1/30/2011 — BERNAMA
Access to a wealth of investment opportunities awaits investors in Malaysia’s East Coast Economic Region (ECER) Special Economic Zone (SEZ), dubbed by its promoters as the “Klang Valley of the East Coast”.
The benefits of investing in the SEZ, as well as in the wider ECER, will be highlighted by ECER Development Council (ECERDC) chief executive officer Datuk Jebasingam Issace John during the “Invest Malaysia 2011” forum targeted at investors from the Gulf region here Sunday.
The ECER-SEZ recently received investments totalling RM620 million (US$202 million) from Dubai-based Oilfields Supply Centre Ltd for a joint venture in the development of a common user supply base which will be operational in 2013.
“There’s already a strong oil and gas presence, with the petrochemical clusters in Kertih and also Gebeng. We’d like to build upon this, among others,” he told the Malaysian media ahead of the forum.
Launched in 2008, the ECER-SEZ is an integrated development zone with new townships, international tourism sites, served by four ports, two airports and knowledge innovation zones.
It features eight manufacturing zones, four free zones and four tourism zones.
The SEZ is also designed to serve as the ECER’s processing and marketing centre for regional produce, manufactured products and mineral resources.
Issace noted that the SEZ was not about creating a totally new growth area as “the base is already there”.
“It’s a matter of further strengthening that. So, we need to do a little bit of branding of the SEZ with a view to sustaining the interest among potential investors,” he said.
Stretching from Kertih in Terengganu to Pekan in Pahang, the SEZ will create 50 per cent of all jobs within the ECER and produce 80 per cent of its economic output.
Launched in 2007, the ECER covers the states of Kelantan, Terengganu and Pahang, as well as the district of Mersing in Johor.
It is one of five regional development corridors introduced in Malaysia to fuel economic development and boost growth.
Investment Opportunities Abound In ECER Special Economic Zone
1/30/2011 — BERNAMA