Perak Mentri Besar Datuk Seri Saarani Mohamad (middle) witnessing the signing of Joint Venture Shareholders’ Agreement between Port of Antwerp-Bruges international (PoABI) and PKNPK.
High-tech park and maritime city to drive state’s future economy
PERAK has two mega projects that will transform it into a dynamic and prosperous state.
Perak State Development Corporation (PKNPk) chief executive Datuk Redza Rafiq Abdul Razak said the Silver Valley Technology Park (SVTP) and the Lumut Maritime Industrial City (LuMIC) would revitalise the state’s economic infrastructure and also combat urban sprawl by fostering concentrated hubs of economic activity.
“SVTP and LuMIC, spearheaded by PKNPk, are more than just mere projects.
“They are crucial elements in the strategic transformation of Perak into a dynamic and prosperous state,” he said.
“As Perak contended with the repercussions of globalisation, including economic agglomeration and migration, it also faced challenges such as urban sprawl.
“By building on the lessons of the past and leveraging innovative diversification strategies, these initiatives are crucial in ensuring Perak’s relevance and resilience in the global economy,” he added.
He said Perak’s economic landscape had been formerly dominated by the tin-mining industry and rubber plantations.
Redza Rafiq says the projects will revitalise the state’s economic infrastructure and also combat urban sprawl.
“These foundational industries, which had been crucial to the state’s early prosperity, faced decline due to global market shifts and technological changes.
“This necessitated a shift towards a diversified economy to mitigate the cyclical nature of resource-dependent industries, prompting strategic urban regeneration,” he said, adding that the state had undergone significant transformation since.
Redza Rafiq said SVTP aimed to transform Perak into a beacon of technological innovation.
“As a state-of-the-art technology park, SVTP is designed to attract leading tech companies and startups, creating a vibrant ecosystem of high-tech innovation and development.
“This hub will focus on cutting-edge sectors such as mineral based industry, electrics and electronics, pharmaceuticals and digital economy providing a platform for local businesses to integrate into the global tech landscape,” he said.
As for LuMIC, he said it was set to enhance the state’s maritime and industrial sectors by developing a comprehensive maritime industrial park.
“This project will include advanced shipping facilities, logistics hubs, and industrial zones tailored to heavy industries and maritime-related businesses.
“LuMIC’s strategic location along one of South-East Asia’s busiest maritime routes will leverage Perak’s geographic advantages, enhancing its appeal to international investors and businesses,” he added.
Redza Rafiq said both projects also represented a strategic call to Perak’s diaspora.
“By prioritising environments that nurture technological innovation and robust industrial growth, SVTP and LuMIC provide compelling reasons for local talents who have moved away to consider returning.
“This supports Perak’s economic revival and enriches the state with diverse skills and expertise necessary for a sustainable future,” he said.
“We will continue to champion both projects, which are pivotal to realising high-tech industries and maritime logistics as cornerstones of Perak’s future economy.
“These projects also directly align with the goals of the Perak Sejahtera 2030 plan by driving economic diversity and resilience, ensuring that Perak can withstand future economic disruptions,” he added.
