23 February 2018, Kuala Lumpur – The East Coast Railway Line (ECRL) project, Malaysia-China Kuantan Industrial Park (MCKIP), Kuantan Port expansion and Tanjong Agas Oil & Gas and Logistic Industrial Park lend an air of optimism for the state of Pahang that sets to woo investments from both foreign and local investors into the state.
“These projects will be an impetus to attract more quality investments into Pahang, particularly in targeted sectors. With so much room available for new investment, expansion and diversification, we look forward to more companies taking advantage of the established ecosystem and facilities that Pahang has to offer,” said Mr. Arham Abdul Rahman, Executive Director of Investment Promotion, Malaysian Investment Development Authority (MIDA) in his welcoming remarks at the MIDA Invest Series event held this morning at MIDA Headquarters.
The ECRL project will be the game changer for industries and existing developments on the east coast region that will see the emergence of additional trade routes. The project, which is expected to be completed in 2024, will link several key east coast industrial hubs such Kertih Port, Kemaman Port and Kuantan Port directly to the west coast of the peninsular.
The MCKIP, Malaysia’s first industrial park with ‘National Park’ status will drive more investments in heavy industry as well as high end and high technology industry such as steel and non-ferrous metals; machinery and equipment manufacturing; clean technology and renewable energy; oil and gas; petrochemical; electrical and electronics as well as research and development. MCKIP will grow to become an important economic driver with the aim of creating 19,000 jobs by 2020.
The multi-cargo Kuantan port leverages on its strategic location facing the South China Sea to be expanded to include a New Deep Water Terminal (NDWT). This leading petrochemical hub port and container terminal in the east coast region will double its capacity to 52 million freight weight tonnes (FWT) and is expected to emerge as one of the fastest routes to major ports in China and Asia-Pacific markets, making MCKIP as a key investment hub in Asia Pacific.
The Tanjong Agas Oil & Gas and Logistic Industrial Park sets to become the supply base and marine services hub for modern and complete facilities for the oil and gas industry. It will help spur the economic development and attract additional investments in Malaysia’s maritime and oil and gas business sectors. The park is expected to contribute RM30 billion to the Gross National Income and create 30,000 jobs by 2020.
Mr Arham said, “Not only do these projects strengthen the state’s comprehensive ecosystem; but they also improve the production and logistical efficiency; reduce the cost of doing business, and support greater flow of trades and investments into the state. We trust that these projects will further stimulate Pahang’s economic growth and create high value jobs for its people.”
As at September 2017, a total of 698 manufacturing projects have been approved in Pahang with investment worth RM43.1 billion. Majority of these investment or 56% (RM24.0 billion) were from foreign sources, while the rest (44% or RM19.1 billion) were from domestic sources. These projects have created over 90,000 job opportunities, mainly in the petroleum products, basic metal products, chemical and chemical products, electronics and electrical products, and non-metallic mineral products. Notable companies operating in Pahang include BASF Petronas Chemical, RP Chemicals, Kinsteel Berhad, CSWind Malaysia (formerly known as Eco Tower), Straits Cement, Polyplastics Asia Pacific and Kaneka.
“Much of these successes are the direct result of the close working relationship between the federal and state Government to develop and improve the state’s standing in the country. These efforts, particularly in delivering the high-impact projects and public infrastructures, have been ongoing, big and strong,” added Mr. Arham.
MIDA Invest Series is an initiative undertaken by MIDA since early January 2018 to promote a competitive economy with equitable development among all states in Malaysia. The fourth run in this series featured a presentation by YH Dato’ Haji Ahmad Sabri bin Hussin, Deputy Chief Executive Officer, Operation of Pahang State Development Corporation on investment prospects of Pahang and its latest developments.
For more information, please contact:
Mr. Ahmad Tajudin Omar
Director, Domestic Investment and Supply Chain Coordination Division, MIDA
Tel.: 03-2267 3627 | Email: [email protected]