Driving state’s economy forward - MIDA | Malaysian Investment Development Authority
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Driving state’s economy forward

Driving state’s economy forward

04 Dec 2023

THE continuous support by investors is helping the state grow in various sectors, including industrial and services, says Perak Investment Management Centre (InvestPerak).

Its chief executive officer Mohamad Hashim Abdul Ghani said the centre has been working to ensure that the Perak economy keeps expanding.

“We have several investment promotion activities carried out in collaboration with the Investment, Trade and Industry Ministry (Miti) and Malaysian Investment Development Authority (Mida) to attract more quality and high-tech investments, especially in the industrial and services sectors

“At InvestPerak we have been given the responsibility to ensure all relevant projects are approved and implemented smoothly,” he said during the launch of Perak Industrial Plan (P3) and appreciation dinner for investors at Casuarina Meru.

Among those present were Perak Mentri Besar Datuk Seri Saarani Mohamad, state secretary Datuk Ahmad Suadi Abdul Rahim, state finance officer Datuk Mohd Zaki Mahuidin, state legal advisor Datuk Azmir Shah Zainal Abidin, Miti secretary-general Datuk Hairil Yahri Yaacob and Perak investment, industry, corridor development centre and tourism committee chairman Loh Sze Yee.

Mohamad Hashim added that the dinner was an annual affair but was postponed due to the Covid-19 pandemic.

“The last time we had the dinner was in 2019.

“Therefore, I would like to take this opportunity to thank industry players for their never-ending support towards boosting Perak’s economy.

“We also thank agencies, such as PLANMalaysia, Environmental Department, land offices and local councils for always giving their full cooperation and addressing issues raised by investors in a prompt manner.”

He added that UKM Pakarunding Sdn Bhd had been appointed to prepare P3.

Saarani applauded the role played by InvestPerak in resolving problems and accelerating investments.

“Despite uncertainties in the global economy, with geopolitical instability, climate change and disruptions to commodity markets, Perak was still able to record significant growth.

“In 2022, Perak’s gross domestic product (GDP) was RM80.2bil, achieving a growth rate of 4.3% compared to 3.6% in 2021.

“Perak was also among the states that recorded a high level of implementation, of around 85%, for approved projects.

“As the Mentri Besar, I am grateful because these specific outlines in the Perak Sejahtera 2030 plan to restore and redevelop the post-pandemic economy are increasingly showing positive signs,” he said.

Saarani added that P3 was an effort by the state government to act as a catalyst for economic growth.

“We want to be the state of choice for investors to boost the development of the industrial sector and attract more direct investment to Perak. That’s why we launched the plan.

“The plan will boost economic growth and performance of Perak’s industrial sector until 2030, in line with the aspirations of Miti’s New Industrial Master Plan 2030.

“The plan targets total investments of RM47bil during the 10-year period focusing on high-tech sectors.

“These include electrical and electronic, automotive components and electric vehicles, mineral-based industries, biotechnology, medical devices and related sectors.

“All these have been identified in highlighting Perak as a state that is not only capable of high-tech development, but also developing a skilled workforce that is globally competitive.

“Through this plan, the GDP rate for Perak is targeted to increase to RM123bil by 2030 and the industrial sector is targeted to contribute as much as 25% with a value of RM30.9bil.

“I also hope that the launch of the Perak Industrial Plan will act as a guideline and benchmark for every government agency and department to jointly make efforts to further advance the state’s industrial sector.”

Saarani added that the state government would continue to ensure investment in Perak run smoothly.

“I give the assurance that I will continue to facilitate any investment, including reducing red tape that investors often experience.

“We are using the ‘ease of doing business’ approach as it plays a very important role in ensuring that every approved investment can be implemented promptly for the benefit of the people and at the same time, strengthen Perak’s own economic network,” he added.

Source: The Star