'Tanjung Agas industrial park in Pekan poised to be next big thing for investors' - MIDA | Malaysian Investment Development Authority
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‘Tanjung Agas industrial park in Pekan poised to be next big thing for investors’

‘Tanjung Agas industrial park in Pekan poised to be next big thing for investors’

27 Jul 2023

Foreign investors are showing strong interest in utilising the facilities at the Tanjung Agas Oil and Gas and Maritime Industrial Park in Pekan.

State Investment, Industries, Science, Technology and Innovation Committee chairman Datuk Mohamad Nizar Najib said Chinese and European investors were currently exploring investment opportunities in Tanjung Agas, dubbed a modern one-stop service centre and offshore base.

“So far, China firms have expressed strong interest and have visited the industrial hub to see if there is a need for further improvements on the layout.

“They might require certain specifications. China has a huge network of companies which they need to study (before deciding to invest).

“A Europe based-company involved in the caravan (recreational vehicle) industry is also considering Tanjung Agas,” he told reporters after opening the east coast Oil & Gas Services and Equipment (OGSE) roadshow at a hotel here today.

Nizar said Tanjung Agas was primarily for oil and gas, the site could be considered for investment in other industries too.

“PKNP (Pahang State Development Corporation) is actively seeking out new investors but it is not easy due to the competition.

“The state government is trying to promote Tanjung Agas as an ideal industrial park.”

Nizar said although the park is investor-ready, discussions are ongoing with the companies on how certain industrial needs can be accommodated in their plan to set up base in Tanjung Agas.

“I believe the park will gain momentum once the airport (Kuantan International Airport) and ECRL (East Coast Rail Link) are fully developed.

“However, we hope investors will seize the opportunity quickly and this can be a reality in the next few years,” he said, adding Tanjung Agas has a growth potential similar to the Gebeng Industrial Park here.

On tax incentives for investors, Nizar said the state was working closely with the Malaysian Industrial Development Authority and East Coast Economic Region Development Council.

“We have been in talks with professional tax consultants to see what other attractive incentives can be offered to give Tanjung Agas greater advantage than other investment destinations.”

He dismissed talk that Tanjung Agas is a white elephant, saying progress is slow but efforts have been made to draw investors and the area should not be left idle as it has been gazetted as an industrial park.

The ground-breaking ceremony for the 1,639ha industrial park was in 2009.

The site was poised to serve offshore oil and gas exploration and production in the South China Sea.

Source: NST