KUALA LUMPUR, 28 NOVEMBER 2024: The East Coast Economic Region Development Council (ECERDC) today hosted a seminar on “Accelerating Net-Zero: Opportunities for Hard-to-Abate Industries in ECER,” showcasing investment opportunities in rare earth element (REE) development and decarbonisation strategies to support sustainable hard to abate industrial growth and attract environmental conscious investments.

The seminar, organised in collaboration with the Malaysia-Japan Economic Association (MAJECA), was graced by Minister of Economy, YB Rafizi Ramli. The sessions highlighted the East Coast Economic Region (ECER)’s vast potential as a hub for REE development, reinforced by its reserves valued in the billions with advanced environmental solutions, including PETRONAS’s Carbon Capture and Storage (CCS) facilities, which are pivotal in driving decarbonisation across industries.

Capitalising on Japan’s expertise in clean energy and advanced technologies, ECER is poised to unlock the full potential of its REE value chain. As a leading consumer of REE for electric vehicle (EV) components and high-tech manufacturing, Japan offers a strategic partnership to maximise ECER’s resources while meeting the growing global demand for critical REE materials.

Anchored by the East Coast Special Economic Zone (ECER SEZ), the region offers strategic incentives and plans for CCS facilities at the ports of Kerteh and Kuantan, paving the way for a sustainable hard to abate industrial ecosystem.

Aligned with the strategic objectives of the ECER Development Plan and the upcoming 13th Malaysia Plan, ECERDC targets achieving RM225 billion in Gross Domestic Product by 2030, driven by an annual growth rate of 7%. By then, the manufacturing sector is expected to contribute RM44 billion and attract RM21 billion in private investments.

YBhg. Dato’ Baidzawi Che Mat, ECERDC CEO, expressed, “Today’s seminar is more than a forum; it’s a platform to align ECER’s goals and explore the innovative solutions needed to decarbonise hard-to-abate industries, particularly the emerging REE sector”.

He added that, “With attractive incentives and ECERDC’s strategic support, coupled with insights from Japanese experts and policymakers, the region is poised for impactful investments”.

During the seminar, PETRONAS’s Northern and Southern CCS projects, which offer innovative carbon management solutions specifically designed for hard-to-abate industries was spotlighted. These initiatives demonstrate ECER’s dedication to fostering a sustainable industrial ecosystem while presenting competitive opportunities for investors seeking environmentally responsible growth.

The day concluded with a panel discussion featuring industry leaders, including representatives from Japan Oil, Gas & Metals National Corporation (JOGMEC), Lynas Malaysia, and PETRONAS. The panel explored actionable strategies to overcome challenges in REE development and implement decarbonization solutions, setting a clear path forward for sustainable industrial growth in the ECER.

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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:

Fatin Rasyiqah Mustaza
Manager, Media Relations
East Coast Economic Region Development Council (ECERDC) Tel: 03-8885 0182 /
012 – 588 1127
Email: fatinrasyiqah@ecerdc.com.my