Almost RM4 bln investments clinched by Terengganu over last two years - PMINT - MIDA | Malaysian Investment Development Authority
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Almost RM4 bln investments clinched by Terengganu over last two years – PMINT

Almost RM4 bln investments clinched by Terengganu over last two years – PMINT

18 Jul 2022

The Terengganu State Economic Development Corporation (PMINT) has attracted investments of nearly RM4 billion in the manufacturing, services and industrial sectors from July 2020 to June 2022.

Group chief executive officer Wan Adnan Wan Derahman said this followed the agreements involving five companies – BTM Biomass Product Sdn Bhd, Clear Water Services Sdn Bhd, Multi Max Engineering & Services Sdn Bhd, Swift Integrated Logistics Sdn Bhd and Xinyi Energy Smart (M) Sdn Bhd — which would start operations in Terengganu in the near future.

“At present, the investors are in the process of preparing plans and detailed reports for approval, as well as in the infrastructure development process with the parties involved such as Tenaga Nasional Bhd, Syarikat Air Terengganu Sdn Bhd and the local authorities to cater to their needs at the selected locations.

“The five projects will offer 3,800 job opportunities, including high-skilled jobs, for the locals,” he told Bernama at his office here yesterday.

The biggest investors since July 2020 include Xinyi Energy Smart involving RM3.17 billion, BTM Biomass (RM500 million), Swift Integrated Logistics (RM26.39 million), Kilang Papan YST Sdn Bhd (RM5 million), Clear Water Services (RM1 million), and Multi Max Engineering (RM1 million).

Wan Adnan said the success in attracting investments was due to Terengganu’s ability to strengthen its position as a destination of choice in the country despite the challenging global economic situation.

He noted that since July 2020, PMINT, as a state government agency, had been tasked to plan, manage  and implement industrial area development and to establish a conducive investment climate to attract foreign direct investment and domestic direct investment.

Wan Adnan said PMINT was highly committed and serious in developing the state’s economy and investment growth by ensuring the industrial land provided is fully developed according to the set schedule.

“In line with the state government’s aim to attract investors to Terengganu, PMINT is always prepared to work together and discuss with any investment company, local or foreign, by leasing government-owned land throughout the state,” he added.

According to records, Terengganu has 26 zoned industrial areas.

Source: Bernama