Malaysian Prime Minister YAB Tan Sri Muhyiddin Yassin has welcomed the RMB 5.4 billion (£598 million) investment made by Chinese paper mill group Nine Dragons Paper in his country.
During a visit to meet the Malaysian Prime Minister by Nine Dragons chairwoman Cheung Yan, the Prime Minister said: “We are confident that Nine Dragons Paper being a Chinese Fortune 500 company will be an endorsement for Malaysia as a preferred investment destination.”
Nine Dragons has two facilities that it is investing into in Malaysia. This includes the RMB 1.2 billion (£133 million) it is investing in its ND Malaysia facility in Bentong, as well as opening another another mill at Banting with an investment of REM 4.2 billion (£465 million).
Cheung Yan added: “The investment environment in Malaysia is attractive. The country’s strategic location and infrastructure; established local supply chains that are well-integrated into the global value chain as well as the strength of its skilled talentpool offer an undeniable competitive advantage to our business.
“Moreover, Malaysia’s business-friendly policies such as its latest initiative of the One Stop Centre (OSC) for Business Travellers managed by MIDA to ease travel for businesses further strengthened our confidence in investing here. I am very grateful to make this investment decision based on these fundamentals. We believe governments and enterprises need to mutually support and collaborate with each other. We are ready to be part of Malaysia’s diverse industry.”