Kedah secures RM3.06 bln in investment commitments - MIDA | Malaysian Investment Development Authority
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Kedah secures RM3.06 bln in investment commitments

Kedah secures RM3.06 bln in investment commitments

19 Aug 2020

Seven domestic companies have made investment commitments amounting to RM3.06 billion to Kedah, which are expected to create more than 1,400 jobs in the state.

Kedah Menteri Besar Muhammad Sanusi Md Nor said the investments are centred in Kedah Rubber City (KRC), Padang Terap; Kulim High Tech Park (KHTP), Kulim; and Langkawi.

“We welcome the arrival of interested investors to Kedah, especially in strategic areas such as KRC, KHTP, and the Special Border Economic Zone (SBEZ) Logistics Hub which offers various conveniences, space, opportunities as well as world-class infrastructure and facilities.

“The state government has also made a commitment to facilitate all investment processes with all the government agencies involved and we are working hard to provide all the infrastructure including water and electricity supply, and manpower for investors who come to Kedah,” he said.

He said this at a press conference in conjunction with the State Investment Commitment ceremony organised by the Northern Corridor Implementation Authority (NCIA) here today, during which NCIA chief executive officer, Datuk Seri Jebasingam Issace John was also present.

Muhammad Sanusi said the investment commitments will proceed in phases over the next five years.

He also said the state government together with NCIA would endeavour to attract more investments to Kedah in future.

“The problem we are facing now is that investors cannot come in because the borders are still closed. InsyaAllah, once we’ve obtained clearance for international investors, I am sure more companies will arrive, with higher value investments,” he said.

Meanwhile, Jebasingam said the Northern Corridor Economic Region Strategic Development Plan 2021-2025 would hopefully draw domestic as well as foreign investments to boost the economy that is facing the effects of the COVID-19 pandemic.

He said NCIA had also introduced a post COVID-19 plan comprising a three-pronged strategy that focuses on strategic infrastructure development, private investment growth acceleration and human capital empowerment.

“NCIA’s main focus at this time is to overcome the challenges faced by employees, businesses and those who had been badly affected by this pandemic,” he said in a statement released by the regional development authority.

Source: Bernama