East Coast Rail Link (ECRL), which will connect the two nations via high-speed rail.

In addition, Chinese and Malaysian government agencies and technology giants have signed partnerships to increase collaboration in robotics, automobiles, intelligent manufacturing and the Internet of Things (IoT).

To make positive trade relations between the two countries grow, Malaysia’s minister of international trade and industry Darrell Leiking, noted in one of his public speeches that the Malaysia government "will make sure it will be easy for the Chinese to do business here."

Alongside growing infrastructure and trade projects between China and Malaysia, Forest City also will benefit from increased Malaysian government investment in the Johor Bahru region.

The Malaysian government plans to double the size of the Iskandar SEZ, with President Mahathir noting its importance as Malaysia's next economic hub.

The Iskandar Development Authority of Malaysia (IRDA) has also proposed the construction of a Bus Rapid Transit (BRT) network, efficiently connecting major cities in the region.

“Forest City is in a region with incredible locational advantage and immense economic potential.” Forest City Malaysia brand management general manager Zhou Jun noted, that an intelligent manufacturing industrial park will be built to attract high-tech enterprises, aiming to build a sustainable city of corporate headquarters as well as a livable community.

(30 August 2019)


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