ECERDC SURPASSES REALISED INVESTMENT TARGET FOR 2024
Collaborative Efforts Drive East Coast Toward Significant Economic Growth
PUTRAJAYA, 15 October 2024: The East Coast Economic Region Development Council (ECERDC) has successfully surpassed its 2024 realised investment target of RM10 billion, securing RM13.3 billion for the region as of September 2024. The investments will create over 8,700 job opportunities across industries including steel manufacturing, petrochemicals, biomass products, and tourism.
Under the ECER Master Plan 2.0 (EMP 2.0) (2018–2025), ECERDC has secured RM44.4 billion in realised investments for the East Coast Economic Region (ECER), representing 90% of the RM49 billion target set for the plan’s completion. These investments have generated over 69,000 job opportunities and created more than 23,000 entrepreneurial ventures, driving substantial economic growth across the region. During the same period, ECERDC has facilitated committed investments totalling RM58.6 billion, representing 84% of the RM70 billion target under EMP 2.0.
“Achieving 90% of our RM49 billion target under the EMP 2.0 is a clear testament to the region’s growing economic potential. The realised investments and job creation have significantly boosted the region’s economy. The ongoing efforts by ECERDC, in collaboration with the Malaysian Investment Development Authority (MIDA) and the Ministry of International Trade and Industry (MITI), are positioning the East Coast as a strategic investment hub poised to attract substantial capital inflows,” said YBhg. Dato’ Baidzawi Che Mat, Chief Executive Officer of ECERDC, after the second ECER Council Meeting for the year 2024 chaired by YAB Dato’ Seri Anwar bin Ibrahim, the Prime Minister of Malaysia, here, today.
“In today’s meeting, MIDA and ECERDC have successfully finalised the MIDA-ECERDC collaboration framework, marking a significant step in boosting the region’s appeal to investors. The synergy between MIDA and ECERDC is crucial in ensuring the smooth and successful facilitation of investments in the East Coast Region, from the early stages right through to post-investment care,” he added.
Aligned with Madani’s vision for equitable development, the ECER Development Plan under the 13th Malaysia Plan (RMK-13) from 2026 to 2030 was also presented by ECERDC during the meeting. The plan focuses on four key strategic thrusts, including enhancing food security through the nation’s “Food Basket,” developing new tourism destinations like ECER Rail Tourism, expanding marine industries, including shipbuilding and ship repair, and advancing “hard-to-abate” sectors like steel, petrochemical and mineral.
These initiatives will be powered by key enablers (pembolehdaya), such as the East Coast Rail Link (ECRL) serving as a land bridge between the East and West Coasts, strengthening ECER’s strategic position as a gateway to China and the Asia-Pacific, along with port and airport expansions to boost trade and tourism. The plan also emphasizes renewable energy zones, carbon capture technologies (CCUS), and bioenergy production, ensuring sustainable growth in the region.
ECERDC is setting its sights on achieving RM225 billion in Gross Domestic Product (GDP) by 2030, driven by an annual growth rate of seven percent. Key projects in four economic sectors, along with catalytic initiatives, are expected to generate 60 percent of ECER’s total GDP during this period. This strategic focus highlights the region’s growing role in Malaysia’s economic development.
Also present at the Council meeting were YAB Dato’ Seri Ir. Dr. Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu; YAB Dato’ Sri Diraja Wan Rosdy bin Wan Ismail, Menteri Besar of Pahang; YAB Dato’ Onn Hafiz bin Ghazi, Menteri Besar of Johor; and YAB Dato’ Panglima Perang Ustaz Dato’ Haji Mohd Nassuruddin bin Haji Daud, Menteri Besar of Kelantan. The Minister of Economy, YB Tuan Mohd Rafizi Ramli, Minister of Investment, Trade, and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz and YBhg. Tan Sri Dato’ Sri Shamsul Azri bin Abu Bakar, Chief Secretary to the Government (KSN); were also in attendance.
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ABOUT ECER AND ECERDC
ECER, which covers the states of Kelantan, Terengganu, Pahang, and the districts of Mersing and Segamat in Johor, is a rapidly transforming region that is steadily positioning itself as a distinctive, dynamic, and competitive destination for investments.
The East Coast Economic Region Development Council (ECERDC) is a statutory body established to spearhead the execution and implementation of the East Coast Economic Region (ECER) Master Plan. ECERDC plays a lead role in setting the directions, policies and strategies for the socio-economic development of ECER by promoting and facilitating investments into the Region.
Geographically, it covers a total area of over 69,000 sq km or 52% of Peninsular Malaysia. It is home to more than 5 million people, or about 15% of the total national population. The economic growth in the Region is driven by six key economic clusters, namely Tourism, Oil, Gas & Petrochemical, Manufacturing, Agribusiness, Human Capital and Entrepreneurship Development as well as Logistics and Services. These clusters are supported by developments in Transportation, Infrastructure, Property and Environment to make the Region an ideal destination for business, investments, and quality living.
For media inquiries, kindly contact:
Nadhirah Naaim
Senior Executive, Media Relations
East Coast Economic Region Development Council (ECERDC)
Tel: 03-8885 0166 / 017-230 3924
Email: nadhirahn@ecerdc.com.my