InvestPerak confident of achieving RM6b or more investment value this year - MIDA | Malaysian Investment Development Authority
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InvestPerak confident of achieving RM6b or more investment value this year

InvestPerak confident of achieving RM6b or more investment value this year

22 Apr 2022

Investment Management Centre (InvestPerak), an agency under the Perak state government, is confident of securing the same investment value recorded in 2021 of RM6 billion or more for this year.

Of the total targeted investment value, almost 30 per cent has been identified by the agency to be invested in the electronics and electrical sector, engineering, logistics and new sectors including the drone industry and vertical farming in the state, said chief executive officer (CEO) Izran Abdullah.

“We see huge potential for the drone industry as it (the value) can go up to billions in future. 

“From our current pipeline, there are a few big projects which will materialise within this year which include companies that produce the electronic and electrical components as well as rubber gloves driven by higher demand for these products globally,” he said after the media briefing on Unlocking the Potential of Perak here today.

The briefing was jointly organised by Kumpulan Perbadanan Kemajuan Negeri Perak (PKNP), InvestPerak, MajuPerak Holdings Bhd with the assistance of Rahim & Co International Sdn Bhd. 

Izran said the agency sees the RM6 billion target value this year as achievable, driven by the availability of land, facilitation, incentives as well as with the constant engagements and follow-ups with potential investors.

He also noted that for 2021, the investment value breakdown were—RM4 billion coming from foreign investors, — while the remaining RM2 billion were domestic investors.

Meanwhile, MajuPerak CEO Nizran Noordin said the group, which is predominantly involved in residential housing development, intends to expand its development strategy by taking advantage of the current strong growth in the industrial market.

“As part of our long-term strategy, we have identified three strategic parcels of industrial land in Kanthan, Ipoh, measuring 190.20 hectares, which is believed to have the potential to be developed into high-end, modern industrial parks, namely the Silver Valley Technology Park 2 (SVTP 2).

“We believe this strategy represents a solid economic growth and development potential and we want to take advantage of this opportunity,” he said.

Nizran said some established industrial organisations such as YTL Cement, Hume Cemboard and Scientex Great Wall have chosen to be located at the SVTP 2.

“The appointment of Rahim & Co as our consultant and transaction manager to roll out a request for proposal exercise to manage this process and assist in identifying and negotiating with potential partners that the state (Perak) can work together with to develop these parcels of land,” he added.

SVTP 2, a high-impact project forming part of the Northern Corridor Economic Region under the Strategic Development Plan 2021-2025, aims to become the growth catalyst for high-value manufacturing activities and the digital economy.

Source: Bernama