NCER draws RM16b investments in 2021


  • Economy
  • Friday, 25 Jun 2021

The Northern Corridor Implementation Authority (NCIA) has secured investments worth over RM16 billion for 2021.

KUALA LUMPUR: The Northern Corridor Implementation Authority (NCIA) has secured investments worth over RM16 billion for 2021, generating more than 19,000 jobs for the Northern Corridor Economic Region (NCER).

NCIA chief executive Datuk Seri Jebasingam Isaace John said the investments are a testament to investors’ confidence in the government’s ability to manage the COVID-19 pandemic.

"These are signs that an economic rebound is set to take place soon. There is new hope and the light at the end of the tunnel is getting brighter, ” he told a virtual media briefing today.

The announcement on the investments was made at the 26th NCIA Council meeting held virtually and chaired by Prime Minister Tan Sri Muhyiddin Yassin.

Jebasingam said the investments received by the NCIA were in collaboration with the Ministry of Finance (MOF), the Economic Planning Unit (EPU), the Ministry of International Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA), in line with the government’s efforts to successfully roll out the National Recovery Plan that was announced by the Prime Minister on June 15.

"The investments secured by the NCIA this year are further proof of the authority’s success in building a resilient ecosystem that will lead to recovery post-COVID-19, and at the same time provide social security nets for the rakyat," he added.

Senior government officials who attended Friday's meeting were Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed, Chief Secretary to the Government Tan Sri Mohd Zuki Ali, mentris besar and chief minister of the respective NCER states, as well as representatives from the private sector.

Jebasingam also revealed that two pioneer investors have agreed to cumulatively inject RM1.55 billion into the Kedah Rubber City (KRC), the first dedicated rubber industrial park in the country, which is slated to begin operations in the fourth quarter of 2021.

"The investors are Hong Seng Industries Sdn Bhd (RM1.5 billion) and LTS Logistics Sdn Bhd (RM55 million). Jointly, they are expected to create 2,630 jobs," he said.

Other companies that are investing in the NCER are Aspen Glove Sdn Bhd, Ammorium Resources Sdn Bhd, Intel Technology Sdn Bhd, Intel Microelectronics (M) Sdn Bhd, Greatech Integration (M) Sdn Bhd and Infineon Technologies (Kulim) Sdn Bhd. - 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!

   

Next In Business News

U.S. weekly jobless claims edged lower last week
Govt channels RM20.94bil for wage subsidy programme as at July 29
Yinson inks MoU with Cyberview to develop smart mobility ecosystem in Cyberjaya
Bursa Malaysia onboards CGS-CIMB, Kenanga IB for shariah-compliant trading
Sunway REIT's outlook remains optimistic
Ringgit eases further as risk-off mode remains after Fed’s minutes
Gas Malaysia 2Q net profit surges 72%, declares 5.9 sen dividend
Dialog 4Q net profit drops 14% to RM118mil
AME Elite to develop industrial park in Penang with GDV of RM1bil
Bursa Malaysia ends lower for second consecutive day

Others Also Read