Hainan FTP cements ties with Malaysia across multiple sectors

HAIKOU, China, Nov. 29, 2023 /PRNewswire/ — A report from Hainan International Media Center (HIMC):

South China’s Hainan Province has cemented and deepened cooperation with Malaysia in economy & trade, agriculture, transportation, tourism, and culture, holding a Hainan Free Trade Port (FTP) promotional event and other exchanges across Malaysia from November 25 to 28.

A Hainan FTP promotion conference attended by over 400 representatives was held in Kuala Lumpur, the capital city of Malaysia, on November 27. Eight contracts for key projects involving agriculture, trade, education, business services, and other industries were formally signed at the event.

A promotional event for the Hainan FTP held in Kuala Lumpur, Malaysia, on Nov. 27. (Photo: Feng Shuo / Hainan Daily)

In addition, the island province of Hainan signed a letter of intent to establish a twin relationship with Selangor, the most developed state in Malaysia, as well as cooperation memorandums with the NCT Smart Industrial Park (NSIP) and Port Klang Authority (PKA).

On November 26, the Federation of Hainan Association Malaysia opened the Hainan Cultural Relics Museum as part of their 90th anniversary celebrations in the capital of Malaysia. Founded in 1933, the federation has long served as a bridge of people-to-people and cultural exchanges between the province of Hainan and Malaysia.

In June 2020, Chinese authorities issued a master plan for the development of the Hainan FTP, considered a flag bearer and crucial gateway for China’s continued opening up in the new era.

Malaysian companies are invited to expand their business in the Hainan FTP by taking advantage of preferential FTP policies and fostering tighter bilateral cooperation in fields such as transportation, tourism & culture, agriculture & trade, talent exchanges, and the low-carbon industry.

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