MIDA Invest Series: Unfolding the Potential Of Terengganu
“There are many exciting developments happening in Terengganu that bodes well for business and job opportunities. The East Coast Rail Link (ECRL), Terengganu Silica Valley (TSV), Terengganu Technology Hub (TTH), Visit Terengganu 2018 and the rejuvenation of the Knowledge Park in Tembila – a boost to the development of human capital in the state,” said Mr Arham Abdul Rahman, Deputy Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) during its 5th instalment of the MIDA Invest Series today
18 April 2018, Kuala Lumpur – “There are many exciting developments happening in Terengganu that bodes well for business and job opportunities. The East Coast Rail Link (ECRL), Terengganu Silica Valley (TSV), Terengganu Technology Hub (TTH), Visit Terengganu 2018 and the rejuvenation of the Knowledge Park in Tembila – a boost to the development of human capital in the state,” said Mr Arham Abdul Rahman, Deputy Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) during its 5th instalment of the MIDA Invest Series today.
The series that started in January this year with Perlis and Kedah, followed by Kelantan and Pahang in February serves to provide updates and insights on the investment opportunities and facilities in each of Malaysia’s 13 states. The event continued today with a joint collaboration between MIDA and the Terengganu State Economic Transformation Unit (UTEN-T), featuring an in-depth presentation by the Executive Director and Chief Executive Officer of UTEN-T, Datuk Wan Mohd Albakri bin Wan Md. Noor.
Speaking briefly on the mega-projects taking place in Terengganu, Mr Arham said, “The ECRL with a total of 688km long route, that links Port Klang, Selangor, Pahang, Terengganu and end in Tumpat, Kelantan will contribute to greater development for the economy in the rural areas of the east coast. This will also be a catalyst to enhance the other upcoming significant projects such as the Terengganu Silica Valley (TSV) that is set to become the world’s first silica valley, and Terengganu Technology Hub (TTH) – the first creative and cultural hub that fosters symbiotic growth between culture and technology.”
TSV, launched on 3rd March 2018 by YAB Prime Minister, is set to create up to 7,200 jobs for locals and will be capable of producing medium-to-large-sized silica-based industrial materials. MIDA is part of this game changer through its Special Task Force, formed at end-2017, and has been engaging with the related Government agencies and utility providers. The Task Force is on track towards proposing implementable strategies and effective action plans for the next 5 years.
MIDA has also established a research desk on the silica and quartz value chain to identify gaps in the ecosystem and create opportunities to fill them towards developing a strong and comprehensive industry cluster towards higher-end downstream activities. This will provide opportunities for key players in the chemical, electrical & electronic, metal, green technology, glass and non-metallic industries.
As at December last year, among the states in the east coast of Malaysia, Terengganu records the highest amount of investments in the manufacturing sector. There were 210 implemented projects valued at RM33.9 billion. Most of these projects are from domestic sources recording a total of RM20.4 billion or 60% while the rest are from foreign sources. These projects, which have created over 20,000 job opportunities, are mainly in natural gas, petroleum products (including petrochemicals), basic metal products, rubber products and transport equipment industries.
Do look out for the next MIDA Invest Series and other programmes that will be coming soon. Interested parties are encouraged to follow MIDA’s social media for the latest announcements and updates at @OfficialMIDA on Facebook and /OfficialMIDA on Twitter.
For more information, please contact:
Mr. Ahmad Tajudin Omar
Director, Domestic Investment & Supply Chain Division, MIDA
Tel.: 03-2267 3627
Email: [email protected]
Speech by Mr. Arham Abdul Rahman, DCEO II -MIDA Invest Series Terengganu