WASHINGTON: State-run Taiwan International Port Corp (TIPC) on Monday signed a memorandum of understanding with Malaysia’s Sabah Ports, in line with the government’s “new southbound policy” to develop the Southeast Asian market. TIPC chairman Wu Meng-feng on Sunday led a delegation overseas to seek business opportunities in Malaysia, Vietnam and other Southeast Asian nations, the company said, adding that Wu signed the agreement with Sabah Ports senior manager Lai Fue-Nar in Sabah. The delegation also included representatives of CECI Engineering Consultants, Wan Hai Lines and other Taiwanese firms, it added. Sabah Ports operates a facility in Kota Kinabalu, the capital of eastern Sabah state in northern Borneo Island, and has been focused on development of tourism, petrochemical products and consumer goods, TIPC said, adding that the deal would help it secure business opportunities.
Sabah Port is strategically located near a number of emerging economies, such as the Philippines, Indonesia and Vietnam, as well as China, it added. The Sabah state government has rolled out several initiatives to facilitate further development of its ports, TIPC said, adding that the state is rich in natural resources. CECI Engineering Consultants was invited to the delegation due to its interest in possible basic infrastructure projects, including the construction of shipyards, logistics facilities and warehouses, TIPC said, adding that the engineering consulting firm exchanged views with local officials and Sabah Ports management on potential investment opportunities.“Apart from an assessment of various investment projects, both sides agreed to increase mutual visits on issues such as ‘green’ port initiatives and enhancing cargo handling efficiency at ports,” TIPC said.“We hope that this partnership marks the beginning of our investment plans and brings more commercial goods to Taiwan,” it added.
