PUTRAJAYA: The Northern Corridor Economic Region (NCER) raked in private investments of RM7.8 billion for the first half of this year.
In a statement, the Northern Corridor Implementation Authority (NCIA) said the key attraction for investors into the NCER continued to be driven by the manufacturing sector.
This, it added, was given its appealing support structures, facilities and services, which were developed as the foundation to spur manufacturing capabilities.
In line with NCIA’s aim of broadening private sector involvement as set in the second phase of its implementation, four high technology projects, one from each of the four NCER states, was unveiled today at a document exchange ceremony.
Prime Minister Datuk Seri Najib Tun Razak withnessed the ceremony after chairing the 14th Council Meeting of the NCIA here today.
Also present were NCIA Chief Executive NCIA Datuk Redza Rafiq, Minister in the Prime Minister Department Datuk Seri Wahid Omar, Chief Secretary to the Government, Tan Sri Dr Ali Hamsa, Perak Menteri Besar Datuk Seri Dr Zambry Abd Kadir, Kedah Menteri Besar Datuk Seri Mukhriz Tun Mahathir, Perlis Menteri Besar Azlan Man and Penang Deputy Chief Minister II, Prof Dr P Ramasamy.
The document exchange was between the NCIA and Aerospace Composites Malaysia Sdn Bhd, BHIC Marine Technology Academy Sdn Bhd, Gading Kencana Sdn Bhd and QDOS Holdings Bhd.
Under the agreement, the companies will be setting up new initiatives and facilities within the region, which will result in a significant volume of spillover effect, such as highly skilled and specialised talent creation and development, logistic enhancement as well as contract manufacturing and business development opportunities.
Meanwhile, Redza said the NCIA had achieved signficant milestones in accomplishments to date, and would work harder to achieve, if not surpass its Key Performance Indexs (KPIs).
“Today’s ceremony is testament that it is indeed possible to accelerate economic growth through high technology initaitves, especially given the vast potential offered by the NCER and we are optimistic that this uptrend will continue,” he added.
He said the NCIA looked forward to greater participation from the private sector to enhance the ecosystem, while growing and maintaining an industry-relevant talent base.
“This is in line with our vision of establishing a collective impact by generating economic growth, while creating positive spillover benefits for the people,” he added.
The NCIA has achieved more than half its 30 per cent target for local private sector participation, six high impact initiatives locked-in via industry development initiatives, three SME/ entrepreneur development and support initiatives, as well as seven successful community outreach programmes as part of the socio economic development initiatives.
By year-end the NCIA is set to attract RM10 billion in investments from private investors.
At the ceremony, NCIA also signed a Memorandum of Understanding (MoU) with Universiti Sains Malaysia for collaboration focused on areas as collaborative research and development , commercialisation of research and development initiatives, joint social and community programmes, establishing new institutions of higher learning in the NCER, mutual knowledge transfer and training.