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NCER remains attractive to investors despite pandemic

NCER remains attractive to investors despite pandemic

16 Nov 2020

The Northern Corridor Implementation Authority (NCIA) has secured RM15.5 billion in investments this year, exceeding its 2020 investment target by more than 120 per cent.

The regional development authority said it had outperformed its RM7 billion target through the provision of strong business stimulus incentives and attractive tax structures.

According to NCIA, the approved job creation in 2020 is more than 23,000 jobs compared to the original target of 5,900 jobs.

“Although the region’s Gross Domestic Product is forecast to contract by four per cent this year due to the ongoing pandemic, NCIA has regained the momentum and will continue implementing strategic projects and initiatives as approved in the Northern Corridor Economic Region (NCER) Strategic Development Plan (SDP) 2021-2025 to mitigate the socioeconomic impact of the outbreak on the rakyat.

“NCER should be back on track to pre-COVID-19 levels in 2021,” it said in a statement today.

NCIA said 16 Bumiputera companies had committed to invest almost RM500 million, and almost 750 jobs had been created under the Dana Usahawan Bumiputera programme up to end-October.

Supporting this, the NCER Talent Enhancement Programme has successfully matched over 1,200 unemployed graduates with prospective employers.

“Following this, more than 12,000 entrepreneurs have benefitted under the entrepreneurNCERand empowerNCER programmes that provide assistance to ensure the sustainability and growth of small and medium businesses,” NCIA said.

Fast-track programmes [email protected] and [email protected] have been implemented since August, focusing on reskilling and upskilling followed by soft skills training to enhance participants competitiveness in the job market. This has provided employment opportunities to unemployed graduates and retrenched workers.

“To date, [email protected] and [email protected] programmes have created over 3,800 jobs and 1,300 entrepreneurs,” it said.

NCIA chief executive Datuk Seri Jebasingam Issace John said NCIA’s foremost priority in 2021 under the 12th Malaysia Plan was to expedite the implementation of the SDP and ensure a quick and visible impact on the ground for the people.

“The success of NCIA’s strategic and high-impact projects, as well as human capital programmes, are catalysts for NCER to be a world class economic region and technology hub,” he said.

Source: Bernama Posted on : 16 November 2020

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