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Kedah aspires to maintain investment growth momentum

Kedah aspires to maintain investment growth momentum

20 Mar 2022

Kedah is determined to maintain the growth momentum of its investment inflows to become a new industrial state in the northern Peninsula as it does not want to rely entirely on the agriculture sector.

Menteri Besar Datuk Seri Muhammad Sanusi Md Nor(pix) said the state government was targeting the investment value would at least surpass the target of RM10 billion yearly from this year onwards as set under the Kedah Development Plan 2035.

“Last year we achieved an investment inflow of RM68.3 billion, of course, this have surprised all parties, including the government itself.

“We hope this trend is maintained. It may not reach RM60 billion and exceed the amount but we hope to maintain the target of RM10 billion a year,“ he told a press conference after the opening of the first meeting of the fifth term of the Kedah State Assembly by the Sultan of Kedah Sultan Sallehuddin Sultan Badlishah here today.

Muhammad Sanusi said the RM10 billion investment target was not impossible to achieve as the industrial areas in Kedah had shown a very good performance in attracting investors.

He said the Kulim Hi-Tech Park (KHTP), which receives the most investment inflows, will open phase four A and phase five to cater to the interests of investors who wanted to invest in the industrial area.

“Phase four A and phase five (of KHTP) have registered the interests of investors who wanted to invest the area while KTPC (Kulim Technology Park Corporation) is negotiating with several existing investors who wanted to expand their industrial sites,“ he said.

Besides, Muhammad Sanusi said the state government’s subsidiary, Kedah Invest Sdn Bhd was also looking into proposals from the private sector to open a new industrial area measuring ​​1,000 acres (404.68 hectares) in Gurun.

“We can also see a very good development in the Special Border Economic Zone in Bukit Kayu Hitam and Kedah Rubber City which was officiated by the Prime Minister (Datuk Seri Ismail Sabri Yaakob) recently. All these will propel Kedah into a new industrial power state,” he said.

Source: Bernama

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