‘The Belt and Road’ to Promote Malaysia to be Steadily Rising; to Become One of Advanced Countries in 2020

malaysia

 

600 years ago, Zheng He came to Malacca and started one of the Malacca’s historical origins, “the Belt and Road”. With the development of China’s “the Belt and Road”, bilateral trade between China-Malaysia and China-ASEAN have increased substantially while this brings more foreign investment opportunities for Malacca and Malaysia as a whole. According to an agency assessment, as Malaysia is under the impetus of steady domestic demand, GDP can grow up to 4.5% in 17 years; Malaysia hopes to enter the list of developed countries in 2020.

In order to make the economy steady, Malaysia has made a lot of efforts:

Firstly, the Malaysian government will build the International Trade and Finance Center. The financial center will be built after the success of Asia’s new financial center through a decade of tax-free to take in large amount of foreign funds. By then, there will be attracting the global 500 top businesses to enter which will solve the issue of more than 500,000 unemployment rate. The construction of the Kuala Lumpur International Trade Finance Center will drive Kuala Lumpur’s housing prices to grow.

Secondly, the duty-free shopping street from KLCC Park to Bukit Timah will be built in endeavor that it will become the world’s best duty-free shopping paradise.

Thirdly, the construction of a new high-speed rail from Kuala Lumpur to Singapore is confirmed to be built by the Chinese companies, estimated at the end of the year 2016. The construction of Singapore-KL new high-speed rail is built successfully to create a new 90-minute daily life circle and so on.

According to the assessment agency, Malaysia’s domestic demand is robust, coupled with improved outlook for external demand, such as the US economy and China’s economic rebalancing are expected to stabilize next year’s economic growth.

The Malaysian government has long recognized the role of the local community and their contribution to the economy and welcomed even more Chinese companies in the world to invest in Malaysia. They also strive to build through Kuala Lumpur at the same time to get Malaysia into the list of developed countries by the year 2020.