RM13.2 million investments likely
Published on: Monday, April 22, 2024
By: Crystal E Hermenegildus
You Ying said he believes this is a positive start for future cooperation.
Kota Kinabalu: About RM13.2 million total accumulated investments are expected from several Memorandums of Understanding (MoUs) signed between Jiangxi business companies and organisation / association with two associations and two companies from Sabah in various sectors, said Jiangxin delegation head, You Ying.
A total of four MoUs were signed at the State Ministry of Industrial Development and Entrepreneurship (Mide) office, Wisma Kewangan here, recently, while another two would be signed soon.
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A MoU involving associations are between Jiangxi Enterprise Investment and Economic Cooperation (JXAIEC) and Sabah Young Business and Industry Leaders Organisation (Sybil), regarding their appointments to handle investment matters in their respective areas.
Another MoU involving associations between the Jiangxi Province Association and the Sabah Timber Industries Association entails a collaboration between the two associations to share knowledge about timber development and trading opportunities such as through joint ventures (JVs) in the industry.
The MoU involving Tourism Technology Group and Amazing Borneo Tours and Events Sdn Bhd signified a joint collaboration in tourism development and to facilitate movement of tourists between Jiangxi and Sabah, as well as to establish a proposed direct flight routes between Kota Kinabalu and Jiangxi.
Another MoU signed between Jiangxi Free Kingdom Furniture Co Ltd and Sibling Home and Kitchen Sdn Bhd involves exchange of information and knowledge in finishing wood furniture for business purposes and sharing expertise on wood furniture development.
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You Ying, who is also Director-General of the Department of Commerce of Jiangxi Province of the People’s Republic of China, said he believes this is a positive start for future cooperation.
He said Sabah was chosen for Jiangxi to invest due to its favourable environment, scenic beauty and the strong friendship between Jiangxi and Sabah, making it an ideal investment destination.
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You Ying said Jiangxi Province would like to invest and cooperate in furniture, wood manufacturing and mining, especially in copper and silica.
“We also aim to promote agricultural products from Jiangxi Province in Sabah and would like to sell and export the products here.
“We will visit SBH Kibing, in Kota Kinabalu Industrial Park (KKIP) and introduce Jiangxi companies to invest, thereby contributing to job creation and tax revenue.
“Tourism is another area of interest. We would like to encourage our locals to travel to Sabah,” he told Daily Express after witnessing the signing of the MoUs here, last Saturday.
If basic infrastructure, such as electricity and water in Sabah are insufficient, he said Jiangxi could provide assistance and support for such development.
“We also have support from construction companies that can assist Sabah in building better infrastructures,” You Ying said. Also present was Sybil President, Ar James Wong Kein Peng.
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