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Benefits
Local populace, as well as manufacturing investors and business
owners, are expected to benefit greatly from this cluster.
These benefits include:
-
Creating entrepreneurial
opportunities for local companies and SMEs
-
Create employment
for local populace throughout the value chain (i.e. sourcing
of raw materials to production, to marketing of products);
-
Enabling technology
and skills transfer via collaboration
and R&D with industry experts and institutions;
-
Opening up opportunities
for branding and international recognition
through concerted promotion and marketing activities;
-
Adding further
value to raw materials by manufacturing (downstream
products), hence capturing more value domestically.
-
Attracting
foreign investments, especially in heavy industries
and automotive, and taking advantage of further business
opportunities and employment for the locals.
Benefits to investors include:
-
Close
proximity to raw materials is an added advantage
for manufacturing operations in the Region;
-
Upgrading of
sea ports and airports ensures reliable logistics
and transport of raw materials and products;
-
Creation
of Free Zones are added incentives in terms of
tax relaxation, centralised utilities and concentration
of operations facilities;
-
ECER
incentives package offers a wide range of financial
and operational benefits to investors.
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