1/15/2009 — Press Release
The East Coast Economic Region (ECER) will be establishing a one-stop centre to fast track applications and approvals.
“This one-stop centre will be a single point of contact for potential investors and current establishments for ECER projects,” said Datuk Jebasingam Issace John, CEO of the ECER Development Council (ECERDC).
“It will process and coordinate tax incentive and non-tax incentive applications for ECER projects under sub-section 7(e) (iii) of the ECER Development Council Act 2008.
“Through this one-stop centre, the ECER will be able to accelerate the region’s economic growth more effectively, in line with the objectives of its master plan,” he said.
To implement this one-stop centre, the ECER Investment Committee will be formed.
This will be headed by the ECERDC CEO, representatives of ECERDC, the Ministry of Finance, Ministry of International Trade and the Malaysian Industrial Development Authority; as well as representatives of the ECER states, the Ministries of Agriculture and Agro-based Industries, Tourism, Higher Learning, and other related agencies or organizations.
The ECER one-stop centre will process applications for incentives and customized incentives before approval by the Ministry of Finance; investments for high impact projects for the consideration of the Cabinet Committee for Investments, while manufacturing licenses and expatriate posts for projects will be approved within the ECER.
The one-stop centre will also provide counseling and advisory services for investors.
This announcement was made after the third ECERDC board meeting at Bentong, Pahang today.
Under midterm 9MP, 107 ECER projects with an allocation of RM2.6 billion have been identified. Some 48 projects commenced last year, 29 will begin by mid of this year with 22 projects to start before end 2009. A further eight projects will be implemented early 2010.
“Since ECER was established through an Act of Parliament in the first half of last year, the ECER Development Council is stepping up to its role of setting the direction, policies and strategies in relation to the development of the Region.”
The Council is also promoting and stimulating economic and social development in the Region, as well as private sector investment.
As the principal coordinating agent on behalf of government entities to receive process and expedite approvals for trade, investment and development within the ECER, the Council ensures that social development and sustainable development are kept as priorities while driving the region’s economic growth.
“In taking on this task, the ECERDC has successfully implemented some of these projects which have trickle down economic benefits.”
ECER One-Stop Centre To Boost Investments
1/15/2009 — Press Release