Date: Saturday 19-Apr-14

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NCER expects more US investments in 2013

Category: MIDA in the news

The Northern Corridor Economic Region (NCER), covering the states of Perlis, Kedah, Penang and Perak, expects to see more inflow of US investments from next year, Northern Corridor Implementation Authority (NCIA) Chief Executive, Datuk Redza Rafiq said.

He said the region is considering a potential investment in the area of biotechnology to deal with agricultural crop protection.

Other potential US investment interests are in mechanical and electrical aspects of the transportation industry as well as in the electrical and electronics (E&E) sector as these investors are keen to tap on the existing manufacturing excellence in the northern states.

Datuk Redza had joined the recent Malaysian Investment Development Authority (MIDA) trade and investment mission to New York, Boston and Minneapolis led by its Chairman, Tan Sri Amirsham Abdul Aziz.

The US is the third largest foreign investor in the NCER after Japan and Europe, he said. Among the investments is the tie-up with AMD Export (M) Sdn Bhd to build a development facility for micro-processor.

Last year the region had also attracted World Micro Inc to establish its first overseas operations in Penang, where the company will transfer counterfeit detection and abatement skills sets, best practices and standards to the E&E sector within NCER.

Adapted from NST Business times 27 Oct 2012

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