ECERDC to Woo Saudi Investors In Oil, Gas Industry

5/12/2010 — BERNAMA
The East Coast Economic Region Development Council’s (ECERDC) investment mission here aims to woo investors in the oil and gas industry, particularly in the downstream activities.
Its chief executive officer, Datuk Jebasingam Issace John, said the council has identified key projects from the East Coast Economic Region’s (ECER) main economic clusters to be promoted to West Asian investors.
“We hope to focus on the oil and gas in the downstream activities and education,” he told Bernama here Tuesday.
He said the council would hold about 10 business meetings, including with Riyadh Chamber of Commerce and Industry. Potential investors keen to know more about ECER and opportunities available are welcomed,” he said.
Jebasingam is here with the ECERDC investment mission to West Asia from May 7-17 to woo Gulf investors to the development corridor.
Riyadh is the second leg of the mission, led by National Corridor Development Adviser and former prime minister Tun Abdullah Ahmad Badawi to Abu Dhabi, United Arab Emirates (UAE), as well as Jeddah and Riyadh in Saudi Arabia.
The mission is a collaboration between Malaysian Industrial Development Authority, Malaysian embassies in UAE and Saudi Arabia, with the participation from ECERDC, ECER state governments and Halal Development Corp.
He said the ECERDC would act as a one-stop centre to fast-track applications and approvals and provide counselling and advisory services.
“ECER offers an integrated package to investors, including attractive fiscal and non-fiscal incentives, abundant natural resources, good infrastructure and ready supply of human capital,” he said.
ECER, which covers Kelantan, Terengganu, Pahang and the district of Mersing in Johor, is positioning itself as a globally competitive destination for investors.
It has identified key projects to be promoted to West Asian investors.
For tourism, the projects are Pantai Sepat Mainland Coastal Tourism and Cherating Mainland Coastal Tourism in Pahang, as well as Teluk Bidara Mainland Coastal Tourism in Terengganu
In the oil, gas and petrochemical sector, the projects are the Kertih Polymer Park and Petronas Petroleum Industry Complex in Terengganu, as well as the Gebeng integrated Petrochemical Complex in Pahang.
He said another project was Tanjung Agas Oil and Gas and Maritime Industrial Park, located south of Kuantan Port.
“The park will act as a one-stop service centre and offshore base to serve and support the region’s upstream and downstream oil and gas exploration and production activities,” he said.
For manufacturing, he said, the key projects were the Pekan-Peramu Automotive Industrial Park, Gambang Halal Park and Palm Oil Industrial Cluster in Pahang, as well as Pasir Mas Halal Park in Kelantan.
“The key agriculture projects are the Poultry Production Park as well as Herbal and Biotechnology Park (in Kelantan and Pahang), Livestock Production (Terengganu and Pahang), as well as Rompin Integrated Pineapple Plantation (Pahang),” he said.
Jebasingam said for the education and information and communications technology sectors, the main projects to be promoted were the Knowledge Park, the In-Digital Business Exchange and the Global Animation Centre, all in Terengganu.
He said the project focus of ECER was in line with the New Economic Model (NEM) unveiled by Prime Minister Datuk Seri Mohd Najib Tun Razak in March.
“The socio-economic development approach in the region runs parallel with the NEM which is based on knowledge, innovation and creativity, as well as the facilitation of foreign and domestic direct investments in emerging industries and sectors.
“One of its key attractions is the ECER’s special economic zones, which come with its own special incentives,” he said.