ECERDC ACHIEVES RM2 BILLION IN COMMITTED INVESTMENTS IN TERENGGANU AS OF 31ST AUGUST
Chili Fertigation Project under Inisiatif Pendapatan Rakyat (IPR) INTAN Programme to Boost the Income of the Hardcore Poor and B40 Group in Terengganu
PUTRAJAYA, 11 SEPTEMBER 2023: The East Coast Economic Region Development Council (ECERDC) has achieved RM2 billion in committed investments for 2023 as of 31st August 2023 which is 66% of the RM3 billion target for Terengganu in 2023. Of the total, 87% (RM1.7 billion) is Foreign Direct Investment (FDI) in the manufacturing sector while the remaining 13% is Domestic Direct Investment (DDI) in the manufacturing and tourism sectors.
ECERDC has also achieved realised investments totalling RM1 billion in the manufacturing and tourism sectors as of 31 August 2023 in the state of Terengganu.
Terengganu Menteri Besar, YAB Dato’ Seri Dr. Ahmad Samsuri bin Mokhtar who chaired the ICC Terengganu meeting, expressed appreciation for ECERDC’s consistent efforts in realising, as well as attracting new committed investments from diverse sectors to the state.
“I am pleased that Terengganu has successfully maintained its ability to attract investors to the state thanks to ECERDC’s initiatives and its close collaboration with the State Government. We maintain a positive outlook on the partnership with the Federal Government via ECERDC as it presents opportunities for growth in our endeavour to attract diverse investments in Terengganu. We are pleased that investments in sectors other than OGP (Oil, Gas & Petrochemicals) are being realised and we are glad that new investors are taking advantage of Terengganu’s rich natural resources, robust infrastructure and mature investment ecosystem,” he said.
Apart from investment, one of the key topics discussed during the meeting was projects that aim to boost the income of the hardcore poor and B40 group under Inisiatif Pendapatan Rakyat (IPR) programme with the upcoming chili fertigation project to commence soon in Hulu Terengganu.
“ECERDC will also be implementing a commercial large-scale chili fertigation project that has been approved by the Ministry of Economy in Setiu under the IPR-INTAN programme which will help support the country’s food sustainability agenda. Under the Anchor Company Model, 100 participants from the hardcore poor and B40 group will benefit in the first phase of implementation. In the second phase, another 40 participants will be selected as workers by the Anchor Company which will be appointed in December 2023. These workers are expected to earn a guaranteed minimum wage of RM2,000 per month including allowances. The 80-acre project will be under the purview of ECERDC as the implementing agency,” said Dato’ Baidzawi Che Mat, Chief Executive Officer of ECERDC.
Dato’ Baidzawi said he was also confident that this project will lift the hardcore poor and the B40’s income and give birth to capable agro-preneurs who can one day create a positive impact in the agribusiness sector and to the state. He added that the project will be expanded to other ECER states which include the district of Segamat in Johor, Kelantan and Pahang, benefitting 240 participants in total. Participants will be selected from the e-Kasih and iDAMAK (Informasi Data Maklumat Masyarakat Orang Asli) lists and those who are interested can also apply at the IPR website https://ipr.epu.gov.my/sign_up.
During the meeting, members of ICC Terengganu were also updated on the planning and implementation progress of Lebuhraya Pantai Timur Phase 3 (LPT 3) project, the coastal protection system for Sultan Mahmud Airport Road to Kuala Terengganu City Centre (KTCC) project which was completed in May 2023 and the commencement of KTCC Promenade Phase 1 project on 15 May 2023. Once completed in 2025, KTCC Promenade is set to become another top attraction within the Kuala Terengganu Drawbridge area, an ECERDC project which has been handed over to the Terengganu State Government in 2019.
The ICC Terengganu members were also briefed on other ongoing ECERDC projects and initiatives as well as the progress of ECER Master Plan 3.0 which was jointly presented by ECERDC and PricewaterhouseCoopers Advisory Services Sdn. Bhd. (PwC).