China-Malaysia Qinzhou Industrial Park

At the construction site of the Minhe Grain and Oil Industrial Base Project, a key project under the "Two Countries, Twin Parks" initiative between China and Malaysia, located on Jinji Street, Qinzhou Port, significant progress has been made.

The project involves a total investment of 1.69 billion yuan ($230 million). In the future, this area will serve as an import, trade, and transshipment hub for palm oil and palm meal.

Currently, more than 20 percent of the site compaction has been completed, with pile foundation construction expected to commence in April and oil tank area construction to begin in May. By July, the first palm oil ship is expected to arrive at the port. The project is anticipated to be completed and put into operation by the end of 2024.

Qinzhou, strategically positioned, faces the ASEAN market and is supported by the Southwest market. The efficient transportation system ensures that raw materials transported from Kuantan Port, Malaysia, to Qinzhou Port, arrive in just four to five days, a day faster than other ports such as Dongguan and Huangpu. This advantage reduces operational costs, instilling confidence in the port's competitive edge.

The project site is located less than 1 kilometer from the port, providing a distinct advantage in transportation costs as products are distributed internationally through the canal and the New International Land-Sea Trade Corridor.

In August 2019, the China (Guangxi) Pilot Free Trade Zone was established, incorporating the China-Malaysia Qinzhou Industrial Park into the development scope of the Qinzhou Port area within the pilot free trade zone, ushering in new development opportunities for the park.

As of December 2023, the China-Malaysia Qinzhou Industrial Park has attracted 249 projects, with a total fixed asset investment exceeding 29.5 billion yuan and a cumulative foreign trade import and export volume of 35.2 billion yuan, with actual foreign investment totaling $820 million.

The China-Malaysia Qinzhou Industrial Park. [Photo/WeChat account: gh_df8bc987e060]