Friday 29 Mar 2024
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KUALA LUMPUR (Sept 17): Penang Chief Minister Lim Guan Eng said the state hoped to capitalise on China's US$40 billion (RM170 billion) development fund to finance Penang's multi-billion ringgit infrastructure projects.

These include the RM27 billion public transport master plan and the RM6.3 billion highway and undersea tunnel project, according to Lim.
 
"Penang hopes to benefit with our major infrastructure projects from the RM27 billion public transport master plan and the RM6.3 billion highway and under-seabed tunnel project, which conforms with the objective of improving connectivity and co-operation through infrastructure construction.

"This is the right point for us to gather all the knowledge, experiences, expertise and ideas to build strategy and framework for the sake of our development along One Belt One Road (initiative)," Lim said at the Penang Hanwang Sustainable Development International Forum today.
 
According to Lim, China had in November last year, proposed the US$40 billion development fund to finance the “One Belt One Road” initiative. The scheme comprises the “Silk Road Economic Belt” and “Maritime Silk Road” programmes.

Lim said the Silk Road Economic Belt emphasised on cooperation within a global community with shared interests, responsibilities and destiny.

He said another characteristic of the Silk Road Economic Belt was its openness and inclusivity, as China's plans would be integrated with various industries to balance the concerns and interests of countries involved.

"The third characteristic is that it is a positive and pragmatic strategy, prioritising the promotion of infrastructural interconnectivity and co-operation in the areas of trade, industry, energy, finance, culture and the environment, in order to gradually build up a pattern of large-scale regional co-operation.

'The fourth characteristic is its flexibility and efficiency. Multiple co-operation models will be explored by taking into account conditions in different nations, with no single-minded pursuit of institutional-type structures, with the focus being to maximise relevance and feasibility. The idea of the joint construction of a Silk Road Economic Belt fits the development needs of the countries involved, including South-East Asia," Lim said.

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