KUALA LUMPUR: Malaysia is set to step up its efforts to bring in foreign investment ahead of Thailand's proposed land bridge project, says Tengku Datuk Seri Zafrul Abdul Aziz.
The Investment, Trade and Industry Minister said it was still too early to determine the impact the land bridge may have on Malaysia due to the lack of details surrounding the project currently.
However, he noted that Malaysia's ports would not necessarily be as heavily affected by the land bridge due to differences in transportation methods.
“While the land bridge will allow cargo to bypass Malaysia, this will likely bring about its own pros and cons.
“At the end of the day, you will still need to do both land and sea,” he said to the press after launching E-Mobility Asia (EMA) 2023 trade show at Kuala Lumpur Convention Centre Wednesday (Nov 22).
On Nov 14, Thai Prime Minister Srettha Thavisin had proposed a one trillion Baht (100 Baht = RM13.08) land bridge project to investors in the United States, promoting the shipping route shortcut as a cheaper, faster, and safer alternative to the Melaka Straits.
When asked on preemptive steps the government may take, Tengku Zafrul said the government had agreed to speed up the launch of its Invest Malaysia Facilitation Centre (IMFC), which will serve as the one-stop centre for investment-related matters.
“We originally planned to launch it in January but have instead decided to move the launch date to next Monday at the request of Prime Minister Datuk Seri Anwar Ibrahim,” he added.
