News Room - Business/Economics

Malaysia is taking note on China's interest to participate in the high-speed rail project between Kuala Lumpur and Singapore, said Prime Minister Datuk Seri Najib Tun Razak.

Najib said Malaysia would be considering China's interest on the basis of international tender process.

"Both sides have agreed to continue to facilitate the coordinated development of the two countries' industrial twin parks project and jointly explore the opportunities of promoting cooperation in the priority areas.

"That include rail transportation, shipbuilding, information, communications and technology, power generation and iron and steel manufacturing," he told reporters at a joint-press conference with Prime Minister of China, Li Keqiang, here today.

Malaysia and China today signed eight government-to-government memoranda of understanding (MOU) to improve relationship in trade, cultural and administration.

The signing of the MOU was held in conjunction with the official visit of Li to Putrajaya.

Under the Budget 2016 that was tabled last month, the government would continue the negotiations on high-speed rail with Singapore.

The planned 350-kilometre project is expected to link Malaysia and Singapore in 90 minutes and had also attracted interest from Japan and South Korea.

Meanwhile, in order to facilitate the already vibrant economic and trade cooperation, both sides will further enhance bilateral trade, actively encourage and support two-way investment, promote the involvement of the private sector and support cooperation between the small-medium enterprises and service institutions of the two countries as stipulated in the 'Five-Year Programme for Economic and Trade Cooperation'.