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Interest in CVIA gains momentum, Perlis can be cross-border trade leader: NCIA

Interest in CVIA gains momentum, Perlis can be cross-border trade leader: NCIA

14 Apr 2023

The Northern Corridor Implementation Authority (NCIA) is confident of Perlis’ growth trajectory as interest in the Chuping Valley Industrial Area (CVIA) gained momentum based on Malaysia External Trade Development Corporation (MATRADE) report for total Malaysia’s trade with Thailand last year.

NCIA chief executive officer Mohamad Haris Kader Sultan said that Perlis has the potential to be a leader in cross-border trade, especially as a gateway for Malaysia’s exports to Thailand, Vietnam, Myanmar, Cambodia, Laos and China, with the development of the CVIA.

The CVIA stands to benefit from Malaysia’s increase in total trade with Thailand which hit RM112.42 billion from January to November 2022, an increase of 27.4 per cent for the same period in 2021, as reported by MATRADE, the authority said in a statement today.

“This potential is further boosted by the advancement in technology as well as the boom in cross-border e-commerce activities,” it said.

NCIA said it was committed to working closely with the Perlis state government to facilitate the state’s socio-economic growth, not just with the CVIA but also with the Northern Corridor Economic Region (NCER) AgriBio Economic Zone (NAEZ) and the Perlis Inland Port (PIP) as a logistics hub.

Earlier today, the Perlis state government met the NCIA during the Perlis State’s Steering Committee (JPN), chaired by Perlis Menteri Besar Mohd Shukri Ramli for the first time.

Mohd Shukri said he was confident in the investment authority’s efforts in developing CVIA to leverage Perlis’ position near the Thai border.

“This will, in turn, provide investment opportunities for local and foreign companies to take advantage of the cross-border trade potential in Perlis.

“Together with NCIA, the state will be able to attract quality investors to catalyse the transition of Perlis from an agronomic state to a border state economy and accelerate socio-economic growth,” he added.

Source: Bernama