NCIA, state govt help realise RM7.7 bln in investments for Kedah - MIDA | Malaysian Investment Development Authority
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NCIA, state govt help realise RM7.7 bln in investments for Kedah

NCIA, state govt help realise RM7.7 bln in investments for Kedah

13 Nov 2023

The Northern Corridor Implementation Authority (NCIA), in collaboration with the Kedah state government, has facilitated the realisation of RM7.7 billion in investments for the state in the first nine months of 2023.

NCIA, the development authority for the Northern Corridor Economic Region (NCER), said the investments were led by the manufacturing sector, followed by the tourism, logistics, agriculture and digital economy sectors.

“The state government would like to extend its appreciation to NCIA for their steadfast dedication to fostering economic growth and development in Kedah.

“Their commitment to advancing innovation, nurturing local talent and promoting sustainable investments has been pivotal in steering the state towards a prosperous future,” said Menteri Besar Datuk Seri Muhammad Sanusi Md Nor after chairing the State Steering Committee (JPN) meeting here today.

NCIA said talent development is a vital part of NCIA’s strategy to drive socioeconomic development and enhance the NCER ecosystem, especially for Kedahans through the Dana Usahawan (DU@NCER) programme and NCER Talent Enhancement Programme (NTEP).

The two programmes have supported the tourism sector in terms of financing the development of tourist facilities and ensuring the availability of skilled workers since their launch in 2019.

Following the meeting, Sanusi officiated the presentation of letters of grant (LoG) to companies under the DU@NCER and NTEP initiatives in Kedah.

The three companies that received the LoGs included Langkawi Skywalk Sdn Bhd, which will be constructing and developing “the world’s longest free-standing cantilever glass skywalk”, which is expected to be 38 metres long and 645 metres above sea level.

The second company was SMS Retreat Company Sdn Bhd, the developer and operator of the Hangouts Urban + Eco Langkawi resort, which has 44 chalet units.

The final company is PFCE Integrated Plant and Project Sdn Bhd, the developer of Langkawi City, a new integrated tourism development project in Bandar Kuah. The company will invest about RM677 million and is expected to create over 100 job opportunities for locals.

Meanwhile, NCIA chief executive Mohamad Haris Kader Sultan said developing local talent is not only about skill acquisition but also instiling an entrepreneurial mindset to contribute proactively to the economy of Kedah and the NCER.

“Investing in talent and nurturing entrepreneurship are strategic steps to prepare local talent not only for filling up jobs but also developing inventors, innovators and entrepreneurs,” he said.

Since 2019, NCIA’s human capital development programmes have assisted over 19,000 micro, small and medium enterprises in Kedah, hence creating more than 2,300 jobs.

NCIA said efforts have also been made to enhance the NCER ecosystem by providing technical and vocational education and training (TVET) to 6,248 participants.

“Many of these participants, numbering 1,826, received high-skills training, while 4,422 were trained at a semi-skilled level.

“NCIA’s dedication to facilitate these transformative initiatives demonstrates its commitment in driving economic growth and development towards narrowing the regional development gap and contributing to the country’s economic progress,” it said. 

Source: Bernama