BUMIPUTERA COMPANIES SPUR TERENGGANU’S SOCIO-ECONOMIC GROWTH Government facilitates RM3.9 billion investments from 72 Bumiputera projects
KUALA LUMPUR, 15 JUNE 2017: The Federal Government through the East Coast Economic Region Development Council (ECERDC) and the Terengganu State Government has continued to drive the Bumiputera Economic Empowerment Agenda by facilitating and supporting Bumiputera companies in Terengganu, which have in turn enabled these companies to emerge as a catalyst to the state’s socio-economic transformation.
Up until May this year, a total of 72 projects worth RM3.9 billion which are developed by Bumiputera companies have received incentives and support from ECERDC and / or TERAJU@ECER. These projects have helped to accelerate the Terengganu’s socio-economic growth by opening up more than 7,700 job opportunities for the Rakyat.
Of this total, 56 Bumiputera projects focused mainly in the manufacturing and services sectors with investments amounting to RM977.2 million between 2012 and May 2017 have been approved for financing assistance through the Dana Mudahcara TERAJU@ECER amounting to RM136.5 million to support their investments and expansion efforts.
“In line with the National Transformation Agenda, we will continue to pursue a development agenda which is inclusive and sustainable including the economic empowerment of the Bumiputera community. We are very encouraged by the achievements of the local entrepreneurs and they have been one of the core enablers of the socio-economic transformation in Terengganu,” said YBhg. Datuk Seri Jebasingam Issace John after the ECER Implementation and Coordination (ICC) Terengganu meeting which was chaired by Terengganu Menteri Besar YAB Dato’ Seri Haji Ahmad Razif bin Abdul Rahman.
Over the years, Terengganu has continued to solidify its position as an attractive investment destination in the ECER by securing RM29.7 billion in domestic and foreign investments between 2007 and May 2017, which in turn has created more than 30,800 new job opportunities for the Rakyat. The state’s strong investment performance was contributed by the growth in the manufacturing sector, which contributed 51 per cent of the total investments followed by the bio-economy sector at 22 per cent.
In this regard, the state’s two industrial parks developed by the ECERDC have cumulatively attracted RM9.8 billion in private investments, which in turn has created close to 12,000 job opportunities for the locals. The Kemaman Heavy Industry Park (KHIP) has secured a total of RM5.0 billion in investments to date including from Japan-based Tosoh Corporation, while the Kertih Biopolymer Park (KBP) sealed RM4.8 billion in investment from companies in South Korea, France, USA and Taiwan.
Another key development contributing to the growth in Terengganu is the upcoming RM229 million maintenance, repair and overhaul (MRO) project undertaken by the State Government in collaboration with aircraft maintenance company, Admal Aviation Sdn. Bhd. This follows the Project Development Agreement signed between the Terengganu State Government and Admal Aviation early this year. The project, which is expected to create 660 new job opportunities, will include the construction of an airport apron, workshops and refuelling facilities as well as a flight training centre to be built on a 14.6 hectare land. This will further accelerate Terengganu’s positioning to be an MRO hub.
Further to this, the transformation of the Kuala Terengganu City Centre (KTCC) is taking shape and construction works for the drawbridge linking KTCC’s Muara Selatan and Muara Utara is currently 83 per cent completed. The drawbridge is the first-of-its-kind in this region and is set to be an iconic landmark in Kuala Terengganu. In addition, the KTCC Mall in Muara South that is being developed by KTCC Mall Sdn. Bhd. is set to open in the second quarter next year, generating 1,000 job opportunities.
Development in Terengganu is also set to intensify with the construction of the East Coast Rail Line (ECRL) project. The 600km InfraRakyat project will enhance connectivity and mobility across the state including in the districts of Kemaman, Kertih, Besut and Kuala Terengganu. These areas will also be linked to Kuantan Port in Pahang and Port Klang in Selangor through Kuala Lumpur. As a result, more growth centres will be created and this will boost the state’s economy, generating more employment and entrepreneurial opportunities for the local communities.
Meanwhile, ECERDC’s human capital development programmes such as empower ECER, entrepreneur ECER and Agropolitan have continued to ensure an inclusive socio-economic ecosystem in Terengganu by upskilling and enhancing the talent pool as well as facilitating entrepreneurship opportunities for the local population especially in the rural areas.
To date, more than 20,920 people have directly benefitted from the inclusive programmes of which 90 per cent are from the B40 income group and 96 per cent are from the Bumiputera community. They include the 100 families involved in the Besut-Setiu Agropolitan project, a poverty eradication initiative based on the agriculture platform, which has helped to increase their household income to up to RM1,900 per month. Further to this, more than 3,750 new micro, small and medium entrepreneurs have been created through these programmes.
“The improvement of the people’s livelihood in Terengganu will remain a core objective across our development projects and programmes and we will continue to collaborate with the State Government and the relevant agencies to develop the state’s public infrastructure, boost investment promotion and empower the rakyat through our human capital development efforts,” concluded Datuk Seri Issace.