Kelantan Attracts RM6.48 Billion Of Approved Investments As At September 2017
8 February 2018, Kuala Lumpur – “Kelantan is one of Malaysia’s vibrant destinations for investments, driven mainly in the services and agriculture sectors. Although the state is not usually associated with large scale industrial enterprises, the manufacturing sector continues to play a significant role in the overall state development, particularly in providing jobs and entrepreneurial opportunities towards increasing the living standards of people in Kelantan,” said Mr. Arham Abd. Rahman, Executive Director of Investment Promotion, Malaysian Investment Development Authority (MIDA) at MIDA Invest Series: “Unfolding States’ Business Potential” held today at its HQ. The event, third-of-its-kind, was a collaboration with the Kelantan State Economic Development Corporation (KSEDC).
As at September 2017, a total of 292 manufacturing projects have been approved in Kelantan with investments worth RM6.48 billion. Majority of these investments or 78% (RM5.04 billion) were from domestic sources, while the rest were from foreign sources. These projects have created over 38,500 job opportunities, mainly in the non-metallic mineral products, electrical & electronic products, wood and wood products, food manufacturing, machinery and equipment and basic metal products.
Notable foreign companies operating in Kelantan include CMNM Mining Group from Singapore, Esquel from Hong Kong, Manakas from Germany and Rohm Wako from Japan. These five companies have invested a total of RM1.1 billion and provided 2,872 jobs for Kelantan. While, our local players include Terang Nusa that manufactures surgical and examination gloves, Ain Medicare in the pharmaceutical industry, and Kompleks Perkayuan Kelantan that produces integrated sawn timber. These 3 local companies contributed total investments of RM336.0 million and provided 3,269 jobs for the state.
To unleash the untapped potential of Kelantan, YB Dato’ Sri Mustapa Mohamed, the Minister of International Trade and Industry (MITI) has established a Special Investment Committee in 2014, consisting of MITI, MIDA, ECERDC and State Government agencies, to further promote investments and enhance the required enablers in the state. This includes the specific development projects such as the Tok Bali Supply Base (TBSB) and Pasir Mas Halal Industrial Park (PMHP).
“MIDA has established a Task Force to facilitate and monitor the development of Tok Bali Supply Base (TBSB) and we have been actively promoting the area as a strategic oil and gas logistics hub. Today, we are pleased to see that this humble fishing port in Pasir Puteh has been transformed into a significant supply base to support offshore activities, in complementing the other supply bases in Kemaman and Labuan,” said Mr. Arham.
“MIDA is also collaborating with the ECERDC and KSEDC to attract more private investors to the Pasir Mas Halal Park (PMHP). Taking advantage of the growing demands for halal products, the Pasir Mas Halal Park concentrates on the production of high-value added additives and ingredients that has numerous applications, from food additives to raw materials for food and beverage industry. The project is expected to attract RM611 million in private investments and create more than 4,200 job opportunities by 2020,” he added.
More than 80 participants attended the event that featured Tuan Haji Mazli Zakuan bin Mohd Noor, Group Deputy Chief Executive Officer (Corporate Affairs) of KSEDC, who provided the latest development and investment opportunities available in Kelantan.
For more information, please contact:
Mr. Ahmad Tajudin Omar
Director, Domestic Investment & Supply Chain Coordination Division, MIDA
Tel.: 03-2267 3627 | Email: [email protected]