MIDA sets up dedicated team to promote development along ECRL route

  • Business
  • Wednesday, 15 May 2019

KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) has established a dedicated team to promote the development of industrial parks, infrastructure, logistics hub and transit-oriented developments along the East Coast Railway Link (ECRL) project.

MIDA said in a statement on Wednesday the team within the agency was established to facilitate, evaluate and review the implementation of the Economic Accelerator Projects (EAP) along the ECRL corridor.

Moving forward, the team will engage and strategise various action plans covering promotional activities and engagements with relevant stakeholders including domestic industries.

The establishment of a dedicated team followed the signing of the Memorandum of Understanding (MoU) between MIDA and China Communications Construction Company Ltd (CCCC) on April 25, this year in Beijing, witnessed by Prime Minister Tun Dr Mahathir Mohamed and his Chinese counterpart, Li Keqiang.

According to MIDA, the ECRL project, which will form the East-West rail transport network is designed to stimulate the commercial, logistic, import  and  export, as well as tourism development activities along the proposed alignment.

With the inflows of Foreign Direct Investment and Domestic Investment as well as potential growth for industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia.

These catalytic projects, it said will create a wide spectrum of business and job opportunities including the development of industrial parks, logistics hub and transit-oriented development along the ECRL corridor.

“MIDA together with CCCC will promote the EAP to maximise its success potential and invite local and international investors to invest in the projects.

“Both parties will also undertake cooperation and capacity building activities to encourage the industrial and business communities to organise or participate in dialogues, workshops, seminars and conferences, technical assistance to promote and facilitate capacity building and training, the sharing of best practices,” it said.

Information regarding the implementation of EAP would be provided from time to time, MIDA added. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

ECRL , MIDA , Economic Accelerator Projects ,


Next In Business News

Macau casino giants win licence renewals, Malaysia's Genting loses bid
Oil prices fall 2% as Chinese demand worries linger
China investors identify trigger points to buy
More than meets the eye in courier industry
Energy security is global priority in 2023
Asia’s richest man makes US$5bil bet to silence debt-obsessed critics
The crypto bubble of the worst kind
ESG in real estate gains traction
Poll: UK house price rally to end next year but no big crash seen
The rise and fall of FTX

Others Also Read