NCER expects to secure RM10 billion investments this year

The Northern Corridor Economic Region (NCER) is targeting to draw some RM10 billion investments this year mainly from manufacturing as well as the tourism and agriculture-related sectors, which are expected to generate 8,000 jobs.

The manufacturing projects are expected to come from light emitting diode, medical devices, solar, automotive and aerospace industries and the sources of investments are likely to come from Japan, the United States, Europe, South Korea and China, Northern Corridor Implementation Authority (NCIA) chief executive, Datuk Redza Rafiq said after the 11th NCIA council meeting, which was chaired by Prime Minister Datuk Seri Najib Tun Razak in Putrajaya.

Datuk Redza also announced four projects, one each in Perak, Penang, Kedah and Perlis, with a combined investment of RM1.93 billion from Inokom Corp Sdn Bhd, Telekom Malaysia Bhd, B Braun Medical Industries Sdn Bhd and Yayasan Kemajuan Sosial Malaysia.

Inokom's participation is in the training of youths in the automotive field in collaboration with NCIA and the Advanced Technology Training Centre.

Telekom's investment is in providing foundational infrastructure for a high-speed broadband network within Perlis' key economic and industrial areas.

B Braun will reinvest to expand its Penang operations including new product development, a research and development centre, capacity expansion and plant upgrades.

Yayasan Kemajuan Sosial Malaysia will offer entrepreneurship training on chilli fertigation farming to NCER residents, particularly in the Kerian district in Perak.

The Prime Minister, Kedah Menteri Besar, Datuk Seri Mukhriz Mahathir; Perak Menteri Besar, Datuk Seri Dr Zambry Abd Kadir; Perlis Menteri Besar, Azlan Man and Penang Chief Minister Lim Guan Eng witnessed the exchange of documents between NCIA and the four companies.

Inokom managing director, Mohd Rizal Jailan, YKSM project director, Sumathi Jayabalan, Telekom Malaysia Bhd group chief executive officer, Tan Sri Zamzamzairani Mohd Isa and B. Braun senior vice-president and head for centre of excellence (intravenous access), Dr Juergen Schloesser represented their respective companies at the event.

In 2013, NCIA secured some RM10.7 billion in investments, generating 18,403 jobs.

Meanwhile, NCIA would continue to focus on human capital development, which the agency considered as the key factor for economic development.

Source: NST Business Times and the Star