SEVEN homegrown companies based in Kedah Rubber City (KRC), Kulim Hi-Tech Park and Langkawi have secured investment commitments worth RM3.06bil, which will create over 1,400 new jobs.
Kedah Mentri Besar Muhammad Sanusi Md Nor said efforts have been made to create employment opportunities and boost the economy in the state.
“We are working relentlessly with the Northern Corridor Implementation Authority (NCIA) towards economic recovery and ensuring the well-being of the people post-Covid-19.
“The KRC project symbolises the operation of high-impact strategic projects running smoothly without any hindrance despite the economic downturn caused by the ongoing Covid-19 pandemic,” he said
during the Kedah Investment Commitment ceremony at Wisma Darul Aman, Kedah recently.
In view of the current economic atmosphere that is feeling the impact of the ongoing pandemic, the Northern Corridor Economic Region (NCER) Strategic Development Plan (SDP 2021-2025) is encouraging domestic as well as foreign investments to spur the economy.
In the SDP 2021-2025, NCIA has presented a post-Covid-19 plan, with a three-pronged approach that suggests a focus on strategic infrastructure development and accelerating the growth of private investment as well as empowering the people.
NCIA chief executive officer Datuk Seri Jebasingam Issac John said NCIA’s main focus at the moment is to address the challenges faced by the workforce, businesses and those most affected by the pandemic.
“The approach has been specially designed holistically and inclusively in this region so that every layer of the people achieves equitable socio-economic development.
“Thus, the economic and strategic policies implemented post-Covid-19 will strengthen the region’s economy to remain resilient, with participation from all walks of life.
“Human capital development and the availability of highly skilled manpower are critical to support the economic transition towards knowledge-based,
innovation and technology-based activities,” he said.
Jebasingam said through NCIA’s strategic projects, investments and human capital programmes, more than 35,000 job opportunities would be created in Kedah while nearly 9,000 people would be nurtured to become entrepreneurs.
“The NCER states of Kedah, Perlis, Penang and Perak have abundant opportunities for investors to capitalise on, especially when MNCs around the world are looking to relocate their operations.
Most noteworthy is the completion of KRC first phase and investors have planned to set up operations in Malaysia’s first dedicated rubber industrial park.
“Through NCIA, the Federal Government will have invested in total RM417mil to build a world-class infrastructure covering an area of 54mil sq ft for high-value rubber industry players.
“Once fully completed, KRC will be poised to propel Malaysia back as the global leader in the rubber industry and ultimately the rakyat will be able to reap the benefits from the new employment opportunities and subsequent increase in income and elevated livelihoods.
“Equipped with facilities such as world-accredited testing facilities, up-skilling employees to meet Industry 4.0 technical expertise, research and development in technological advancement and niche rubber production, KRC will link the value chain of the Malaysian rubber industry to become a global growth hub,” he said.
Strategically located within the Rubber Belt of the Malaysian-Thailand border, KRC was designed to leverage on the abundance of raw rubber supply and develop a complete ecosystem for the rubber industry in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) area.
“To support this endeavour, NCIA is simultaneously developing partnerships with neighbouring countries through the IMT-GT platform to support and accept products produced in KRC.
“A comprehensive special tax incentive package detailing allowance and exemptions is available for KRC investors,” said Jebasingam.