MVV2.0 on track to contribute up to 15pct of country's GDP, says Aminuddin - MIDA | Malaysian Investment Development Authority
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MVV2.0 on track to contribute up to 15pct of country’s GDP, says Aminuddin

MVV2.0 on track to contribute up to 15pct of country’s GDP, says Aminuddin

31 Aug 2023

The Catalyst Projects for Malaysia Vision Valley 2.0 (MVV2.0) are expected to have a major impact on the national economy by contributing up to 15 per cent to the country’s gross domestic product (GDP) once all development plans are completed in 2045.

Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun said the state-led MVV, through the state government’s investment-related agency, NS Corporation (NSC), will have a significant economic impact on the country through investments brought in from within and outside the country while creating jobs and business opportunities.

“The development of MVV continues to open up more economic development opportunities with an increase in the value of investments into Negeri Sembilan, which stood at more than RM32 billion from 2018 to 2022,” he said in a statement.

Aminuddin said the success of reaching a total investment value of RM8.9 billion in 2022, which is the highest achievement in the history of the state administration, was due to efficient governance and the attitude of openness practised by the state government.

He added that the state government always practices an open policy in welcoming investors, especially high-tech industry players, in addition to actively holding dialogue sessions with existing and potential investors to expand operations in Negeri Sembilan.

“This policy has become the strength of the state government to attract more investors from home and abroad to invest in the MVV2.0 area since the opening of new industrial areas in this project would meet the demand and needs of the industry in addition to stimulating the state economy,” said the menteri besar.

The MVV2.0 is a long-term comprehensive plan for the Seremban and Port Dickson districts by taking advantage of the state’s strategic position adjacent to Kuala Lumpur International Airport (KLIA) and Port Klang, Aminuddin said.

“The development concept is currently in the implementation phase, in line with the first phase of the development catalyst project, which is a ‘heartbeat’ project, and will focus on the development of a high-tech industrial park.

“The previous MVV development planning targeted economic activities such as high-tech industrialisation, tourism, education and research,” he said.

MVV2.0 has been designed to drive the growth of Negri Sembilan and it includes six development parcels.

Parcel A, covering an area of 1,148 hectares (ha), is planned as a high-tech industrial area known as NS High Tech Industrial Park.

“This first project will be developed in Parcel A, in the Ladang Hamilton area in Nilai, near the Seremban R&R North-South Highway.

“The work to develop the industrial area has been launched and the groundwork is underway,” Aminuddin said.

Parcel B, which spans 3,600ha, is planned as the development area for Smart County, which will, among others, have a new central business district in Seremban, encompassing residential and commercial areas and light and medium industries, including halal-certified food and beverages, pharmaceutical and cosmetics, medical and education hubs.

NSC had also purchased 1,506ha of Parcel B land from Sime Darby Bhd for the purpose of development and for the Turkish Aerospace Industries helicopter assembly facility, which was initially in Parcel C, Aminuddin said.

The area will be more easily accessible from KLIA through new road connections and rail lines that are currently in the planning stage, he said, adding that the state government intends to develop an aerospace industry hub, known as NS Aerospace Valley, in Parcel C.

The development plan for Parcel D is to increase the potential of the shipping, port and logistics industry in Port Dickson, while Parcel E is seen as potentially developed for the unmanned aerial vehicle industry.

Aminuddin said Parcel F will be known as the NS Semiconductor Valley and will be located near the Tuanku Jaafar Industrial Park.

“SDI Energy Malaysia Sdn Bhd, which has brought in investments amounting to RM6 billion, is building the second phase of its electric vehicle (EV) battery cell factory in Parcel F,” he added.

Aminuddin said that the MVV2.0 also received a RM450 million investment from Dutch Lady Milk Industries Bhd.

Dutch Lady will completely transfer their operations from Petaling Jaya to a land area of ​​more than 13ha in Bandar Enstek in the third quarter of this year and the move is expected to create 400 job opportunities for local residents, said the menteri besar.

“All development efforts are expected to be able to open up more job opportunities for the people, which will be able to improve the economic status of the people and have a positive impact on the local population,” he said.

Source: Bernama