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Signed – 4 Sabah-Jiangxi Memorandum of Understanding | Daily Express Malaysia

Signed – 4 Sabah-Jiangxi Memorandum of Understanding

Published on: Sunday April 21, 2024

By: Jo Ann Mool

Signed – 4 Sabah-Jiangxi Memorandum of Understanding

The parties sign the MoUs with James Wong (fifth from right) and You Ying (fifth from left).

Kota Kinabalu: Two Sabah companies and two associations signed a Memorandum of Understanding (MoU) with four Chinese companies from Jiangxi province on Saturday, following the business forum between Jiangxi and Sabah companies jointly organized by the State Industrial Development and Entrepreneurship Ministry (MIDE) and Sabah Young Business and Industry Leaders (Sybil). Sybil chairman Ar James Wong said the business-to-business signings were aimed at formalizing some of the intentions between private sector companies to help Sabah companies prosper together with Jiangxi companies.

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After meeting at the signing ceremony here, Wong said there are so many business opportunities with Jiangxi, which has a population one and a half times bigger than Malaysia and one of China’s food hubs and rice bowls. One of the sectors that could be looked at is agriculture, which would have good prospects with Sabah’s intention to increase food security and ensure self-sufficiency (SSL). “These are the kind of partners, the kind of knowledge transfer, the kind of companies and support that we need because they have all the knowledge. “China is one of the leading countries in rice seedling yield. They are leaders. So when you talk about investment potential, it’s up to us what we can absorb.

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It is up to us what we can actually facilitate and arrange. The investment is unlimited, if there are mutual opportunities. “They are one of the largest rice bowls. They create tons of food for all of China, they are known as the rice bowl of China,” he said.

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Wong said Jiangxi is also known for its porcelain industry and tourism as it also has a UNESCO site similar to Sabah. “That is why we invited them to come to Sabah because they match very well with our skills and capabilities,” he said. On the total investments expected from the MoUs, Wong said the specific terms and projects are yet to be identified and since it is not yet a Memorandum of Agreement, there is no specific figure yet. “These are just MoUs where both parties want to enter into a partnership opportunity with each other. Then they (on the Chinese side) will decide to take action,” he said. Asked to explain how the MoU would benefit the state in terms of the agriculture sector and improve Sabah’s SSL, Wong said the matter could be discussed with Jiangxi. “We have land, we have rich natural resources, we have beautiful environment, we have quality land, come, let us research and study together to identify certain pieces of land or areas where we can jointly do business and farm together in a partnership and synergy. “So we in Sabah can provide natural resources and beautiful land, and they can provide technology, machinery and experience. “We have so many rich natural resources that are underutilized and highly unproductive. If we can find such partners who are leaders in the world, in agriculture, we can unlock Sabah’s potential,” he said. Wong said hopefully with the combination of Sabah’s private sector, including Sybil’s facilitation, the state government can pull together and research institutions such as Universiti Malaysia Sabah (UMS) can break down the silo of communication between each other. This, he said, would allow both to work together to develop holistic and realistic opportunities and policies so that “we can really facilitate real businesses coming over and investors coming to participate and develop our various natural resources. “So it’s not just about signing the MoU and that’s it. No. There are a lot of jobs that we have to do ourselves. We need to know what we want and when they come they will ask questions about how we can get land, about Sabahan partners, how tax works and what incentives I have. “So when we say we want them to come over, we also have to develop a very detailed playbook for them to follow. We need to identify our countries and say these are different resources that we want to develop. There are so many things that need to be resolved,” he said. Wong said that in the future, Sabah should do its utmost to prepare a playbook or an implementation guideline for important details and investment for investors who want to come to Malaysia, otherwise nothing would happen with the MoU. ‘This is not just Sybil’s responsibility. Everyone needs to work together: the state government, the private sector and research institutions,” he said. Wong cited Silicon Valley in America, which consists of a collaboration of research institutions, the private sector and companies, as well as the government and even the military, to create technology. “We need this kind of synergy and we need to really make things happen. No party can achieve this. This signing of the MoU event is the first step in saying that they want to work together. We want to work together, but work has to be done on both sides. ‘Sybil can only do our part. We can only do our part, but all parties must be able to work together to really follow through on realizing some of these opportunities.” Earlier, the MoUs were signed in the presence of MIDE Deputy Permanent Secretary Myrna Jimenez and JiangXi Delegation Head You Ying, who is also Director General of Jiangxi Ministry of Commerce. The MoUs were signed between Sybil and JXAIEC Jiangxi Enterprise Association of Outward Investment and Economic Cooperation; Sabah Timber Industries Association and Jiangxi Province Furniture Association; Amazing Borneo Tours and Events Sdn Bhd and Jiangxi Tourism Technology Group; and siblings Home and Kitchen Sdn Bhd and Jiangxi Free Kingdom Furniture Co. Ltd.

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