KUANTAN: Any joint infrastructure project with China should not be perceived as merely a debt trap as Malaysia itself must play its role in maximising the project's value, says Anthony Loke.
The Transport Minister said projects such as the East Coast Rail Link (ECRL) was part of China's Belt and Road Initiative that provides opportunities for developing nations to jointly undertake infrastructure projects through China's funding.
"They have the means to give that funding. That is China's advantage today. Like it or not, China is a huge economic power now and it is also wealthy. Not every world power is wealthy.
"For us, it is a choice as it is for any government. When we sign the agreement, we must take responsibility for that commitment.
"In that, we must be smart in managing these projects. When we implement these projects, the important thing is we must maximise its value to develop our country," said Loke after attending the launch of the "Invest in China Year" (Embracing Asean) programme here on Friday (April 7).
The event was also held to celebrate the 10th anniversary of the establishment of the Malaysia-China Kuantan Industrial Park (MCKIP).
Loke said in the context of ECRL, states with the railway must utilise the project for its own interests.
"Pahang is among the states that stand to benefit the most from this project. There's MCKIP, various types of industries along the railway and also the Kuantan Port here. I hope it can be maximised," he said.
Loke said the development of infrastructure had been a crucial factor in the success of MCKIP with the construction of the ECRL and the Kuantan Port expansion project significantly enhancing the connectivity of the region and providing investors with efficient and reliable transportation options for their goods and products.
He said the ECRL was not only a catalyst for the development of MCKIP as the Federal Government was also planning for more industrial sites and logistics hubs to be built along the railway.
"In Pahang, these will not only be situated in Kuantan but also possibly at the Mentakab station in Temerloh and the Bentong station as well," said Loke, adding that the ECRL project was targeted for completion in 2026 and operational in 2027.
Also present at the event were Guangxi Zhuang Autonomous Region Communist Party of China secretary Liu Ning, China's Ambassador to Malaysia Ouyang Yujing and Pahang Mentri Besar Datuk Seri Wan Rosdy Wan Ismail.
Wan Rosdy said until 2022, Pahang had attracted RM11.01bil in foreign direct investments, where RM5.6bil of it were from China.
He said Pahang welcomes more investments from China, especially in the areas of high-technology industries as well as research and development in the automotive and aeronautics industries.
The event also saw the signing of two memorandums of understanding and five memorandums of agreement between parties from Malaysia and China.
