CONCERTED EFFORT DRAWS RM10 BILLION IN COMMITTED INVESTMENT TO ECER IN 2023
PUTRAJAYA, 25 OCTOBER 2023: The East Coast Economic Region (ECER) has successfully attracted RM10 billion in committed investments as of September 2023. To-date RM2.6 billion has been realised. These investments are across various sectors including manufacturing, tourism, services, agriculture as well as oil, gas & petrochemical (OGP) which have the potential to create more than 4,500 new jobs and more than 600 additional business opportunities in ECER, promising a brighter economic outlook for the region.
Under the MADANI economy framework, ECERDC’s commitment and effort to position ECER as the preferred investment destination involves implementation of strategic infrastructure and industry-driven talent development programmes. In collaboration with the Malaysian Investment Development Authority (MIDA) and other strategic partners, ECERDC plays a holistic role in facilitating new investments into ECER and ensuring the realisation of investment.
“ECERDC has the locality advantage and strong relationship with the ECER state governments and local industry players to attract investments and provide end-to-end facilitation to our investors. The opportunities created by private investments will generate jobs and entrepreneurial opportunities which is in line with the spirit of Malaysia MADANI which strives to provide a better livelihood for the people,” said YBhg. Dato’ Baidzawi Che Mat, the Chief Executive Officer of ECERDC after attending the ECER Council Meeting chaired by Prime Minister YAB Dato’ Seri Anwar bin Ibrahim, here, today.
Present at the meeting were ECER Council Members, YAB Dato’ Seri Dr. Ahmad Samsuri Mokhtar, Menteri Besar of Terengganu; YAB Dato’ Sri Wan Rosdy Wan Ismail, Menteri Besar of Pahang; YAB Datuk Onn Hafiz Ghazi, Menteri Besar of Johor and YAB Dato’ Panglima Perang Ustaz Dato’ Haji Mohd Nassuruddin Bin Haji Daud, Kelantan’s new Menteri Besar. The meeting was also attended by YBhg. Tan Sri Dato’ Seri Mohd Zuki Ali, Chief Secretary to the Government; YBhg. Datuk Johan Mahmood Merican, Secretary-General of Treasury; YBhg. Dato’ Nor Azmie Diron, Director General of Economic Planning Unit, Prime Minister’s Department; YM Tan Sri Tengku Muhammad Taufik bin Tengku Kamadjaja Aziz, PETRONAS President and Group Chief Executive Officer and YBrs. Dr. Chia Song Kun, Executive Chairman of QL Resources Berhad.
ECERDC’s success in attracting private investments has been contributed by strategic infrastructure projects carried out by Federal Government to improve transportation connectivity and network thus increasing the region’s competitiveness as an investment destination. The Federal Government has allocated a significant fund to implement strategic infrastructure projects which has propelled private investments into ECER. Among the projects implemented include the construction of Lingkaran Tengah Utama (Central Spine Road), development of thematic industrial parks, Kemaman-Gebeng water supply project, expansion of Kuantan deepwater port, and upgrading of Sultan Ismail Petra Airport.
“Since ECERDC’s inception, private investments have reduced out-migration and contributed to the increase of ECER’s Gross Domestic Product (GDP), giving a socio-economic boost to a lagging region. Continued Federal-State collaboration is required to further enhance economic growth of the region to benefit the people,” added YBhg. Dato’ Baidzawi Che Mat.
With the growth of global Recreational Vehicle (RV) industry as a new concept of Lifestyle Tourism, ECERDC is positioning ECER as the new destination for RV manufacturing and assembly industry to position Malaysia as a leading RV manufacturing hub in the ASEAN region and place the region on the map for RV enthusiasts. ECERDC is also looking to attract foreign investors to build and operate international standard RV parks at identified locations across the region.
During the meeting, the Council members were updated about projects and programmes that are being implemented by ECERDC in the region. Part of the projects are addressing the national food security agenda where ECERDC presented its agrofood@ECER initiative especially its ECER Dairy Valley project to increase the self-sufficiency level of fresh milk production.
Moving forward with ECER 3.0 Master Plan
ECERDC is outlining the development strategy for 2025 to 2030 under the ECER Master Plan (EMP) 3.0 which will focus on six economic clusters namely manufacturing, oil, gas and petrochemical (OGP), agribusiness, tourism, human capital development and logistics and services to further drive the economic growth of the region till 2030.