Private investment continues to spur Socio-economic transformation in Pahang
Private investment continues to spur Socio-economic transformation in Pahang.
RM64.9 billion worth of investments attracted, creating 55,933 job opportunities for the Rakyat
KUANTAN, PAHANG, 28 SEPTEMBER 2017: The socio-economic transformation projects and programmes implemented in Pahang by the Federal Government through the East Coast Economic Region Development Council (ECERDC) and the Pahang State Government have continued to drive private investments into the state, spurring the creation of more jobs and entrepreneurial opportunities to uplift the livelihood and well-being of the Rakyat.
As at end of August 2017, Pahang has attracted a total of RM64.9 billion in domestic and foreign investments, which will create more than 55,933 job opportunities as well as over 3,538 entrepreneurial opportunities for the Rakyat. The strong private investment growth in Pahang was mainly attributable to the manufacturing sector, which contributed 49.1 per cent of the total investments followed by the tourism sector at 23.2 per cent, as well as the oil and gas sector at 14.2 per cent.
“Pahang’s robust investment growth has been a key driver to the strong economic performance of the East Coast Economic Region (ECER). In fact, the international and domestic investors in Pahang have played a pivotal role in boosting the local economy through the creation of jobs for the Rakyat as well as business opportunities for the local community,” said YBhg. Datuk Seri Jebasingam Issace John, Chief Executive Officer of ECERDC after the ECER Implementation and Coordination Committee (ICC) Pahang meeting today.
The ICC meeting was chaired by Pahang Menteri Besar, YAB Dato’ Sri Diraja Haji Adnan bin Haji Yaakob.
“Moreover, as the Government continues to invest in various high-impact InfraRakyat in the ECER, supported by strategic and inclusive human capital development programmes, we see even greater potential for the region to grow its economy particularly in the logistics and trade facilitation sectors, which will stand to benefit from the increased mobility in people and goods,” added Datuk Seri Issace.
Logistics and trade facilitation sectors are expected to play an increasingly vital role in the overall economy across Pahang and ECER, especially once the expansion of Kuantan Port into a deep water port is completed by 2018. To date, the project is more than 80 per cent completed with the outer infrastructure at the port like road access, interchange and flyover on track for completion. Positioned as the “Gateway to Asia Pacific”, Kuantan Port is set to offer investors in the ECER Special Economic Zone and Malaysia-China Kuantan Industrial Park (MCKIP) one of the fastest routes to major ports in China and other Asia Pacific markets.
The 600km East Coast Rail Link (ECRL) project is another game-changer that will transform the ECER’s economic landscape and generate immense economic benefits to the region including Pahang. The construction of the ECRL will spur growth of cities and urban centres across all key economic and industrial areas in Pahang. These areas include Bentong, Temerloh, Mentakab, Gambang, Maran and Kuantan, which will be directly connected to Kuantan Port and Port Klang in the West Coast. The local population will stand to benefit as these developments will significantly boost trade and businesses, generating greater jobs and entrepreneurial opportunities including in the rural areas.
Meanwhile, to further spur investments into the region, infrastructure works in the Pahang Technology Park in Gambang have been completed, and this is expected to facilitate greater investments especially in the high-tech related industries in the state, solidifying the area’s position as ECER’s ICT Centre.
“Public-private partnership initiatives have also been a key catalyst to the region’s successful socio-economic transformation. In this regard, the ECERDC has partnered with investors on various initiatives such as job fairs and even upskilling programmes for the local talents,” said Datuk Seri Issace.
Recently, a job fair was organised in Kuantan to support the recruitment drive of Alliance Steel (M) Sdn. Bhd. (Alliance Steel), one of ECER’s single largest investors which will kick-off its operations at the MCKIP. The job fair successfully attracted more than 8,500 job seekers within the region. Over the next two months, Alliance Steel will also be collaborating with ECERDC to conduct similar recruitment drives in other parts of the ECER including Kota Bharu and Jeli in Kelantan as well as Kuala Terengganu in Terengganu.
On the Bumiputera economic empowerment front, as of August 2017, a total of 44 investment projects worth RM7.07 billion from Bumiputera companies have received either incentives from ECERDC or TERAJU@ECER, or both, and they in turn have helped to create some 4,354 job opportunities for the Rakyat. Through the Dana Mudahcara TERAJU@ECER programme, a total investment worth RM357.1 million for 21 Bumiputera projects mainly in the manufacturing and services sectors, have been approved since the programme was introduced in 2012.
Meanwhile, human capital development programmes such as empower ECER and entrepreneur ECER, ECER Talent Enhancement Programme and Agropolitan have benefited more than 39,715 locals in Pahang. These programmes have also successfully developed 9,157 entrepreneurs who in turn have generated more than 16,000 job opportunities for the locals. About 97% of all participants are from the Below 40 (B40) category.
“The ECER’s steady economic growth will continue to uplift the income levels and well-being of the Rakyat in the region including Pahang. On our part, we will continue to leverage on the growth momentum and deliver socio-economic transformation programmes that are inclusive and sustainable,” concluded Datuk Seri Issace.