Negeri Sembilan continues to attract investments – Exco

Negeri Sembilan continues to attract investments despite the challenging global economic environment, says state Investment, Industrial, Entrepreneurship, Education and Human Capital Committee chairman Datuk Dr Mohamed Rafie Abd Malek said

Negeri Sembilan continues to attract investments despite the challenging global economic environment, says state Investment, Industrial, Entrepreneurship, Education and Human Capital Committee chairman Datuk Dr Mohamed Rafie Abd Malek said.

He said as of June last year, there were 901 manufacturing projects implemented in the state with total investments of RM37.2 billion, creating over 100,000 job opportunities mainly in the electrical and electronics (E&E) products, textiles and textile products, and rubber products industries.

“The majority of these investments were from foreign sources which contributed a total of RM25.3 billion, or 68 per cent, while the rest were from domestic sources,” he said in a briefing on Negeri Sembilan’s business opportunities and available facilities here today.

He said the state also attracted 33 additional manufacturing projects worth RM2.6 billion during the January-September 2019 period.

Riding on this, he said the state government would like to encourage more investors to invest in the state’s new growth area, namely the Malaysia Vision Valley 2.0 (MVV 2.0) project, which covers 153,411 hectares in the districts of Seremban and Port Dickson and has been earmarked as an extension to the Greater Kuala Lumpur conurbation.

"Located at the south of the Klang Valley, MVV 2.0 is the natural destination and sponge for the spillover impacts of the Klang Valley where developments thrive,” he said.

He said investments in MVV 2.0, however, need to be in line with the four economic clusters highlighted in the Comprehensive Development Plan (CDP) of MVV 2.0 and the state government, through the MVV Secretariat, would facilitate the investment process with end-to-end handholding to ensure smooth realisation of investment in the area.

Meanwhile, Malaysian Investment Development Authority (MIDA) deputy chief executive officer Arham Abdul Rahman said there is much more room for expansion or diversification for existing companies in Malaysia to reinvest, particularly in new growth areas.

"Malaysia offers sound economic fundamentals and capabilities in providing the right mix of ingredients as a profitable destination for new companies to grow in the region," he said.

He said local and foreign companies are also urged to participate in the Economic Accelerator Projects (EAPs) along the East Coast Rail Link (ECRL) corridor.

“The MIDA’s ECRL team is currently engaging with the respective states and interested parties to inform about and promote the EAPs,” he said.

He said with the inflows of foreign direct investment, domestic investment and potential growth for the industrial, commercial and tourism sectors, the railway project could help bridge the development gap between the east and west coasts of Peninsular Malaysia.

Source: Bernama 

Posted on : 21 February 2020
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Last Updated : Thursday 21st May 2020