Malaysia expected to benefit from ‘One Belt One Road’ initiative

 |May 11, 2017
File pic credit The Rakyat Post.

Prime Minister Najib Razak is confident Malaysia will benefit from the implementation of the One Belt One Road initiative by China due to the country’s strategic location.

Besides benefiting from the aspect of holistic connectivity, he said the initiative could contribute to the local economic development.

“God willing, I will leave for China early tomorrow morning to attend the Belt and Road Forum which is also expected to be attended by 28 heads of other countries at the invitation of President Xi Jinping.

“This forum is an important agenda in ensuring Malaysia could enjoy the fruits of the One Belt One Road initiative which is poised to improve the national economy through a more comprehensive connectivity,” he said in a blog post on the www.najibrazak.com site today.

China unveiled its One Belt One Road initiative in 2013 as a development strategy that focuses on connectivity and cooperation among various countries.

It has two components — the Silk Road Economic Belt that will be established along the Eurasian land corridor from the Pacific coast to the Baltic Sea, and the 21st century Maritime Silk Road.

The Prime Minister will have a working visit to China from tomorrow until May 16 at the invitation of that country’s top leader.

Apart from attending the forum, Najib will also see for himself the success of Alibaba, a company in Hangzhou which has created over 36,000 job opportunities as well as changed the economic ecosystem of companies to be more dynamic and exclusive.

Najib said the experience and expertise of Jack Ma, the founder of Alibaba and currently the national digital economy adviser, was able to boost the Malaysian economy through the Digital Free Trade Zone which was launched in March.

“In boosting the stream of development and transformation, I am confident the Digital Free Trade Zone, which is projected to generate 60,000 job opportunities, will become the first digital hub outside China,” he said.

With the free trade zone, the Prime Minister is positive small and medium entrepreneurs in the country have the opportunity to access international markets more easily and increase their business returns.

“I am confident this visit will bring benefits to both countries not only from the aspects of bilateral ties but also joint ventures in terms of investment, trade and business,” he added. – Bernama