Perak garners over RM22.3 bil investments as at end-June 2023 — MIDA - MIDA | Malaysian Investment Development Authority
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Perak garners over RM22.3 bil investments as at end-June 2023 — MIDA

Perak garners over RM22.3 bil investments as at end-June 2023 — MIDA

23 Oct 2023

Perak has garnered over RM22.3 billion in realised investments as at end-June this year, from a total of 283 manufacturing projects, creating more than 22,000 jobs, said Malaysian Investment Development Authority (Mida) chief executive officer Datuk Arham Abdul Rahman.

As such, Perak is poised to enhance Malaysia’s electrical and electronics (E&E) sector, particularly in the northern region, with the upcoming high-tech (technology) industrial hub in Kerian, as projected by the government in Budget 2024, he said.

“Based on the Perak Sejahtera Vision 2023, the state government focuses on several sectors, not just high-tech sectors but also based on services, such as the Lumut Maritime Industrial City,” he said to reporters at the “Mida Invest Series — Perak: Unfolding its Business Potentials” event here on Monday.

He said the state government also aims to attract more investors into the halal sector, not only in the halal food sector but also in cosmetics and other sectors.

Meanwhile, in his keynote speech, Perak Menteri Besar Datuk Seri Saarani Mohamad said the state government is committed to encouraging investments into the state, as it is willing and able to consider reasonable incentives or remove obstacles to facilitate investors.

He stated that the recent investment promotion mission to Shanghai, Hangzhou, Nanning and Guangzhou in China from Oct 15-21, 2023, was successful in attracting potential investments into the state.

“(Among others), InvestPerak has signed a memorandum of understanding with Zhejiang Sinopont Technology, a China investment company, for the encapsulation film with an investment of RM2 billion, involving the setting up of new facilities in Ipoh, to be the first Zhejiang manufacturing in Southeast Asia.

“MB Incorporated Perak has also explored potential collaboration with Rare Earth Group Co Ltd, which is based in Nanning, for the latest technology in isolating rare earth elements and the rehabilitation process or conservation of the industrial site,” he said.

During the mission, the state government has strengthened collaboration with strategic trading partners, which included China’s giant automotive company Geely, in ensuring the success of the RM32 billion Automotive High-Tech Valley investment in Tanjung Malim, he added.

Source: Bernama