RM1.4 bln allocations to invigorate the country’s five main corridor regions - MIDA | Malaysian Investment Development Authority
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RM1.4 bln allocations to invigorate the country’s five main corridor regions

RM1.4 bln allocations to invigorate the country’s five main corridor regions

07 Oct 2022

The country’s five main corridor regions will receive allocations totalling RM1.4 billion, a twofold increase compared with the RM690 million allocated for 2022.

Minister of Finance Tengku Datuk Seri Zafrul Abdul Aziz said additionally, the existing tax incentive package that is expiring this year would be improved and extended for another two years to stimulate the economic growth of the corridors.

He said several major programmes would be implemented next year such as the dairy farm project in Chuping, Perlis with a cost of RM80 million, Human Capital Development Programme under the East Coast Economic Region Development Council (ECERDC) with the aim, among others, to enhance the academic performance of B40 children with an allocation of RM63 million and Bus Rapid Transit Transportation System in Johor with an allocation of RM80 million.

“Besides that, an allocation of RM250 million to expand Sepangar Bay Container Port in Sabah and Samalaju Water Supply Phase 3 Infrastructure Project in Sarawak with an allocation of RM100 million,” he said at the tabling of Budget 2023 at the parliament today.

He said the government would implement the Delapan Special Border Economic Zone (SBEZ Delapan) at Bukit Kayu Hitam, Kedah to drive economic growth in the North.

Tengku Zafrul said the government also intended to develop a digital traffic hub and an alternative data centre for the Southeast Asian region on an approximately 80.93 hectares area in SBEZ Delapan.

He said RM25 million has been allocated to build main infrastructures next year while the private sector would invest business assets with domestic investment opportunities of up to RM4 billion, creating over 600 employment opportunities.

He said the government is also planning to develop towns bordering Thailand and Kalimantan, Indonesia, among them, Bukit Kayu Hitam in Kedah, Kalabakan in Sabah as well as Tebedu and Bakelalan in Sarawak with a cost of RM150 million.

He added that the government planned to start preliminary work for the construction of a new road from Kalabakan to Simanggaris in Indonesia and to upgrade Serian-Tebedu Road in Sarawak to the Indonesian border.

Source: Bernama