{"id":3717,"date":"2022-07-27T10:28:22","date_gmt":"2022-07-27T02:28:22","guid":{"rendered":"https:\/\/en.benalec.com.my\/?p=3717"},"modified":"2022-07-27T10:28:24","modified_gmt":"2022-07-27T02:28:24","slug":"malaysia-china-in-rm6bil-fdi-deal","status":"publish","type":"post","link":"https:\/\/www.benalec.com.my\/zh-hans\/malaysia-china-in-rm6bil-fdi-deal\/","title":{"rendered":"Malaysia, China in RM6bil FDI deal"},"content":{"rendered":"

The Star
\n27th July, 2022<\/em><\/p>\n

KUALA LUMPUR: Malaysia will collaborate in a joint venture with Chinese state-owned companies to produce palm oil products in Malaysia involving an estimated RM6bil in foreign direct investments (FDI), says Datuk Seri Ismail Sabri Yaakob.<\/p>\n

The Prime Minister said the Federal Government would continue to encourage FDI in a bid to diversify agricommodity products with high added value.<\/p>\n

\u201cFor palm products, Chinese state-owned companies will collaborate with local Malaysian companies, as well as the Malaysian Palm Oil Board (MPOB) to produce hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) in Malaysia involving FDI worth RM6bil,\u201d he said at the launching of the Malaysia International Agricommodity Expo and Summit 2022 yesterday.<\/p>\n

Organised by the Plantation Industries and Commodities Ministry, the three-day event will see industry players, researchers and academicians sharing ideas related to the industry.<\/p>\n

According to Ismail Sabri, the joint venture was expected to produce more than 1,000 job opportunities.<\/p>\n

\u201cThe establishment of the first HVO and SAF factories will be among the main initiatives to drive the country\u2019s palm oil sector towards a high technology and value-added industry,\u201d he said.<\/p>\n

\u201cCompanies from China (involved) are Shanxi Construction Investment Group Co Ltd (SCIG) and Institute of Coal Chemistry, Chinese Academy of Sciences (ICC-CAS), while the Malaysian companies are Pengerang Maritime Industries Sdn Bhd (Benalec) and Sabah Oil and Gas Development Corporation (SOGDC),\u201d he said.<\/p>\n

Ismail Sabri also pointed out that Malaysia\u2019s agricommodity sector remains firm at RM31.6bil as of February despite challenges, including bad weather.<\/p>\n

The value of commodity exports increased by 5%, which was RM31.6bil, compared to the same period last year.<\/p>\n

\u201cTowards the end of last year, the sector also achieved an export value of RM270.2bil, which is an increase of 39.7% compared to the year before,\u201d he said.<\/p>\n

He also noted that emphasis would be placed on the use of materials extracted from commodity waste in the country to drive the circular economy.<\/p>\n

This includes making biomass sources one of the main components for producing value-added products.<\/p>\n

\u201cThis will allow us to emerge as a biomass hub, which is appropriate for the country\u2019s status as the second largest palm oil producer and biggest biomass industry contributor,\u201d he said.<\/p>\n

He pointed out that Malaysia remains a pioneer in the implementation of digital certification for tropical timber products, known as the Malaysian Timber Certification Scheme (MTCS), which is recognised worldwide.<\/p>\n

\u201cIn fact, products from Malaysia had been used in the building of Japan\u2019s National Stadium for the Tokyo Olympics 2020,\u201d he said.<\/p>\n

Malaysia, as one of the largest rubber and high quality rubber products exporters, would continue to diversify its products and turn them into high value items, he said.<\/p>\n

\u201cI hope that the agricommodity sector will continue to boost the country\u2019s economy and bring stability to the people\u2019s economy,\u201d he added.<\/p>\n

On food security, the government realises that the whole world, including Malaysia, are facing challenges due to global economic and geopolitical crises, as well as climate change.<\/p>\n

\u201cThis development will affect the food chain supply as some countries have stopped exporting food materials for the needs of animal livestock,\u201d he said, adding that the government encourages the use of palm kernel dregs as raw material alternatives for animal feed.<\/p>\n

Source: https:\/\/www.thestar.com.my\/news\/nation\/2022\/07\/27\/malaysia-china-in-rm6bil-fdi-deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Star 27th July, 2022 KUALA LUMPUR: Malaysia will co […]<\/p>\n","protected":false},"author":4,"featured_media":2356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[40],"tags":[],"_links":{"self":[{"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/posts\/3717"}],"collection":[{"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/comments?post=3717"}],"version-history":[{"count":1,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/posts\/3717\/revisions"}],"predecessor-version":[{"id":3728,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/posts\/3717\/revisions\/3728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/media\/2356"}],"wp:attachment":[{"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=3717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=3717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benalec.com.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=3717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}