PUTRAJAYA: The revival of the Bandar Malaysia project is testimony to Malaysia and China’s ability to collaborate for the benefit of the rakyat, says Tun Dr Mahathir Mohamad.
The Prime Minister said the two countries enjoy a special, long-lasting bond that has been proven over the years to be of mutual beneficit.
“China has remained as Malaysia’s biggest trading partner for 10 consecutive years, with trade growing at 8.1% to RM313.8bil in the previous year, which constituted 16.7% of Malaysia’s total trade.
“Like the East Coast Rail Link project, Bandar Malaysia is pursued in the larger context of forging and underlining a long-term bilateral and trade relation between Malaysia and China.
“It is undertaken with a very clear objective, that such a project provides premium economic value to the country.
“The revised plan for Bandar Malaysia takes into consideration the government’s policy of ensuring that such a massive development project will be people-centric, add substantial value to the country’s economy and in tandem with our Shared Prosperity Vision 2030,” said Dr Mahathir in his keynote address at the signing ceremony of Bandar Malaysia at the Putrajaya International Convention Centre yesterday.
The Prime Minister witnessed the signing of the agreement to develop the project, which was inked between TRX City Sdn Bhd (TRXC) and IWH CREC Sdn Bhd (IWH-CREC).TRXC is a wholly-owned subsidiary of the Ministry of Finance (Inc) while IWH-CREC is a consortium comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CRECM).
With the signing, the RM140bil development of Bandar Malaysia, which was stalled following the 1Malaysia Development Bhd (1MDB) scandal, was officially revived.Under the revised deal, the developers will also be required to build 10,000 affordable homes as well as 34.4ha of parks and recreational areas.
Dr Mahathir said Bandar Malaysia will have a significant impact on Malaysia’s economy as it will serve as a hub for high-impact global multinationals.
Finance Minister Lim Guan Eng, in his speech, said Chinese companies such as e-commerce conglomerate Alibaba and telecommunications firm Huawei are among those that have declared an interest in opening their regional hubs at Bandar Malaysia.
Also present at the event were China’s Ambassador to Malaysia Bai Tian and China Railway Group Ltd president Chen Yun.
The development of the Bandar Malaysia project is also part of the China’s Belt and Road Initiative.
Bandar Malaysia is located at the site of the Royal Malaysian Air Force base in Jalan Sungai Besi, which is about 7km from the Kuala Lumpur city centre.
Asked later as to when the project will commence, Dr Mahathir said: “I think soon. I have asked them to start immediately because I want to see it for myself.” ( Star/ Bernama)