An elderly couple look at a sign promoting the Belt and Road Forum in Beijing April 22, 2019. — AFP pic
While Malaysia’s ability to win the concession has heartened observers, they also noted that the country had to cede half the ownership in the operations to China Communications Construction Company Ltd . reported China’s foreign minister, Wang Yi, as saying Beijing has planned side events and progress reports for ongoing projects to counter such allegations.
Despite being billed as a modern-day “Silk Road”, there is also no entity or organisation to coordinate this connectivity; instead, all roads lead proverbially to China. Ahead of Prime Minister Tun Dr Mahathir Mohamad’s visit to China for the forum, Deputy International Trade and Industry Minister Ong Kian Ming has said Putrajaya wants more transparency in the BRI and its projects.
Aside from Malaysia’s prior reluctance to proceed with the ECRL due to the debt Dr Mahathir said would “impoverish” the country, other developments such as in Sri Lanka have fuelled the perception that BRI projects are ticking financial time-bombs.
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