Malaysia expects more investment from China

KUALA LUMPUR - Malaysia expects more investment from China in 2013, notably in the manufacturing sector, senior government officials said Wednesday.

The investments will mainly go to the newly launched Malaysia- China industrial park in Kuantan of Malaysia's Pahang state, said International Trade and Industry Minister Mustapa Mohamed in a press conference.

500 more acres maybe added to the 1500-acre Kuantan Industrial Park, another boost to the already thriving economic ties between China and Malaysia, Mustapa said.

There are potential investments from China in aluminium, iron and petrochemical production, Mustapa told reporters. Meanwhile, Chinese companies are involved in the renovation work of Kuantan port, a complementary project to the industrial park.

According to Malaysian Investment Development Authority (MIDA), approved foreign investments in the manufacturing sector of 2013 in the country amounted to 20.8 billion ringgit ($6.7 billion), 64 percent of which are from Asian countries. Investments from Chinese companies in the sector stood at 1.978 billion ringgit, ranked after Japan, Saudi Arabia and Singapore.