12MP: Focus on improving transport sector will attract foreign investments, says MyHSR Corp CEO

PETALING JAYA: The proposed improvements to the transport sector outlined in the 12th Malaysia Plan (12MP) have been welcomed by MyHSR Corporation Sdn Bhd (MyHSR Corp), which said the measures are all on the right track.

In a statement, MyHSR Corp CEO Datuk Mohd Nur Ismal Mohamed Kamal said the focus on improving the connectivity at the first-and-last mile as well as to stimulate the competitiveness of the industry is not only responding to current needs, but one that will also make the country attractive to foreign investments.

"Strategies that prioritise critical infrastructure projects for the prosperity of the people are much needed to speed up economic recovery as such projects have a huge economic multiplier value," said Mohd Nur, who was also a former CEO of the now-defunct Land Public Transport Commission (SPAD), on Monday (Sept 27).

He said that as seen in other developed countries such as the United States, China, United Kingdom, Japan and several others, transport-based infrastructure projects not only generated thousands of skilled and semi-skilled jobs, but also stimulated the local economy in the immediate surroundings.

For example, London unveiled the extension of the Northern Line (London’s first new underground rail in 30 years) on Sept 20 to serve the Battersea Power Station (a project developed by Malaysia's SP Setia) and Nine Elms areas.

With the Northern Line extension, analysts recently forecast a 22.5% rise in residential property values across the Vauxhall, Nine Elms and Battersea area in the four years to 2025, with continued development of Nine Elms and Battersea Power Station’s progression, all having a significant impact on the growth of the area.

"High technology infrastructure projects such as rail can also contribute to the reduction of greenhouse gases, thus contributing to overall sustainability," said Mohd Nur, who now leads this special purpose vehicle to realise high-speed rail travel along Peninsular Malaysia.

"We at MyHSR Corp are optimistic that if the plan is well executed, and tightly monitored, the increase in the buildup of transportation infrastructure will help Malaysia create an appealing investment climate that is highly competitive and contributes to overall sustainable development. This will draw more foreign as well as domestic investments over the next five years.

"In the spirit of the Malaysian Family, we fully support 12MP and will jointly contribute to realise the goals of this plan in order to ensure its success," he said.